World tourism industry employed 266m in 2013—WTTC

Posted: March 24, 2014 in general

ImageReports released last Wednesday by the World Travel and Tourism Council (WTTC) has indicated that the world tourism industry contributed 7 trillion US dollars to the global economy in 2013, just as it also said the industry is expected to grow by 4.2 per cent in 2014.

The report outlines the economic impact data and forecasts the tourism prospects.

India’s tourism industry is expected to grow by 7.3 per cent in 2014. The total global contribution of Travel and Tourism reached 266 millions in 2013 which is almost 9 per cent of the global employment. One in every 11 jobs in the planet is said to be linked with travel and tourism.

President and CEO of WTTC, David Scowsill said that 2013 proved another successful year for the Industry. “Travel and tourism’s contribution to the world economy grew for the fourth consecutive year in 2013, helped especially by strong demand from international travellers.

Visitor exports, the measure of money spent by these international tourists, rose by 3.9 per cent at a global level year on year, to US$1.3 trillion, and by more than 10 per cent within South East Asia,” he said. “It is clear that the growth in travel and tourism demand from emerging markets continues with pace, as the burgeoning middle-classes, especially from Asia and Latin America, are willing and more able than ever to travel both within and beyond their borders”.

 Travel and tourism forecasts over the next ten years also look extremely favourable, with predicted growth rates of over 4 per cent annually that continue to be higher than growth rates in other industries. “Capitalising on the opportunities for this travel and tourism growth will, of course, require destinations and regional authorities, particularly those in emerging markets, to create favourable business climates for investment in the infrastructure and human resource support necessary to facilitate a successful and sustainable tourism industry,” he said.

“At the national level, governments can also do much to implement more open visa regimes and to employ intelligent rather than punitive taxation policies,” he added.


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