International Tourism

Topics: Tourism, World Tourism Organization, President Pages: 52 (6418 words) Published: June 25, 2013
The Authority on World Travel & Tourism

Travel & Tourism
Economicimpact2012 WORLD
WTTC Travel & Tourism Economic Impact 2012

1

For more information please contact:

Olivia Ruggles-Brise
Director,policy&Research olivia.rugglesbrise@wttc.org

Eva Aimable
manager,policy&Research eva.aimable@wttc.org
©2012Worldtravel&tourismcouncil

Foreword

For more than 20 years the World Travel & Tourism Council (WTTC) has been investing in economic impact research, which assesses the Travel & Tourism industry’s contribution to GDP and jobs. Our ten-year forecasts are unique in the information they provide to assist governments and private companies plan for the future. Travel & Tourism continues to be one of the world’s largest industries. The total impact of the industry means that, in 2011, it contributed 9% of global GDP, or a value of over US$6 trillion, and accounted for 255 million jobs. Over the next ten years this industry is expected to grow by an average of 4% annually, taking it to 10% of global GDP, or some US$10 trillion. By 2022, it is anticipated that it will account for 328 million jobs, or 1 in every 10 jobs on the planet. 2011 was one of the most challenging years ever experienced by the global Travel & Tourism industry. However, our latest research suggests that, despite political upheaval, economic uncertainty and natural disasters, the industry’s direct contribution to world GDP grew by nearly 3% to US$2 trillion and directly generated 1.2 million new jobs. This was supported by a 3% increase in visitor exports to US$1.2 trillion, with almost 3% growth in capital investment, which rose to over US$0.7 trillion. Moreover, while the macroeconomic environment remains very challenging, our latest projections point to continuous growth in the contribution of Travel & Tourism to global GDP and employment. Rising household incomes in emerging economies – not only the BRICs (Brazil, Russia, India and China) but increasingly across the rest of Southeast Asia and Latin America – will continue to fuel increased leisure demand. Similarly, growing international trade – particularly from emerging markets – will sustain business travel demand. In developed economies, consumers are likely to remain cautious, especially in European countries where austerity programmes are being implemented. This means that we expect growth in Travel & Tourism’s direct contribution to GDP to remain stable at 3% in 2012. We expect the industry to generate directly over 2 million new jobs, with a 2% increase in visitor exports and 3.5% growth in investment over the year. Rarely over the past 20 years have we been challenged by such economic and political uncertainty as we are seeing now. Our ongoing research underlines the importance of Travel & Tourism as a stabilising force globally – providing jobs, generating prosperity, and facilitating international trade and investment.

David Scowsill President & CEO World Travel & Tourism Council

Contents
The Economic Impact of Travel & Tourism 2012
2012 Annual Research: Key Facts .......................................................................................................1 Defining the Economic Contribution of Travel & Tourism.............................2 Travel & Tourism’s Contribution to GDP .....................................................................................3 Travel & Tourism’s Contribution to Employment ..........................................................4 Visitor Exports and Investment ..................................................................................................................5 Different Components of Travel & Tourism ............................................................................6 Summary Tables: Estimates & Forecasts .................................................................................7 The Economic Contribution of Travel & Tourism: Real 2011 Prices...
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