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25 dec

WORLD TOURISM – FACTS & FIGURES

World Tourism – some facts n figures ? Why is tourism and travel important for any economy? The direct contribution of Travel & Tourism to GDP in 2013 was USD 2,155.4bn (2.9% of GDP). This is forecast to rise by 4.3% to USD 2,248.2bn in 2014. This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation services (excluding commuter services). But it also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists. The direct contribution of Travel & Tourism to GDP is expected to grow by 4.2% pa to USD 3,379.3bn (3.1% of GDP) by 2024. The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and induced income impacts) was USD 6,990.3bn in 2013 (9.5% of GDP) and is expected to grow by 4.3% to USD 7,289.1bn (9.6% of GDP) in 2014. It is forecast to rise by 4.2% p.a. to USD 10,965.1bn by 2024 (10.3% of GDP). ? What’s the component of leisure and business travel out of the total contribution to GDP? Leisure travel spending (inbound and domestic) generated 75.6% of direct Travel & Tourism GDP in 2013 (USD3,412.8bn), compared with 24.4% for business travel spending (USD 1,103.7bn). Leisure travel spending is expected to grow by 4.3% in 2014 to USD 3,558.1bn, and rise by 4.4% p.a. to USD 5,451.2bn in 2024. Business travel spending is expected to grow by 4.7% in 2014 to USD 1,155.5bn, and rise by 3.7% pa to USD 1,661.1bn in 2024. ? What’s the %age of domestic traveller vis-à-vis foreign traveller? Domestic travel spending generated 71.3% of direct Travel & Tourism GDP in 2013 compared with 28.7% for visitor exports (ie foreign visitor spending or international tourism receipts). Domestic travel spending is expected to grow by 4.2% in 2014 to USD3,354.5bn, and rise by 4.2% pa to USD5,057.1bn in 2024. Visitor exports are expected to grow by 4.8% in 2014 to USD1,358.6bn, and rise by 4.2% pa to USD2,052.4bn in 2024. These are massive numbers and suggest effortlessly that travel is growing, and growing consistently, regardless of world facing several challenges on account of recession and terrorism. These numbers also indicate that increasingly more number of people are looking to travel within their country, and overseas as well. ? How does Travel & Tourism help in generating employment, and how many jobs it might help create? Travel & Tourism generated 100,894,000 jobs directly in 2013 (3.4% of total employment) and this is forecast to grow by 2.2% in 2014 to 103,069,000 (3.4% of total employment). This includes employment by hotels, travel agents, airlines and other passenger transportation services (excluding commuter services). It also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists. By 2024, Travel & Tourism will account for 126,257,000 jobs directly, an increase of 2.0% p.a. over the next ten years. The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply chain and induced income impacts, see page 2) was 265,855,000 jobs in 2013 (8.9% of total employment). This is forecast to rise by 2.5% in 2014 to 272,417,000 jobs (9.0% of total employment). By 2024, Travel & Tourism is forecast to support 346,901,000 jobs (10.2% of total employment), an increase of 2.4% p.a. over the period.

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