06 January 2013
WTTC: Economic Impact of Travel & Tourism
The World Travel and Tourism Council states
"Travel & Tourism’s performance in the first half of 2012, especially international arrivals, has been positive. World Travel & Tourism GDP is projected to grow by 2.7% in 2012. This is especially impressive as set against the wider global economic backdrop, many economies are slowing or are showing below-trend or negative growth. In the Eurozone, sovereign debt issues and austerity policies have reduced trade and spending considerably over the first half of 2012 impacting economies around the world. The pace of growth in emerging markets is faster than in advanced economies, however, they too are feeling the impact of Europe’s financial troubles."
For the mid year update (Oct 2012) click here.