In 2013 in Hong Kong:
- The total contribution of Travel & Tourism to GDP was HKD464.1bn, (21.8% of GDP). - The total contribution of Travel & Tourism to employment, including jobs indirectly supported by the sector was 716,571 jobs (19.1% of total employment). - Travel & Tourism investment was HKD48.6bn, or 9.4% of total investment. It is projected to rise by 0.7% in 2014.
Each year, WTTC undertakes an economic analysis of the impact of the Travel & Tourism sector in 184 countries.
In 2013, globally:
- Travel & Tourism's total contribution to the global economy rose to 9.5% (nearly US $7 trillion) - Travel & Tourism continues to outperform the wider economy in terms of economic growth (3% vs. 2%) - Travel & Tourism not only outpaced the wider economy, but also grew faster than other significant industries such as financial and business services, retail and distribution, public services, transport and manufacturing. - 4.7 million new jobs were created as a result of tourism activity - The industry supported nearly 266 million jobs - so 1 in 11 of all jobs in the world. - Visitor exports, the measure of money spent by international tourists, exceeded expectations rose by 4% to US$1.3trillion and by more than 10.2% within South East Asia. - T&T investment grew by 2.9%. - South East Asia leads the pack in terms of both total Travel & Tourism economic and employment growth at 7.9% and 4.1% respectively. - In Europe, both total Travel & Tourism GDP and employment growth have exceeded expectations, boosted by strong demand from long-haul markets. - There was particularly strong expenditure growth from travellers of China, Russia, Brazil, Indonesia, Turkey and Egypt in 2013 to other destinations. - Economies which benefited from expanded revenues from hosting international travellers included the US, UK, Thailand, Hong Kong, Turkey, Japan, Greece, Russia and Indonesia.
In 2014, globally:
- Travel & Tourism growth is expected to outpace growth in the whole economy (4.3% vs. 2.8%) - T&T investment is forecast to increase by 5.6% increase - It is anticipated that there will be a 4.8% increase in visitor exports. - At 8.3%, China is expected to grow the most of any G20 country in 2014. - The sector is expected to generate around 6.5 million new jobs.
David Scowsill, President & CEO of WTTC, says 2013 proved another successful year for the sector; "Travel & 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% at a global level year on year, to US$1.3 trillion, and by over 10% within South East Asia. It is clear that the growth in Travel & 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."
However, Mr Scowsill reminds governments that they need to take action; "The outlook for Travel & Tourism for the next ten years looks extremely favourable, with growth forecast of more than 4% annually. This will require Governments to implement more open visa regimes and to adopt intelligent rather than punitive taxation policies. It is also critical that public and private partnerships ensure that long term infrastructure and human resource needs are planned responsibly and sustainably, to absorb the inevitable growth that we are forecasting. If the right steps are taken, Travel & Tourism can be a true force for good."
Please refer to the reports for more details.
Read the original here:
- Seaching for Condors in the Andes - November 8th, 2009 [November 8th, 2009]
- Visiting "The Mayor" again - November 8th, 2009 [November 8th, 2009]
- The fantasy boot in my dream of childhood - November 8th, 2009 [November 8th, 2009]
- Day 53 54 55 - November 8th, 2009 [November 8th, 2009]
- www.acb.my - November 8th, 2009 [November 8th, 2009]
- day 22 - November 8th, 2009 [November 8th, 2009]
- Hoover Dam Grand Canyon Byrce Canyon and another little incident... - November 8th, 2009 [November 8th, 2009]
- Amazing first week - November 8th, 2009 [November 8th, 2009]
- It's Been Awhile - November 8th, 2009 [November 8th, 2009]
- Busan - November 8th, 2009 [November 8th, 2009]
- Existential Migration: Feeling at Home as the Foreigner - November 8th, 2009 [November 8th, 2009]
- Passport Chop - November 8th, 2009 [November 8th, 2009]
- Travel Photography with a Disposable Camera (it’s NOT an oxymoron) - November 8th, 2009 [November 8th, 2009]
- Miss Travel Girl - November 8th, 2009 [November 8th, 2009]
- Cape to Cairo - November 8th, 2009 [November 8th, 2009]
- Alison Travels - November 8th, 2009 [November 8th, 2009]
- True Nomads - November 8th, 2009 [November 8th, 2009]
- How the Economy Affected 16 Travellers in 2009 - November 8th, 2009 [November 8th, 2009]
- Do Travel Disasters Make the Best Travel Stories? - November 8th, 2009 [November 8th, 2009]
- The Mother of All Trips - November 8th, 2009 [November 8th, 2009]
- A story by Kudra Ricketts - December 13th, 2009 [December 13th, 2009]
- Auckland City - December 13th, 2009 [December 13th, 2009]
- Another Published Article Penny - December 13th, 2009 [December 13th, 2009]
- A Sparkling Xmas Surprise Penny - December 13th, 2009 [December 13th, 2009]
- Sandboarding - December 13th, 2009 [December 13th, 2009]
- The Way Of Make Money In Runescape - December 13th, 2009 [December 13th, 2009]
- Highway 1 California - December 13th, 2009 [December 13th, 2009]
- cancun on thanksgiven - December 13th, 2009 [December 13th, 2009]
- On tour with Louise and Zane 46 students - December 13th, 2009 [December 13th, 2009]
- Hvad vi har lavet siden Gili - December 13th, 2009 [December 13th, 2009]
- Thailand Check. Laos here we come. - December 13th, 2009 [December 13th, 2009]
- Team America - December 13th, 2009 [December 13th, 2009]
- Tour Operator of Bangladesh Sundarbans Adventure Tour Package - December 13th, 2009 [December 13th, 2009]
- The Last Leg - December 13th, 2009 [December 13th, 2009]
- Dec 13 2009 - December 13th, 2009 [December 13th, 2009]
- Latest Border News - December 13th, 2009 [December 13th, 2009]
- The Wandering Soul’s Wander Tales - December 13th, 2009 [December 13th, 2009]
- Adventure Rob - December 13th, 2009 [December 13th, 2009]
- The Golden Papaya - December 13th, 2009 [December 13th, 2009]
- Support Passports with Purpose 2009 - December 13th, 2009 [December 13th, 2009]
- Vagabonding at 60 - December 13th, 2009 [December 13th, 2009]
- The Books that Inspired Us to Travel in 2009 - December 14th, 2009 [December 14th, 2009]
- Zululand drakensberg Lesotho and the wild coast - December 14th, 2009 [December 14th, 2009]
- The Beautiful Higlands - December 14th, 2009 [December 14th, 2009]
- Loch Ness to Inverness and Culloden - December 14th, 2009 [December 14th, 2009]
- Aqaba The Little Merman - December 14th, 2009 [December 14th, 2009]
- Royal Deeside and the Castle Trail - December 14th, 2009 [December 14th, 2009]
- Southward in the Rain to Glamis Castle and Crail - December 14th, 2009 [December 14th, 2009]
- Iguassu Falls - December 14th, 2009 [December 14th, 2009]
- Stirling Castle and Edinburgh - December 14th, 2009 [December 14th, 2009]
- Edinburgh Old Town - December 14th, 2009 [December 14th, 2009]
- Galapagos II - December 14th, 2009 [December 14th, 2009]
- El Chalten and Fitz Roy Massif - December 14th, 2009 [December 14th, 2009]
- Semuc Champey - December 14th, 2009 [December 14th, 2009]
- Mechanical Problems in Flight - December 14th, 2009 [December 14th, 2009]
- "ACDC Tour Budapest without a satnav" - December 14th, 2009 [December 14th, 2009]
- Liat Airlines Stay Away - December 14th, 2009 [December 14th, 2009]
- Bariloche - December 14th, 2009 [December 14th, 2009]
- Lundi Macon - December 14th, 2009 [December 14th, 2009]
- Planning Australia Tour in Best way - December 14th, 2009 [December 14th, 2009]
- Family Fun In Breckenridge Colorado - December 14th, 2009 [December 14th, 2009]
- 5 Weeks in Australia - December 14th, 2009 [December 14th, 2009]
- The Movies and Music that Inspired Us to Travel in 2009 - December 16th, 2009 [December 16th, 2009]
- A wonderful Japanes experience - December 16th, 2009 [December 16th, 2009]
- So traveling again to a new part of the world - December 16th, 2009 [December 16th, 2009]
- Kangaroo roo roo a pinapple shake a tree.... - December 16th, 2009 [December 16th, 2009]
- Cutting wedding cost in the depression - December 16th, 2009 [December 16th, 2009]
- Pineapple Farm - December 16th, 2009 [December 16th, 2009]
- South India Chennai Pondicherry Auroville... - December 16th, 2009 [December 16th, 2009]
- Back to Amarpurkashi Village Life... - December 16th, 2009 [December 16th, 2009]
- MIA - December 16th, 2009 [December 16th, 2009]
- The most northern of Thailand - December 16th, 2009 [December 16th, 2009]
- Photo's - December 16th, 2009 [December 16th, 2009]
- Trip to Marleshwar - December 16th, 2009 [December 16th, 2009]
- Season's Greetings from Berkeley - December 16th, 2009 [December 16th, 2009]
- Small hiccup - December 16th, 2009 [December 16th, 2009]
- Thailand Laos and Vietnam in Three Weeks - December 16th, 2009 [December 16th, 2009]
- On the road again - December 16th, 2009 [December 16th, 2009]
- Part Two The Map Part Way in Cabal - December 16th, 2009 [December 16th, 2009]
- Heading Back North - December 16th, 2009 [December 16th, 2009]