Travel
0

Tourism Adds $2000b to Global Economy in 2013

Tourism Adds $2000b to Global Economy in 2013Tourism Adds $2000b to Global Economy in 2013

Statistics show the direct and total economic impact of travel & tourism on the global economy from 2006 to 2013. In 2009, the direct impact of travel & tourism was $ 1,886 billion U.S. dollars. It includes accommodation, transportation, entertainment and attractions: Accommodation services, food & beverage services, retail trade, transportation services and cultural, sports & recreational services. The figures for total impact also include indirect and induced contributions. 

The global travel and tourism industry generates several thousand billion dollars in revenue each year. Estimations on the total economic impact of the industry vary, depending on what kinds of expenditure are taken into account. 

The World Tourism Organization (UNWTO) estimates that international tourism receipts had a value of $ 1,075 billion in 2012. This includes expenditure by international visitors for transport and other payments made for services and goods in the destination country. Estimates by the World Travel and Tourism Council (WTTC) valued the direct impact of travel and tourism on the global economy at $ 2,120 billion in 2013. The estimated total contribution of the industry, including indirect and induced effects, is three times that high, according to Statistica.com.

In 2012, China was the country with the highest international tourism expenditure. Chinese nationals spent an estimated total of $ 102 billion when travelling to destinations outside their home country. The other countries amongst the top 5 in regards to international tourism expenditure were Germany ($ 83.8 billion), the United States ($ 83.5 billion), the United Kingdom ($ 52.3 billion) and Russia ($ 42.8 billion). 

The number of international tourist arrivals worldwide exceeded the one billion mark for the first time in 2012 according to estimates by the UNWTO. It is forecasted that the number of arrivals will grow to around 1.36 billion by 2020 and 1.8 billion in 2030. In 2012, Europe was the region with the highest number of international tourist arrivals, totaling more than 530 million. The Asia Pacific region had the second-most arrivals with around 230 million. 

Financialtribune.com