Travel Reference
In-Depth Information
TABLE 1.1 World Economic Impact: Estimates and Forecasts
2010
2020
World
US$ Billion
% of Total
Growth
US$ Billion
% of Total
Growth
Personal T&T*
3,111
8.4
1.6
5,793
8.8
4.1
Business Travel
819
1.3
1.8
1,589
1.4
4.3
Government Expenditures
436
3.8
2.6
744
4.0
3.1
Capital Investment
1,241
9.2
1.7
2,757
9.4
5.3
Visitor Exports
1,086
6.1
0.9
2,160
5.2
5.2
Other Exports
850
4.8
5.9
1,908
4.5
6.5
T&T Demand
7,543
9.4
1.1
14,950
9.5
4.7
T&T Industry GDP
1,986
3.2
0.7
3,650
3.2
4.0
T&T Economy GDP
5,751
9.2
0.5
11,151
9.6
4.4
T&T Industry Employment (000)
81,913
2.8
0.1
104,740
3.2
2.5
T&T Economy Employment (000)
235,758
8.1
0.3
303,019
9.2
2.5
Travel and tourism
Source: World Travel and Tourism Council.
many others, it ranks among the top three industries. Tourism has grown rapidly to become a major
social and economic force in the world.
The 2010 WTTC estimates for the world is the tenth set of Tourism Satellite Accounting (TSA) that
Oxford Economics has prepared for WTTC. The
first, commissioned in 2001, reengineered the models
previously developed during the 1990s. The second, prepared in 2002, served an important role in
helping to quantify the effects of the tragic events of September 11, 2001, on tourism. The third, in
2003, signi
cantly upgraded and enhanced the quality, sophistication, and precision of the TSA
research and presented a second (worst-case) scenario for the Iraq war. The 2004 research increased
the world coverage by adding 13 countries not previously included in the TSA research, bringing the
total number of countries included to 174. The 2007 research is now
firmly anchored in the
international standard for tourism satellite accounting that was developed by UNWTO, OECD,
and Eurostat, and approved by the United Nations Statistical Commission in 2000 (see Chapter 14 for
further discussion of tourism satellite accounting). Visit the WTTC Web site (
www.wttc.org
) for the
latest estimates and forecasts for 181 countries.
As tourism has grown, it has moved from being the province of the rich to being accessible to the
masses, involving millions of people. The UNWTO attempts to document tourism
s growth in its
annual publications titled Tourism Highlights and Compendium of Tourism Statistics. Table 1.2 shows
UNWTO international tourist arrival data up to 2010 and the strong rates of growth for the last
several decades, marred only by no growth in 2001, a downturn in 2003, and a decline in 2009, when
'
STATISTICAL DATA AVAILABILITY
O
ne of the problems in collecting and reporting statistical data for a topic is the data lag. As this topic
was being revised, 2009 data were just becoming available. Unfortunately, data lags are increasing
rather than decreasing. This disturbing reality is especially upsetting when one considers that travel is a
dynamic and changing industry. The data in this topic provide a perspective on the size and importance of
the industry and its sectors. Users are encouraged to access the sources provided to update the information
and determine if trends are continuing or changing. One of the best ways to do that is to get on the
Internet. Web site addresses are provided in many cases to enable you to locate the latest information
available.
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