Global Travel & Tourism continues to grow in spite of the continuing economic challenges.Despite progressive downgrades to growth forecasts through 2011, the industry grew by 3% over the course of the year(in terms of Travel & Tourism’s contribution to GDP). Tourism’s direct contribution to GDP in 2011 was US$2 trillion and the industry generated 98 million jobs. Taking account of its direct, indirect and induced impacts, Travel & Tourism’s total contribution in 2011 was US$6.3 trillion. In GDP, 255 million jobs, US$743 billion in investment and US$1.2 trillion in exports. This contribution represented 9% of GDP, 1 in 12 jobs, 5% of investment and 5% of exports. Growth forecasts for 2012, although lower than anticipated a year ago, are still positive at 2.8% in terms of the industry’s contribution to GDP.
Posted on: Thu, 06 Jun 2013 05:16:36 +0000
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