Latest News

Back to Latest News back

 

World Travel & Tourism Council Economic Impact Report highlights value of tourism

World Travel & Tourism Council Economic Impact Report highlights value of tourism
April 15, 2015

The World Travel & Tourism Council’s newly released Travel & Tourism: Economic Impact 2015 report shows that tourism generated US$7.6 trillion (10% of global GDP) and 277 million jobs (one in 11 jobs) for the global economy in 2014.

Explaining that in recent years tourism has grown at a faster rate than both the wider economy and other significant sectors, World Travel & Tourism Council (WTTC) President and Chief Executive David Scowsill highlighted that 2014 also saw international tourist arrivals surge, reaching nearly 1.14 billion and visitor spending more than matched that growth.

Writing in the introduction to the report, Scowsill explains “tourism expansion is forecast to continue at a stronger rate than last year, with the total contribution to GDP expected to increase by 3.7%.

“New destinations and investment opportunities will also continue to emerge as tourism becomes increasingly affordable across the developing world.

 “This growth will require countries to adopt a concerted and coordinated approach to talent planning and development between their industry, governments and educational institutions to ensure they fulfil their potential in the years ahead.”

The Travel & Tourism: Economic Impact 2015 report includes five charts that explain the significance of the travel industry.

Chart one: How money moves in and out of all sectors of tourism and flows into adjacent sectors – a remarkable illustration of how tourism intersects with almost every other consumer sector.

The money flow in the global tourism industry. Courtesy of the WTTC.

Chart two: What constitutes the global tourism industry, often a source of confusion even among the industry players. This shows the direct, indirect, and induced contributions of tourism and its various sub-sectors.

Courtesy of the WTTC.

Chart three: The hard numbers in tourism. All topline indicators are on the up, as the world recovers from the economic crisis in fits and starts. The big number to keep in mind: tourism constitutes 10% of  the world’s GDP.

Courtesy of the WTTC.

Chart four: A breakdown of the 2014 numbers, with the GDP contribution of travel touching $8 trillion in 2015 and rising to almost $12 trillion a decade from now.

Courtesy of the WTTC.

Chart five: Tourism employment and what that means for the GDP. About 105 million people were employed directly in tourism in 2014, and with other indirect and induced sectors, it adds up to about 277 million jobs, about 10% of world employment.

Courtesy of the WTTC.

Click here to download the Travel & Tourism: Economic Impact 2015 report.

10th March 2015 - 14 MILLION JOBS AT RISK DUE TO GLOBAL TOURISM TALENT SHORTAGE

4th March 2015 - SNAPSHOT REVEALS RISING VALUE OF TOURISM TO MELBOURNE


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

HTS Group Ltd

HTS Group Ltd provides a complete design, system integration, installation and maintenance package to the transportation, traffic engineering, parking and sports timing industries in New Zealand,…

read more

Aquatics / Events / Sport / Technology

 
 

ICP

ICP is an Australian-based company focused on indoor climbing. ICP will manage your project from initial design to completion and beyond, whether you're building an international-level climbing…

read more

Attractions / Fitness / Recreation

 
 

AIS Water

AIS Water, the trading name of Australian Innovative Systems, is a multi-award winning, Australian owned leader in the design, production and supply of commercial and residential chlorine generators…

read more

Aquatics / Safety / Technology

 
 

Enta Australasia

As of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as VIVATICKET Pty Ltd.  Click here to view the VIVATICKET Pty Ltd listing.  19th July 2018 - ENTA…

read more

Technology / Ticketing / Venues

 
 

HRMWEB

At easyemployer we've come up with a software solution that manages one of your most important, and often most costly, business resources - your staff. We are helping 100s of clients to…

read more

Finance / Fitness / Technology

 
 

SLE WORLDWIDE AUSTRALIA PTY LTD

SLE Worldwide Australia is a Managing General Underwriter specialising in insuring risks in the world of Sports, Leisure and Entertainment. Be it relaxing, playing, organising or watching sports,…

read more

Insurance / Venues

 
 

DEBITSUCCESS

Over the past 10 years Debitsuccess has been providing expert billing services to businesses across Australia. Debitsuccess is now the largest full service direct debit provider in Australasia,…

read more

Billing / Finance / Fitness / Golf / Recreation

 
 

Altitude Training Systems

ATS are global leaders in altitude training and research. From mask systems and inflatable tents to simulated altitude facilities, we help all athletes gain the competitive edge. Our…

read more

Fitness / Sport / Technology

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business