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Travel & Tourism Forecast to Pass 100 Million Jobs and $two trillion GDP in 2012

By on Mar 18, 2012 in Spain Tourism

(PRWEB UK) 7 March 2012

According to research by the Planet Travel &amp Tourism Council (WTTC), the international Travel &amp Tourism market will grow by two.8% in 2012, marginally more quickly than the worldwide rate of economic growth, predicted to be 2.5%.

This rate of growth implies that Travel &amp Tourism sector is expected to directly contribute $ two trillion to the international economic climate and sustain some 100.three million jobs.

When the wider economic impacts of the industry are taken into account, Travel &amp Tourism is forecast to contribute some $ 6.five trillion to the worldwide economy and create 260 million jobs or 1 in 12 of all jobs on the planet.

In 2011, Travel &amp Tourisms total economic contribution, taking account of its direct, indirect and induced impacts, was US$ 6.3 trillion in GDP, 255 million jobs, US$ 743 billion in investment and US$ 1.two trillion in exports. This contribution represented 9% of GDP, 1 in 12 jobs, 5% of investment and five% of exports.

David Scowsill, President &amp CEO of WTTC, mentioned: In 2012, when international travellers are expected to surpass one billion for the first time, the industry will pass two other significant milestones: a direct contribution of $ 2 trillion to the world economy and 100million jobs. But these numbers are dwarfed by the total forecast contribution of our industry $ 6.five trillion to the international economy and 260 million jobs.

Over the medium-term, the prospects of the industry are even much more positive with common annual growth expected to be four% by way of to 2022 by which time Travel &amp Tourism will employ 328 million people or 1 in 10 of all jobs on the planet.

David Scowsill continued: It is clear that the Travel &amp Tourism market is going to be a significant driver of global growth and employment for the next decade. Our sector is responsible for generating jobs, pulling men and women out of poverty, and broadening horizons. It is one of the worlds great industries.

Other selected highlights from the analysis show:

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