Travel & Tourism: Economic Impact

WTTC – World Travel Tourism Council (2015/2018/2019)

As one of the world’s largest economic sectors, Travel & Tourism creates jobs, drives exports, and generates prosperity across the world. The sector, comprised of a wide range of industries, aims to serve and support domestic, international, business and leisure visitors. Companies, large and small, in industries ranging from accommodation and transportation to food & beverage, retail and culture and sports & recreation, all strive to create products and services that bring people together, support communities and celebrate the wonders that our world can offer.

WTTC produces an annual analysis quantifying the global economic and employment impact of Travel & Tourism in 185 countries and 25 regions. These reports are a vital tool in helping us to equip public and private sector bodies with hard evidence of the huge value Travel & Tourism brings to the economy, so that their policymaking and investment decisions support our sector.  

Here, it is possible to check the reports for Bahamas, Barbados and the world.

Annual Research: Key Highlights

WTTC – World Travel Tourism Council (2019)

Coutry factsheets cointaning information about: contribution of travel and tourism to GDP, contribution of travel and tourism to employment, international visitor impact, inboud arrives and outband arrives.

It is possible to check here the following countries/region factsheets: Bahamas, Barbados, Caribbean, Guyana, Suriname and Trinidad and Tobago.

 

World Tourism Barometer

UNWTO – World Tourism Organization (2020)

This publication monitors short-term tourism trends on a regular basis to provide global tourism stakeholders with up-to-date analysis on international tourism.

Growth in international tourist arrivals continues to outpace the economy. International tourist arrivals (overnight visitors) worldwide grew 4% in 2019 to reach 1.5 billion, based on data reported by destinations around the world.

2019 was another year of strong growth, although slower compared to the exceptional rates of 2017 (+6%) and 2018 (+6%). Demand was slower mainly in advanced economies and particularly in Europe. All regions enjoyed an increase in arrivals. The Middle East (+8%) led growth, followed by Asia and the Pacific (+5%). International arrivals in Europe and Africa (both +4%) increased in line with the world average, while the Americas saw growth of 2%.

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Global Market Forecast. Cities, Airports & Aircraft (2019-2038)

Airbus (2019)

Air transport will continue to play a key role in connecting cities and their people particularly in emerging markets or where cost or simply geography make alternatives impossible. In doing this commercial aviation contributes 3.6% of global GDP and supports more than 65 million jobs. However, we recognise that aviation also contributes 2% to 3% of the world’s manmade emissions of carbon dioxide (CO), with transportation as a whole (cars, trains, shipping etc.) producing ~24% according to the United Nations Intergovernmental Panel on Climate Change (IPCC). So our industry has worked diligently to limit its impact on the environment. For example aircraft today, are 75% quieter and 80% more fuel ef‑ cient per seat than they were when jets were becoming a more common sight in cities around the world. But this is by no means the end of these efforts.

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Commercial Market Outlook 2019 - 2038

Boeing (2019)

Year-over-year traffic growth averaged 6.7 percent during the past five years as measured in Revenue Passenger Kilometers (RPKs). This growth is well above the long-term average of 5 percent. Low air fares, higher living standards with a growing middle class in large emerging markets, the growth of tourism and travel relative to total consumer spending in major economies, and new airline business models are all driving this strength in air travel growth.

Emerging markets around the world continue to drive economic growth. They accounted for more than 60 percent of the world’s economic growth between 2008 and 2018. In the last 10 years, routes between or within emerging markets accounted for approximately 40 percent of new passenger traffic.

A feature of these emerging economies is rapid urbanization. As people enter the urban middle class, their propensity to travel increases dramatically. According to the World Bank, over 4 billion people now live in cities globally, with unprecedented access to air travel from nearby airports.

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2020 State of the Cruise Industry Outlook

CLIA – Cruise Lines International Association (2019)

The report offers a look at the research, analytics and trends driving the cruise industry forward in the coming year and beyond. It  takes an in-depth look at the impact of cruising and the trends we are witnessing across the industry, including environmental sustainability, responsible tourism and unique passenger offerings.

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2018 Global Passenger Report

CLIA – Cruise Lines International Association (2019)

Brief presentation containing passenger data categorized by: volume, cruise duration, age, continent, etc.

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2019 Cruise Trends & Industry Outlook

CLIA – Cruise Lines International Association (2019)

The report offers a look at the trends impacting cruise travel in the coming year and beyond as well as the overall global economic impact.

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