World Travel & Tourism is expected to generate in excess of US$7 trillion in 2007, rising to over US$13 trillion over the coming decade according to the World Travel & Tourism Council's (WTTC) Tourism Satellite Account (TSA) research, sponsored by Accenture and prepared by Oxford Economics.
The new TSA results show strong performance for Travel & Tourism Demand in 2007, growing at a rate of 3.9 per cent. This forecast points to a mature but steady phase of growth for World Travel & Tourism in the short and medium term, averaging 4.3 per cent per annum, between 2008 and 2017.
Some findings summarised from the report are:
- The US is still in number one position accounting for US$1,689,3 billion this year
- China is going to gain ground and grow at almost 10% per annum over the next 10 years
- By 2017 the Russian Federation will enter the top 10 countries
- The world’s highest performers are Montenegro, China and India
- Other high performers are Croatia, Romania, Namibia
No mention of South Africa… we ought to be there!
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