Tourism World Regional 2011

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World

2011Travel & Tourismeconomic impacT



THe WorlD Travel & Tourism council (WTTc), WHicHis THe Business leaDers’ Forum For Travel & Tourism,Has spenT more THan 20 Years DevelopinG iTs economicimpacT researcH For THe BeneFiT oF privaTe anD puBlicsecTor Decision-maKers. THis compreHensive researcHuses THe FrameWorK oF Tourism saTelliTe accounTs.

s T s t t a t (Tsa ) t k d b t d t d ,WTTc d t t h y 181 t t d ,

t t b , b d b t t T & T ’ t k y t t b t t t ty d y t. T th

t gth h – t d h d g t y d t t dt t g g y d w d j b t .

WTTc, j t w th t h t ox d e , h th y g t y h d t h d t k t g t t T & T d - k . W h d th d gy

t t g th d t t b t T & T t b y t t w th th un st t tD - d2008 Tourism Satellite Account: Recommended Methodological Framework(Tsa:rmF 2008).

Wh th h d t h g WTTc’ t t th z th T & T d t y th y ’ t , th h g th t d g t t w th th g b d t d Tsa b g b h d by t t t t f – d th t t g

b h k g d th t b t T & T t .

o t t h th y T & T 2010, w th th d t y’ d t t b tt g b GDp g by 3.3%, t us$1,770 b . D g 2011, th y t t t gth

th – by 4.5% t us$1,850 b , t g dd t 3 d t d t y j b . T k g t tt w d t , T & T ’ t t t b t th y x t d t t

us$5,987 b , 9.1% g b GDp d 258 j b .

Wh g wth g g w d y h g – b th g t d th t t y d d k t d th d bt , d th d th d t - th

T & T d t y t x t d t b th w d’ t t g w g t . e g g , t , x t d t b g y t t g h g wth, b t g b th t t td g t g g y b t d t t t .

W d ght d th t T & T ’ k y g wth b g g y g dby g t g th w d. Th h y d t t th t t T & Tt d g b y d g t y t, h g t t b d t d th

t ty by d g th b t q t b y t .

David ScowsillPresident & CEO

World Travel & Tourism Council

Geoffrey J W KentChairman, World Travel & Tourism Council and

Chairman & CEO, Abercrombie & Kent

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CONTENTS

0 K y F s

D h E C b T & T s 4

T & T s ’s C b GDP 5

T & T s ’s C b E p y 6

V s E p s 7

D f C p s T & T s 8

S y T b s(Estimates and Forecasts) 9

S y T b s(Economic Contribution of Travel & Tourism) 0-

G ss y

THE ECONOMIC IMPACT OF TRAVEL & TOURISM

USE OF MATERIAL IS AUTHORISED, PROVIDED SOURCE IS ACKNOWLEDGED

1-2 Queen Victoria Terrace, Sovereign Court, London E1W 3HA, UKTel: +44 (0) 0 748 8007. Fax: +44 (0) 0 7488 008. Email: q s@w . . www.w .2



GDP: Direct Contribution4.2%

GDP: Total Contribution4.2%

Employment: Direct Contribution2.0%

Employment: Total Contribution2.3%

Visitor Exports4.3%

Investment5.4%

Direct Indirect Induced

The direct contribution of Travel &Tourism to GDP is expected to be US$1,850.0bn (2.8% of totalGDP) in 2011, rising by 4.2% pa to US$2,860.5bn (2.9%) in 2021 (in constant 2011 prices).

Average real growth pa2011-21

Travel & Tourism investment is estimated at US$652.4bn or 4.5% of total investment in 2011. Itshould rise by 5.4% pa to reach US$1,487.9bn (or 4.6%) of total investment in 2021.

Travel & Tourism visitor exports are expected to generate US$1,162.7bn (5.8% of total exports) in2011, growing by 6.6% pa (in nominal terms) to US$1,789.2bn (4.7%) in 2021.

The total contribution of Travel & Tourism to employment, including jobs indirectly supported bythe industry, is forecast to rise by 2.3% pa from 258,592,000 jobs (8.8% of total employment) in 2011to 323,826,000 jobs (9.7%) by 2021.

TEL: +44 (0) 20 7481 8007 . FAX: +44 (0) 20 7488 1008 . [email protected] . www.wttc.org

GDP (2011 US$bn)

© 2011 World Travel & Tourism Council

2011 US$bn

= Total contribution of Travel

& Tourism

Employment ('000)

1-2 QUEEN VICTORIA TERRACE, SOVEREIGN COURT, LONDON E1W 3HA, UK

WORLD

Total Contribution of Travel & Tourism to GDPBreakdown of Travel & Tourism's Total Contribution to GDP and

Employment 2011

The total contribution of Travel &Tourism to GDP, including its wider economic impacts, isforecast to rise by 4.2% pa from US$5,991.9bn (9.1% of GDP) in 2011 to US$9,226.9bn (9.6%) by

2021.

Travel & Tourism is expected to support directly 99,048,000 jobs (3.4% of total employment) in2011, rising by 2.0% pa to 120,427,000 jobs (3.6%) by 2021.

2011 KEY FACTS

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•

•

Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on behalf of the ‘community at large’ – eg tourism marketing and promotion, aviation, administration, security services, resort areasecurity services, resort area sanitation services, etc;

Domestic purchases of goods and services by the sectors dealing directly with tourists - including, for example, purchases of food and cleaning services by hotels, of fuel and catering services by airlines, and IT services by travel agents.

Travel & Tourism investment spending – an important aspect of both current and future activity that includes investmentactivity such as the purchase of new aircraft and construction of new hotels;

The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in NationalAccounting, of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure and recreation services

The direct contribution of Travel & Tourism to GDP is calculated from total internal spending by ‘netting out’ the purchasesmade by the different tourism sectors. This measure is consistent with the definition of Tourism GDP, specified in the 2008

The ‘induced’ contribution measures the GDP and jobs supported by the spending of those who are directly or indirectlyemployed by the Travel & Tourism industry.

that deal directly with tourists.

PLEASE NOTE THAT DUE TO CHANGES IN METHODOLOGY BETWEEN 2010 AND 2011, IT IS NOT POSSIBLE TOCOMPARE FIGURES PUBLISHED BY WTTC IN 2011 WITH THE SERIES PUBLISHED IN PREVIOUS YEARS

DEFINING THE ECONOMIC CONTRIBUTION OFTRAVEL & TOURISM

Tourism Satellite Account: Recommended Methodological Framework (TSA: RMF 2008).

The total contribution of Travel & Tourism includes its ‘wider impacts’ (ie the indirect and induced impacts) on the economy.

The ‘indirect’ contribution includes the GDP and jobs supported by:

The direct contribution of Travel & Tourism to GDP reflects the ‘internal’ spending on Travel & Tourism (total spendingwithin a particular country on Travel & Tourism by residents and non-residents for business and leisure purposes) as well asgovernment 'individual' spending - spending by government on Travel & Tourism services directly linked to visitors, such ascultural (eg museums) or recreational (eg national parks).

Travel & Tourism is an important economic activity in most countries around the world. As well as its direct economic impact,the industry has significant indirect and induced impacts. The UN Statistics Division-approved Tourism SatelliteAccounting methodology (TSA:RMF 2008) quantifies only the direct contribution of Travel & Tourism. But WTTCrecognises that Travel & Tourism's total contribution is much greater, and aims to capture its indirect and induced impactsthrough its annual research.

Direct Contribution

Total Contribution

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1 All values are in constant 2011 prices & exchange rates

World: Direct Contribution of Travel & Tourism to GDP

TRAVEL & TOURISM'S CONTRIBUTION TO GDP 1

World: Total Contribution of Travel & Tourism to GDP

The direct contribution of Travel & Tourism to GDP is expected to be US$1,850.0bn in 2011 (2.8% of

GDP). This primarily reflects the economic activity generated by industries such as hotels, travel agents,airlines and other passenger transportation services (excluding commuter services). But it also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists.

% of whole economy GDP

Constant 2011 US$bn

The direct contribution of Travel & Tourism to GDP is expected to grow by 4.2% per annum (pa) toUS$2,860.5bn (2.9% of GDP) by 2021.

Constant 2011 US$bn


% of whole economy GDP


The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supplychain and induced income impacts, see page 2) is expected to be US$5,991.9bn in 2011 (9.1% of GDP). It isforecast to rise by 4.2% pa from US$9,226.9bn by 2021 (9.6% of GDP).

0.0

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Travel & Tourism is expected to generate 99,048,000 jobs directly in 2011 (3.4% of total employment). This

includes employment by hotels, travel agents, airlines and other passenger transportation services

TRAVEL & TOURISM'S CONTRIBUTION TOEMPLOYMENT

World: Direct Contribution of Travel & Tourism to Employment

World: Total Contribution of Travel & Tourism to Employment

The total contribution of Travel & Tourism to employment (including wider effects from investment, thesupply chain and induced income impacts, see page 2) is expected to be 258,592,000 jobs in 2011 (8.8% of total employment). By 2021, Travel & Tourism is forecast to support 323,826,000 jobs (9.7% of totalemployment), an increase of 2.3% pa over the period.

(excluding commuter services). It also includes, for example, the activities of the restaurant and leisureindustries directly supported by tourists.

'000

Direct Indirect Induced Direct Indirect Induced

By 2021, Travel & Tourism will account for 120,427,000 jobs directly, an increase of 21,379,000 (21.6%)over the next ten years.

'000 % of whole economy employment

% of whole economy employment

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Constant 2011 US$bn mn Foreign visitor exports as % of total exports

Foreign visitor exports (LHS) Foreign tourist arrivals (RHS)

Constant 2011 US$bn


VISITOR EXPORTS 1

World: Capital Investment in Travel & Tourism

World: Visitor Exports and International Tourist Arrivals

This means that Travel & Tourism’s share of total global investment will rise from 4.5% in 2011 to 4.6% in2021.

INVESTMENT

Travel & Tourism is expected to attract capital investment of US$652.4bn, rising by 5.4% pa toUS$1,487.9bn.

Visitor exports are a key component of the direct contribution of Travel & Tourism. The World is expected

to attract 970,160,000 international tourist (overnight visitor) arrivals in 2011, generating US$1,162.7bn invisitor exports (foreign visitor spending, including spending on transportation).

Travel & Tourism capital investment as % of wholeeconomy capital investment

By 2021, international tourist arrivals are forecast to total 1,362,120,000, an increase of 6.6% pa generatingexpenditure of US$1,789.2bn.

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Direct 30.9%

Indirect 50.6%

Induced 18.5%

a)

b)

c)


Leisure travel spending is expected to totalUS$2,962.6bn in 2011, rising to US$4,603.6bnin 2021.

Business travel spending is expected to totalUS$899.0bn in 2011, rising to US$1,401.7bn in2021.

Domestic travel spending is expected to generate69.8% of direct Travel & Tourism GDP in 2011compared with 30.2% for visitor exports. (ieforeign visitor spending or international tourismreceipts).

Foreign visitor spending 30.2% Domestic spending 69.8%

Leisure spending 76.7% Business spending 23.3%

World: Travel & Tourism's Direct Contribution to GDP -Domestic vs Foreign, 2011

Domestic travel spending is expected to totalUS$2,693.4bn in 2011, rising to US$4,206.5bnin 2021.

Visitor exports are expected to totalUS$1,162.7bn in 2011, rising to US$1,789.2bnin 2021.

Government collective: 7.6%

Supply chain: 35.0%

DIFFERENT COMPONENTS OF TRAVEL & TOURISM 1

Leisure travel spending (inbound and domestic) isexpected to generate 76.7% of direct Travel &Tourism GDP in 2011 compared with 23.3% for business travel spending.

World: Travel & Tourism's Direct Contribution to GDP -Business vs Leisure, 2011

World: Breakdown of Travel & Tourism's Total Contributionto GDP, 2011

Investment: 7.9%

Indirect is the sum of:

The Travel & Tourism industry contributes to

GDP and employment in many ways as detailedon page 2.

The total contribution of Travel & Tourismto GDP is three times greater than its directcontribution.

b

a

c

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Tourism World Regional 2011

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