wttc romania 2011

8/7/2019 wttc romania 2011

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Romania

2011Travel & Tourismeconomic impacT


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CHAIRMAN:

Geo rey J W Kent Founder & Executive ChairmanAbercrombie & Kent

VICE CHAIRMEN:

Jean-Claude Baumgarten Vice ChairmanWorld Travel & Tourism Council

Edouard Ettedgui Group Chie ExecutiveMandarin Oriental Hotel Group

Sir Maurice Flanagan KBE Executive Vice ChairmanEmirates Airline & Group

Michael Frenzel Chairman o the Executive Board

TUI AGMark Harms Chairman & CEOGlobal Leisure Partners

Stephen P Holmes Chairman & CEOWyndham Worldwide

Man redi Le ebvre DOvidio ChairmanSilversea Cruises

Brett Tollman President & Chie ExecutiveThe Travel Corporation

EXECUTIVE COMMITTEE:

Marilyn Carlson Nelson ChairmanCarlson

Je Clarke President & CEOTravelport

Andrew Cosslett CEOInterContinental HotelsGroup PLC

Qiang Duan ChairmanBeijing Tourism Group

Sebastin Escarrer Vice ChairmanSol Meli

Manuel Fernando Esprito Santo ChairmanRio orte Investments SA

Denis Hennquin CEOAccor

Pansy Ho Managing DirectorShun Tak Holdings Limited

James Hogan CEOEtihad Airways

Hubert Joly President, CEO & DirectorCarlson

Richard R Kelley ChairmanOutrigger Enterprises Group

Tom Klein PresidentSabre Holdings

Gerald Lawless Executive ChairmanJumeirah Group

Jabu Mabuza CEOTsogo Sun Group

J W Marriott, Jr Chairman & CEOMarriott International, Inc

Alan Parker CBE Chie ExecutiveWhitbread PLC

Christopher J Nassetta

President & CEOHilton Worldwide

Charles Petruccelli President Global Travel ServicesAmerican Express Company

Christopher Rodrigues CBE ChairmanVisitBritain

Je rey C Rutledge Chairman & CEOTravel Guard Worldwide, Inc

Arne M Sorenson President & COOMarriott International, Inc

Jyotsna Suri Chairperson & Managing DirectorBharat Hotels Ltd

GLOBAL MEMBERS:

Talal Al Bahar Chairman & Managing DirectorIFA Hotels & Resorts

Mohammed Al Habbai CEODubailand

Ted J Balestreri Chairman & CEOCannery Row Company

Simn P BarcelCEOBarcel Corporatin Empresarial

Raymond Bickson Managing DirectorTaj Hotels, Resorts and Palaces

Rattawadee Bualer t Presidentlebua Hotels & Resorts Co, Ltd

Gabriele Burgio Chairman & CEONH Hoteles

Chris J Cahill

COOFairmont Ra es HotelsInternational

Alexandre Chemla PresidentAltour

Feng Chen Chairman o the BoardHNA Group

Rong Chen CEOCITS, Head Ofce

Jim Compton Executive Vice President &Chie Revenue OfcerUnited Airlines

Pier Luigi Foschi Chairman & CEOCosta Cruises

Arthur de Haast Global Chie Executive OfcerJones Lang LaSalle Hotels

Andy Harrison Chie ExecutiveWhitbread Plc

Raimund Hosch President & CEOMesse Berlin GmbH

Stephen P. Joyce President & CEOChoice Hotels International

Miltos Kambourides Managing PartnerDolphin Capital Partners

Dara Khosrowshahi President & CEOExpedia Inc

Sir Nigel Knowles Co-CEO

DLA Piper

RK Krishna Kumar Vice ChairmanTaj Hotels, Resorts & Palaces

Hans Lerch Vice Chairman & CEOHotelplan Holding Ltd

Yi Liu PresidentBeijing Tourism Group

Luis Maroto CEOAmadeus IT Group SA

Richard Mortimore Managing DirectorReed Travel Exhibitions

Jim Murren CEOMGM Resorts International

Jerry Noonan Co-leader, Global Hospitality& Leisure PracticeSpencer Stuart

Deepak Ohri Chie Executive Ofcerlebua Hotels & Resorts Co, Ltd

Frits D van Paasschen

President & CEOStarwood Hotels & ResortsWorldwide, Inc

Andy Payne CEOWilderness Sa aris

Jean Gabriel Prs President & CEOMvenpick Hotels & Resorts

Fernando Pinto CEOTAP Portugal

Alexander Pleshakov CEOTransaero

Anne Pruvot Senior ExecutiveAccenture

David Radcli e Chie ExecutiveHogg Robinson Group

Marty Sal en General ManagerGlobal Travel &Transportation IndustryIBM

Per Setterberg CEOGlobal Blue Group

Jasminder Singh Chairman & CEORadisson Edwardian Hotels

Je Smisek President & CEOUnited Airlines

Khalid A bin Sulayem Director GeneralDepartment o Tourism andCommerce Marketing

Hiromi Tagawa President & CEOJTB Corp

Yassin K Talhouni CEOZara Investment Holding Co Ltd

Jaume Tpies PresidentRelais & Chteaux

Robin Tauck PresidentR Tauck & Partners

Jose Antonio Tazn Chairman o the Board

Amadeus IT Group SA

Jonathan M Tisch Chairman & CEOLoews Hotels

Matthew D Upchurch CEOVirtuoso

Philip Wol President & CEOPhoCusWright, Inc

Jiwei Xu Huangshan Tourism GroupChairman

Vladimir Yakushev Managing PartnerS-Group Capital Management

Tim Zagat Co-Founder, Co-Chair & CEOZagat Survey LLC

HONORARY MEMBERS:

Andr Jordan ChairmanAndr Jordan Group

Jonathan S Linen Adviser to the ChairmanAmerican Express Company

Lord Marshall o Knightsbridge ChairmanNomura International plc

Sir Frank Moore, AO ChairmanFT Moore P/L

Frank Olson Retired Chairman o the BoardThe Hertz Corporation

Grard Plisson Co-Chairman, Supervisory BoardAccor

Carl Ruderman ChairmanUniversal Media

Tommaso Zanzotto PresidentTZ Associates Ltd

CHAIRMAN EMERITUS:

James D Robinson III General PartnerRRE VenturesWTTC Chairman (1990-1994)

IMMEDIATE PASTCHAIRMAN:

Vincent A Wolfngton ChairmanGlobal Alliance Advisors LLCWTTC Chairman (2004-2007)

FORMER CHAIRMEN:

Sir Ian Prosser Retired ChairmanInterContinental HotelsGroup PLCWTTC Chairman (2001-2003)

Harvey Golub Non-Executive ChairmanAIG IncWTTC Chairman (1996-2001)

Robert H Burns ChairmanRobert H Burns HoldingsLimited WTTC Chairman (1994-1996)

PRESIDENT & CEO:

David Scowsill

14 February 2011


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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

D h b T & T 4

T & T b GDp 5

T & T b y 6

7

D f T & T 8

y k 0 (Absolute Contribution) 9

y k 0 (Relative Contribution) 0

y k 0 - 0 (10-year Real Growth per annum)

s y T b (Estimates and Forecasts)

s y T b (Economic Contribution of Travel & Tourism) - 4

G y 5

TH p T F T & T s

s F T s TH s D, p D D s s K W DG D

1-2 Queen ictoria Terrace, sovereign ourt, ondon 1W 3H , KTel: +44 (0) 0 748 8007. Fax: +44 (0) 0 7488 008. mail: q @w . . www.w .2


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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

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

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;

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1 All values are in constant 2011 prices & exchange rates

The direct contribution of Travel & Tourism to GDP is expected to grow by 7.7% per annum (pa) toRON20.3bn (2.4% of GDP) by 2021.

Constant 2011 RONbn

Direct Indirect Induced

% of whole economy GDP

Direct Indirect Induced

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 RON22.5bn in 2011 (4.5% of GDP). It isforecast to rise by 6.6% pa from RON42.8bn by 2021 (5.0% of GDP).

Romania: Direct Contribution of Travel & Tourism to GDP

TRAVEL & TOURISM'S CONTRIBUTION TO GDP 1

Romania: Total Contribution of Travel & Tourism to GDP

The direct contribution of Travel & Tourism to GDP is expected to be RON9.6bn in 2011 (1.9% 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 RONbn

0.0

1.0

2.0

3.0

4.0

5.0

6.0

2011 2021

0

5

10

15

20

25

2001 2003 2005 2007 2009 2011 20210.0

0.5

1.0

1.5

2.0

2.5

2001 2003 2005 2007 2009 2011 2021

0

5

10

15

20

25

30

35

40

45

2011 2021

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'000 % of whole economy employment

% of whole economy employment

Direct Indirect Induced Direct Indirect Induced

By 2021, Travel & Tourism will account for 301,000 jobs directly, an increase of 62,000 (26.0%) over thenext ten years.

Travel & Tourism is expected to generate 239,000 jobs directly in 2011 (2.8% of total employment). This

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

TRAVEL & TOURISM'S CONTRIBUTION TOEMPLOYMENT

Romania: Direct Contribution of Travel & Tourism to Employment

Romania: 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 446,000 jobs in 2011 (5.2% of totalemployment). By 2021, Travel & Tourism is forecast to support 535,000 jobs (6.0% of total employment), anincrease of 1.8% pa over the period.

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

'000

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

2001 2003 2005 2007 2009 2011 2021

0

100

200

300

400

500

600

2011 2021

0

50

100

150

200

250

300

350

2001 2003 2005 2007 2009 2011 2021

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

2011 2021

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Constant 2011 RONbn mn Foreign visitor exports as % of total exports

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

Constant 2011 RONbn


Travel & Tourism is expected to attract capital investment of RON11.2bn, rising by 7.7% pa to RON23.5bn.

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

attract 1,266,000 international tourist (overnight visitor) arrivals in 2011, generating RON7.0bn in visitor 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 2,390,000, an increase of 6.6% pa generatingexpenditure of RON16.1bn.

VISITOR EXPORTS 1

Romania: Capital Investment in Travel & Tourism

Romania: Visitor Exports and International Tourist Arrivals

This means that Travel & Tourisms share of total national investment will rise from 7.4% in 2011 to 7.7% in2021.

INVESTMENT

0

2

4

6

8

1012

14

16

18

2001 2003 2005 2007 2009 2011 20210

0.5

1

1.5

2

2.5

3

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

2001 2003 2005 2007 2009 2011 2021

0

5

10

15

20

25

2001 2003 2005 2007 2009 2011 20210.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

2001 2003 2005 2007 2009 2011 2021

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Direct 42.7%

Indirect 39.0%

Induced 18.3%

a)b)c)


Investment: 10.1%

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 twice as large as its directcontribution.

Government collective: 3.3%

Supply chain: 25.6%

DIFFERENT COMPONENTS OF TRAVEL & TOURISM 1

Leisure travel spending (inbound and domestic) isexpected to generate 94.2% of direct Travel &Tourism GDP in 2011 compared with 5.8% for business travel spending.

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

Romania: Breakdown of Travel & Tourism's TotalContribution to GDP, 2011

Leisure travel spending is expected to totalRON17.3bn in 2011, rising to RON35.7bn in2021.

Business travel spending is expected to totalRON1.1bn in 2011, rising to RON2.6bn in2021.

Domestic travel spending is expected to generate59.1% of direct Travel & Tourism GDP in 2011compared with 40.9% for visitor exports. (ieforeign visitor spending or international tourismreceipts).

Foreign visitor spending 40.9% Domestic spending 59.1%

Leisure spending 94.2% Business spending 5.8%

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

Domestic travel spending is expected to totalRON10.1bn in 2011, rising to RON19.3bn in2021.

Visitor exports are expected to total RON7.0bnin 2011, rising to RON16.1bn in 2021.

b

a

c

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COUNTRY RANKINGS, 2011WTTC League Table Extract: Absolute Contribution

Travel & Tourism's Direct Contribution to GDP Travel & Tourism's Total Contribution to GDP2011 2011

(US$bn) (US$bn)

8 Italy 64.29 8 Italy 170.4923 Austria 15.91 World Average 47.43

World Average 15.68 22 Greece 43.9026 Greece 15.68 24 Austria 43.5544 Hungary 5.93 46 Hungary 15.4345 Croatia 5.80 47 Czech Republic 15.2650 Czech Republic 4.80 49 Croatia 13.7464 Romania 2.74 65 Bulgaria 7.02

69 Slovakia 2.05 67 Romania 6.4270 Bulgaria 2.03 73 Slovakia 5.22

100 Albania 0.94 89 Albania 3.26

2011 2011('000) ('000)

18 Italy 853.4 18 Italy 2209.7World Average 795.6 World Average 2002.3

40 Greece 332.4 40 Greece 767.949 Romania 238.8 53 Austria 522.650 Hungary 235.8 57 Czech Republic 458.956 Czech Republic 207.5 59 Romania 446.458 Austria 195.8 61 Hungary 429.465 Croatia 139.9 63 Bulgaria 423.672 Bulgaria 122.2 70 Croatia 326.395 Albania 66.7 82 Albania 233.1

101 Slovakia 57.0 100 Slovakia 137.8

Travel & Tourism Investment Visitor Exports2011 2011

(US$bn) (US$bn)

8 Italy 15.75 6 Italy 42.8420 Greece 7.41 13 Austria 21.47

World Average 3.60 22 Greece 14.7633 Austria 3.50 32 Croatia 10.5647 Czech Republic 1.84 38 Hungary 7.95

56 Croatia 1.41 40 Czech Republic 7.4160 Hungary 1.02 World Average 6.4461 Romania 0.97 52 Bulgaria 4.6572 Bulgaria 0.62 67 Albania 2.2583 Slovakia 0.45 68 Slovakia 2.24

108 Albania 0.22 73 Romania 2.00

selected are those that offer a similar tourism product and compete for tourists from the same set of origin markets.These tend to be, but are not exclusively, geographical neighbours.

The tables on pages 9-11 provide provide brief extracts from the full WTTC Country League Table Rankings,highlighting comparisons with competing destinations as well as with the world average. The competing destinations

Travel & Tourism's DirectContribution to Employment

Travel & Tourism's TotalContribution to Employment

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COUNTRY RANKINGS, 2011WTTC League Table Extract: Relative Contribution

Travel & Tourism's Direct Contribution to GDP Travel & Tourism's Total Contribution to GDP2011 2011

% share % share

18 Croatia 11.64 21 Croatia 27.5828 Albania 7.63 22 Albania 26.3146 Greece 5.64 40 Greece 15.79

World Average 5.12 47 Bulgaria 14.9060 Hungary 4.61 World Average 13.8766 Austria 4.33 65 Hungary 12.0167 Bulgaria 4.31 67 Austria 11.8491 Italy 3.24 90 Italy 8.59

116 Czech Republic 2.51 101 Czech Republic 7.97120 Slovakia 2.40 129 Slovakia 6.11146 Romania 1.90 160 Romania 4.46

2011 2011% share % share

19 Croatia 12.7 19 Croatia 29.624 Greece 8.0 25 Albania 23.938 Albania 6.8 32 Greece 18.443 Hungary 6.2 48 Bulgaria 13.7

World Average 5.2 World Average 13.655 Austria 4.7 54 Austria 12.765 Czech Republic 4.3 65 Hungary 11.370 Bulgaria 3.9 80 Italy 9.777 Italy 3.7 81 Czech Republic 9.5

105 Romania 2.8 127 Slovakia 5.9122 Slovakia 2.4 142 Romania 5.2

Travel & Tourism Investment Visitor ExportsContribution to Capital Investment 2011 Contribution to Exports 2011

% share % share

26 Greece 14.26 14 Albania 47.5634 Croatia 10.77 18 Croatia 44.06

World Average 8.27 43 Greece 22.7868 Romania 7.38 63 Bulgaria 14.4781 Bulgaria 6.19 81 Austria 10.47

109 Austria 4.61 98 Italy 8.08111 Albania 4.57 105 Hungary 6.94116 Czech Republic 4.34 World Average 5.75119 Hungary 4.13 123 Czech Republic 4.52121 Italy 4.08 142 Romania 3.14158 Slovakia 2.54 143 Slovakia 3.11



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COUNTRY RANKINGS, 2011 - 2021WTTC League Table Extract: 10-year Real Growth per annum

Travel & Tourism's Direct Contribution to GDP Travel & Tourism's Total Contribution to GDP2011 - 2021 2011 - 2021

(10-year real growth % pa) (10-year real growth % pa)

7 Romania 7.7 16 Romania 6.656 Albania 5.5 57 Albania 5.4

World Average 4.4 108 Croatia 4.3110 Croatia 4.4 World Average 4.1122 Greece 4.0 120 Greece 4.0123 Austria 4.0 134 Austria 3.5149 Slovakia 3.2 152 Slovakia 2.8161 Italy 2.6 167 Hungary 2.1

163 Hungary 2.5 169 Italy 2.0167 Czech Republic 2.3 174 Czech Republic 1.7170 Bulgaria 2.1 175 Bulgaria 1.6

2011 - 2021 2011 - 2021(10-year real growth % pa) (10-year real growth % pa)

62 Austria 2.9 65 Albania 2.765 Albania 2.8 World Average 2.291 Romania 2.3 94 Greece 2.1

World Average 1.9 95 Austria 2.1116 Greece 1.9 106 Romania 1.8127 Italy 1.6 142 Croatia 1.1149 Slovakia 1.0 144 Italy 1.0150 Croatia 1.0 153 Slovakia 0.4159 Hungary 0.3 167 Hungary -0.2172 Czech Republic -0.2 173 Czech Republic -0.9180 Bulgaria -3.2 180 Bulgaria -3.9

Travel & Tourism Investment Visitor Exports2011 - 2021 2011 - 2021

(10-year real growth % pa) (10-year real growth % pa)

53 Albania 5.7 7 Romania 8.758 Croatia 5.6 52 Greece 5.9

World Average 5.4 84 Albania 5.085 Slovakia 4.8 99 Croatia 4.6

116 Austria 4.1 World Average 4.3

123 Hungary 3.8 132 Austria 3.6133 Greece 3.5 140 Slovakia 3.3151 Czech Republic 2.6 153 Hungary 2.6168 Italy 1.7 156 Italy 2.5176 Bulgaria 1.0 171 Czech Republic 1.7181 Romania 0.0 173 Bulgaria 1.7



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ESTIMATES AND FORECASTS

2011RONbn 1 RONbn 1

Direct contribution to GDP 9.6 1.9 11.3 20.3 2.4 7.7

Total contribution to GDP 22.5 4.5 6.2 42.8 5.0 6.6

Direct contribution to employment 4 239 2.8 1.9 301 3.4 2.3Total contribution to employment 4 446 5.2 -0.5 535 6.0 1.8

Visitor exports 7.0 3.3 14.1 16.1 3.9 8.7

Domestic spending 9.9 2.0 4.6 19.0 2.2 6.7

Leisure spending 17.3 3.4 8.8 35.7 4.2 7.5

Business spending 1.1 0.2 3.7 2.6 0.3 9.2

Capital investment 11.2 7.4 -0.2 23.5 7.7 0.012011 constant prices & exchange rates; 22011 real growth adjusted for inflation (%); 32011-2021 annualised real growth adjusted for inflation (%); 4'000 jobs

US$bn 1 US$bn 1

Direct contribution to GDP 554.5 2.8 2.7 748.2 2.9 3.0

Total contribution to GDP 1,535.3 7.7 1.8 1,999.9 7.8 2.6

Direct contribution to employment 4 9,709 2.6 1.3 11,153 3.0 1.4Total contribution to employment 4 28,058 7.7 0.3 30,338 8.1 0.8

Visitor exports 487.2 6.0 5.9 683.1 5.0 3.4

Domestic spending 654.2 3.3 0.7 879.8 3.4 2.9

Leisure spending 914.1 4.6 2.6 1,246.0 4.8 3.1

Business spending 249.0 1.2 3.8 342.6 1.3 3.2

Capital investment 144.1 3.8 4.6 214.2 3.9 3.912011 constant prices & exchange rates; 22011 real growth adjusted for inflation (%); 32011-2021 annualised real growth adjusted for inflation (%); 4'000 jobs

WORLDWIDE US$bn 1 US$bn 1

Direct contribution to GDP 1,850 2.8 4.5 2,861 2.9 4.2

Total contribution to GDP 5,991.9 9.1 3.9 9,226.9 9.6 4.2

Direct contribution to employment 4 99,048 3.4 3.0 120,427 3.6 2.0

Total contribution to employment 4 258,592 8.8 3.2 323,826 9.7 2.3

Visitor exports 1,163 5.7 5.5 1,789 4.7 4.3

Domestic spending 2,637 4.0 3.8 4,128 4.3 4.3

Leisure spending 2,963 4.5 3.8 4,604 4.7 4.3

Business spending 899 1.4 6.1 1,402 1.5 4.3

Capital investment 651 4.5 4.6 1,124 4.6 5.412011 constant prices & exchange rates; 22011 real growth adjusted for inflation (%); 32011-2021 annualised real growth adjusted for inflation (%); 4'000 jobs

SUMMARY TABLES

Growth 3

% of total

% of total

Growth 2 Growth 3

Growth 3

2011% of total

2021

Growth 22021

ROMANIA

2021% of totalGrowth 2% of total

EUROPE

2011% of total

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ROMANIA(RONbn, nominal prices) 2005 2006 2007 2008 2009 2010 2011E 2021F

1. Visitor exports 4.2 5.1 5.5 7.1 5.4 5.9 7.0 21.5

2. Domestic expenditure 8.3 6.7 8.1 9.4 8.9 9.0 9.9 25.3

3. Internal tourism consumption 12.6 12.0 13.8 16.7 14.5 15.1 17.1 47.3

(= 1 + 2 + government individual spending)

4. Purchases by tourism providers, -6.6 -6.4 -7.4 -9.0 -7.7 -7.9 -8.7 -24.1

including imported goods (supply chain)

5. Direct contribution of Travel & Tourism to GDP

(= 3 + 4) 5.8 5.2 6.4 7.8 7.7 8.3 9.6 27.0

Other final impacts (indirect & induced)

6. Domestic supply chain 5.2 4.7 5.8 7.1 7.0 7.5 8.7 24.4

7. Capital investment 4.7 6.2 8.9 12.1 10.5 10.2 11.2 31.4

8. Government collective spending 0.7 0.8 1.0 1.2 1.2 1.1 1.1 2.1

-5.1 -6.2 -8.7 -11.6 -10.5 -10.6 -12.2 -37.6

10. Induced 2.6 2.4 3.0 3.8 3.8 3.8 4.1 9.8

(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

277.6 213.9 221.5 225.3 228.8 234.3 238.8 300.9

Other indicators

14. Expenditure on outbound travel 3.4 4.4 4.5 6.5 5.8 6.6 8.2 21.3

1,360 1,479 1,659 1,393 1,209 1,272 1,266 2,390

Historical data for concepts has been benchmarked to match reported TSA data where available.

THE ECONOMIC CONTRIBUTION OF

*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended Methodological Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Officeof the European Communities (EUROSTAT), the Organisation for Economic Co-operation and Development (OECD) and the WorldTourism Organization (UNWTO).

450.8 448.6 446.4 535.4518.7 417.8 439.1 455.9

13.9 13.2 16.4 20.3

15. International tourist (overnightvisitor) arrivals ('000)

TRAVEL & TOURISM

13. Total contribution of Travel &Tourism to employment

11. Total contribution of Travel &Tourism to GDP

9. Imported goods from indirectspending

12. Direct contribution of Travel &Tourism to employment

19.7 20.3 22.5 57.2

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ROMANIAGROWTH 1 (%) 2005 2006 2007 2008 2009 2010 2011E 2021F 2

1. Visitor exports 72.7 10.4 -4.9 10.6 -25.7 2.9 14.1 8.7

2. Domestic expenditure 21.0 -27.2 6.9 0.9 -9.1 -2.6 4.6 6.7

3. Internal tourism consumption 34.3 -14.3 1.8 4.8 -16.0 -0.7 8.1 7.5

(= 1 + 2 + government individual spending)

4. Purchases by tourism providers, 33.3 -11.3 6.8 3.3 -19.7 -2.8 6.3 7.6

including imported goods (supply chain)

5. Travel & Tourism's direct contribution to GDP

(= 3 + 4) 37.9 -18.0 7.3 6.2 -4.5 2.1 11.3 7.7

Other final impacts (indirect & induced)

6. Domestic supply chain 37.9 -18.0 7.3 6.2 -4.5 2.1 11.3 7.7

7. Capital investment -62.7 34.0 25.3 13.2 -21.3 -10.8 -0.2 0.0

8. Government collective spending 12.2 2.3 0.0 7.0 0.4 -11.5 -6.1 3.4

-60.8 7.3 14.3 8.2 -11.4 0.7 15.4 6.1

10. Induced 47.4 -14.6 9.6 7.5 -2.3 -4.0 3.3 6.0

(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts

28.3 -22.9 3.5 1.7 1.5 2.4 1.9 2.3

Other indicators

14. Expenditure on outbound travel 26.9 18.7 -9.6 24.9 -14.1 9.5 18.4 6.9

0.0 8.7 12.2 -16.0 -13.2 5.2 -0.5 6.6

-14.0

3.8

7.6

9. Imported goods from indirectspending

12. Direct contribution of Travel &Tourism to employment

9.2

-1.1 -0.5 -0.5 1.839.4 -19.4

12005-2011 real annual growth adjusted for inflation (%); 22011-2021 annualised real growth adjusted for inflation (%)

13. Total contribution of Travel &Tourism to employment 5.1

15. International tourist (overnightvisitor) arrivals

TRAVEL & TOURISMTHE ECONOMIC CONTRIBUTION OF

11. Total contribution of Travel &Tourism to GDP

-6.1 -1.9 6.2 6.645.9

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K Y D F T sTravel & Tourism h y

h w h h y . y

h w hh h.

Direct contribution to GDP GDp by h y w h ,

h , , h , w h

h y w h . q T & T

( b w) w h y h h by h ( ).

h T s h y w h GDp b 6 h

Ts : F 008.

Direct contribution to employment h b j b w h h T & T y. Th w h y b 7 h Ts : F 008.

Total contribution to GDP GDp yby h T & T y

( b w).

Total contr ibution to employment h b j b y h T & T

y h b( b w).

D T sp D G p TsVisitor exports w h h y by

b h b , . Th w h

b b h Ts :

F 008.Domestic Travel & Tourism spending w h y by h y b hb . - b

h y h y . Th w h b h Ts : F 008.

b by b h , b y h Ts :

F 008 ( b w).

Government individual spending - k wh h

b b y . Th y b

, , y b . F , k .

Internal tourism consumption w h y by h

y w h , . Th

b by . Th w h

b 4 h Ts : F 008.

Business Travel & Tourism spending b w h y by

.

Leisure Travel & Tourism spending w h y by

.

D T D D D p Ts Indirect contribution h b GDp j b h w h :

by y h T

& T y. Th by h

h w q , w

. Th w h

b 8 h Ts : F 008.

G y. Th

w . F ,

, , h b . Th

w h b 9 Ts : F 008.

s y- h f h y by f h T &

T y h .

Induced contribution h b b GDp y by h wh

y y y by T & T .

TH D T sOutbound expenditure h

y by b . Th y

w h b b h Ts : F 008.

Foreign visitor arrivals h b , - y h

( ) h y.

GLOSSARY

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Th W T & T h b h T& T y.

W h h h h h 00 T & T b ,WTT h q w T & T .

WTT w k w T & T h w , 60 j b 9% b GDp 0 .

T h w h h , , WTT h b w h wh q q y, h

T & T 8 h w . b h W

h h h b . T w - , h h , www.wttc.org

WTT y , b h k , .

h 0 y h b y b 00 w w , , , b k ,

b . H q , , w h , B , p ,h , s , ph h , w Y k s F , y 70

- , h h y q , wh k w h w w w .

F k w b , www. . , J h G , , bb y H , s , , X HB, K.

T : +44 (0) 865 68900; : j @ .

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WTTC CONTACTS

David Scowsillp &

/ . @w .

Elliott Frisby D ,

. by@w .

Jason Norman D , F & y s y

j . @w .

Olivia Ruggles-Brise D , p y & h

. b @w .

Tony Thompson D ,

y. h @w .

Eva Aimable , p y & h

. b @w .

Sarieu Caramba-Coker . b - k @w .

Anja Eckervogt

j . k @w .

Susann Kruegel , p y

.k @w .

Pamela Priest

. @w .Paulina Tomczyk

b h - . zyk@w .

Zheng Yan h

zh .y @w .

Nancy Cockerell, p y & h

y. k @w .

WTTC India Initiative @w .

2011 World Travel & Tourism Council


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1-2 Queen ictoria Terrace

sovereign ourtondon 1W 3H , K

Tel: +44 (0) 0 748 8007Fax: +44 (0) 0 7488 008

mail: q @w .

wttc romania 2011

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