Published on : Sunday, May 8, 2016
Rising rapidly against all odds, international tourism once again proved to be the fastest growing industry. According to United Nations World Tourism Organisation (UNWTO) latest report, the total export value of international tourism hit a whopping 1.4 trillion US dollars in 2015.
The UNWTO report establishes that 1.2 billion tourists travelled in 2015 which is a 4.4 rise as compared to 2014.
The international tourism receipts also increased by 3.6 percent during 2015 with 1,232 billion dollars being spent by international tourists on accommodation, food, shopping, entertainment, and other services.
The UNWTO estimates that tourism also generated 210 billion dollars in exports through “international non-resident passenger transport services.”
Tourism also accounted for 7 percent of the world’s exports and 30 percent of service exports.
UNWTO highlights “tourism ranks third as a world export category after fuels and chemicals and ahead of food and automotive products,” while, “in many developing countries, tourism ranks as the first export sector.”
UNWTO Secretary-General Taleb Rifai said the data “proved the sector’s relevance in stimulating economic growth, boosting exports and creating jobs for an increasing number of economies worldwide.”