Travel &Tourism industry continues to grow more quickly than global economy

Published on : Thursday, July 16, 2015

globeThe results of Travel & Tourism Competitiveness Index 2015 reveal four key findings.



First, the Travel &Tourism industry continues to grow more quickly than the global economy as a whole. As proof of its resilience, the analysis shows that the sector’s growth—whether in terms of global air passenger traffic, occupancy rates or international arrivals—tends to return to trend quickly after a shock.



Second, countries performing more strongly on the TTCI are those that are better prepared to capture the opportunities of new trends: growing demand from emerging and developing countries; the differing preferences of travellers from aging populations and a new generation of younger travellers; and the growing importance of online services and marketing, especially through mobile internet.



Third, developing the Travel &Tourism sector provides growth opportunities and social benefits for all countries, regardless of their wealth. Several developing and emerging economies are ranked among the 50 most T&T competitive economies. A strong T&T sector translates into job opportunities at all skill levels.



Fourth, the development of the Travel &Tourism industry is complex, requiring inter-ministerial coordination and often international and public-private partnerships to overcome financial, institutional and organizational bottlenecks.


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