Published on : Sunday, June 9, 2019
For the seventh year consecutively, tourism exports grew faster than merchandise exports (+3%), displaying solid demand for international travel in a generally robust economic environment.
Strong growth in outbound travel from many source markets globally fuelled revenues from international tourism to reach a total USD 1.7 trillion. This accounts for 29% of global service exports and 7% of overall exports of goods and services.
These figures place international tourism among the top five economic sectors in the world, after chemical manufacturing and the fuel industry but ahead of the food and automotive industries.
“Rather than growing in volume, we need to grow in value. We are pleased to see that both emerging and advanced economies around the world are benefiting from rising tourism income,” said Zurab Pololikashvili, the UNWTO secretary-general.
“Revenues from international tourism translate into jobs, entrepreneurship and a better situation for people and local economies while reducing trade deficits in many countries” he added.