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The stagnation of the tourism will end with growth

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Travel Articles >> Economics

This year the world tourism industry will earn approximately 5 billion euro. The last information of the World Tourism and Travel Council (WTTC) says that the world touristic sector will suffer stagnation in 2008, though the prognoses for the next 10 years remain positive. Anyways, the tourism will bring to the branch about 8 billion dollars (5 billion euro) and during the next five years the amount of the international tourists will be slowly but constantly growing.

Talking about the future perspectives, the Council supposes that between 2009 and 2018 the world touristic industry will reach the 15 billion indicator level - 9 billion euro. The growth of the 2008 will make about 3%, what is slightly less as in the last year (3,9%). So, a slight stagnation of the development will take place. The tourism specialists affirm that there will be no economical crisis and in the period from 2009 till 2018 the annual growth will make 4,4%.

The WTTC President - Jean Claude Bauharten said the the nearest future problems can be caused by the instable dollar currency exchange rate, the fuel costs growth and the exultation about the climate change. In spite of all these not really optimistic facts, the Council is sure that due to the newly forming markets and the developing economies, the perspectives of the touristic industry are more than inspiring. The role of the new directions will be of more importance and the temps of the touristic industry growth in the developing countries will be twice higher that the analogical indicators of the states with high income levels.

According to the analysis from the last year, the African, Asian and Eastern zones are growing faster that the whole rest of the world - 5,9%, 5,7% and 5,2% respectively, when the traditional world markets have experienced only the 2,3% growth. According to the president of the British analytic service "Oxford Economics", John Walker, the global effect of the stagnating world touristic markets will be also in the future compensated by the emerging economy countries - China and India - that gain popularity very quickly. Their extremely quick development will arise also the touristic demand.

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Article Submitted On: March 13, 2008