Tourism is a great
contribution to the world economy. Large emerging economies,
including developed ones, depend largely on the tourism

Countries such as the US, France, and Spain fight over
leadership in this sector with the aim of positioning themselves as
the world’s first tourist power, which to say the least, is a
very profitable objective. The tourism industry not only
generates revenues for a country and cultural wealth, but it is
also one of the most important economic engines for growth and

Globalization, as well as diplomatic relations among countries,
has made travelling increasingly common. That is, the percentage of
the world population that requires an entry visa to visit foreign
destinations decreased from 75%, in 1980, to 53%, in 2018. The
result is that more and more people travel from one country to the
other on a recurring basis, which has increased the frequency of
leisure travel from 50 to 56%, according to a report of the World
Tourism Organization (UNWTO).

Tourism is a great source of income and employment for countries
that receive more tourists, which has had a significant impact on
the main economies of the world.

For this reason, many countries have increased their investment
in the tourism industry, including several campaigns and strategies
to highlight the attractiveness of their main destinations. This
current state of tourism has benefited all continents of the world,
growing in the number of arrivals year after year. Tourism, in
short, has become a fundamental pillar for the economic growth of
all countries, accounting for a good portion of the world’s GDP.
Despite the time, the tourism industry has not lost that dynamism
that allowed it to grow exponentially over the years.

According to the latest data published by the World Travel and
Tourism Council (WTTC), the tourism industry accounts for
10.4% of the world’s GPD, making it one of the largest economic
sectors worldwide.
 With 8.8 trillion US dollars, tourism
establishes itself as one of the fastest-growing industries of the
world, being surpassed only by the manufacturing sector. Even so,
it is far ahead of other important sectors such as financial
services, health or technology.

Despite the major crises that have shaken the economy, tourism
is an industry that has always been seen as ‘a safe bet’. What
this means is that, while other sectors contracted before the
growing uncertainties or shocks that damaged the economy, tourism
has been able to grow continuously without setbacks, a positive
trend that has defined it as the industry that grows the most in
relation to the average recorded by the other sectors that make up
the global economic activity.

Tourism is becoming one of the most profitable growth engines
for the global economy, so leadership in the sector is being
disputed among the major countries, which struggle every year to
attract more and more tourists to their territories. According to
the UNWTO “International Tourism Highlights” report, tourism
generates more than 5 billion US dollars a day. In turn, total
revenues from international tourism worldwide, including passenger
transport, were 1.7 trillion US dollars in 2018, with over 1.4
billion international arrivals registered across the globe.

As expected, economic growth is made up of many factors that,
when analyzed separately, make the tourism industry more
attractive. According to the WTTC report, as of 2018 (the 2019
report has not been published yet), tourism employs 319 million
people, and it is expected that this figure will reach 421 million
by 2029. This means that tourism is not only a growing economic
engine but also an employment engine in itself, since it is the
industry with the best evolution in terms of job creation, just
behind the manufacturing sector.

In the world, 20% of the jobs that have been generated over the
past 5 years have been directly related to tourism. This has caused
that, in addition, 10% of the workers in the world are employed in
the tourism sector. It is, in fact, a source of employment that not
only generates and employs a large workforce but also does it in an
inclusive manner and with great opportunities for both genders,
even creating job offers for the youngest. According to data from
the “International Perspectives on Women and Work in Hotels,
Catering and Tourism” report carried out by Cornell University,
worldwide and on average, 55.5% of employees in the tourist
industry are women.

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Source: FS – All-Travel destinations-News2