WTTC predicts strong 2008

Despite the current financial hard times for many industries around the world, the World Travel & Tourism Council reported recently that while other industries buckle down for a crunch, the travel industry is experiencing a higher growth rate than expected.

Recent studies by the WTTC and Oxford Economics have shown that after a strong 2007, 2008 is already 6 percent up compared to the same period last year. This means an average of 900 million tourist arrivals worldwide, and marks the fourth consecutive year the industry’s performance has exceeded the UNWTOs average of 4 percent growth per year.

Jean-Claude Baumgarten, president of the WTTC says, “Tourism growth has been particularly rapid in developing countries with the fastest average growth in tourism arrivals in the Middle East region. These countries are not only recognising the development potential of Travel & Tourism and therefore investing heavily in new infrastructure and facilities but their citizens are also seeing rapid economic growth boost their incomes beyond the level where international travel becomes both a feasible and desired option.”