KEY FACTS AT A GLANCE
GDP: Direct Contribution
The direct contribution of Travel &Tourism to GDP is expected to be USD121.1bn (3.3% of total GDP) in 2011, rising by 4.7% pa to USD192.0bn (3.6%) in 2021 (in constant 2011 prices).
GDP: Total Contribution
The total contribution of Travel &Tourism to GDP, including its wider economic impacts, is forecast to rise by 4.5% pa from USD329.6bn (9.0% of GDP) in 2011 to USD512.4bn (9.6%) by 2021.
Employment: Direct Contribution
Travel & Tourism is expected to support directly 5,829,000 jobs (3.0% of total employment) in 2011, rising by 2.7% pa to 7,618,000 jobs (3.3%) by 2021.
Employment: Total Contribution
The total contribution of Travel & Tourism to employment, including jobs indirectly supported by the industry, is forecast to rise by 2.3% pa from 15,952,000 jobs (8.1% of total employment) in 2011 to 20,103,000 jobs (8.7%) by 2021.
Travel & Tourism visitor exports are expected to generate USD33.5bn (4.9% of total exports) in 2011, growing by 9.1% pa (in nominal terms) to USD70.8bn (5.6%) in 2021.
Travel & Tourism investment is estimated at USD46.3bn or 6.0% of total investment in 2011. It should rise by 6.0% pa to reach USD83.4bn (or 6.6%) of total investment in 2021.
World ranking (out of 12 regions):
Relative importance of Travel & Tourism’s total contribution to GDP
• 4 ABSOLUTE size
• 5 RELATIVE contribution to national economy
• 7 GROWTH forecast
Latin America includes Argentina, Belize, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Guyana, Honduras, Nicaragua, Panama, Paraguay, Peru, Suriname, Uruguay, Venezuela
Download the Travel & Tourism report on Latin America here
The World Travel & Tourism Council (WTTC) is the forum for business leaders in the Travel & Tourism industry. With Chief Executives of some one hundred of the world’s leading Travel & Tourism companies as its Members, WTTC has a unique mandate and overview on all matters related to Travel & Tourism.
WTTC works to raise awareness of Travel & Tourism as one of the world’s largest industries, supporting more than 258 million jobs and generating 9.1 per cent of world GDP.
This article is uploaded by Majbritt Thomsen, administrator on ‘Views On Tourism’.