• Tourism contributes more to the European GDP

    Ramesh Tiwari
    October 13, 2015
    Tourism contributes more to the European GDP

    London – Travel and Tourism in Europe generates more income than automotive manufacturing, chemicals manufacturing, banking, agriculture, and the mining sector, according to research from the World Travel & Tourism Council (WTTC).

    David Scowsill, President & CEO, WTTC, said:“This research demonstrates the huge importance of Travel & Tourism as an economic generator in Europe. Not only does the sector account for 9.2% of GDP, but it also supports 1 in 11 jobs in Europe. With the growth of the European economy, it is critical that governments and private companies step up together to ensure that the sector is able to build the infrastructure capacity to meet the future forecast volume of people.”

    He added: “Travel & Tourism is the second-fastest growing sector in Europe in terms of direct GDP after banking. Forecast to grow at 2.8% per annum over the next ten years, the sector’s growth will outpace the global economy, which is estimated to increase by 1.9% per annum over the next decade.” 

    Travel & Tourism’s contribution to Europe’s GDP, including its indirect and induced impacts, accounted for 9.2% of the continent’s GDP, making it the fourth largest sector of the eight studied in WTTC’s

    The Benchmarking Report 2015 compares Travel & Tourism to eight other sectors, which are considered to have similar breadth and global presence, across 26 countries.

    With €1.8 trillion ($US 2.1 trillion) in total contribution in 2014, Europe’s Travel & Tourism sector generates:

    1.2 times more than automotive manufacturing ($US1.7 trillion)

    1.4 times more than chemicals manufacturing ($US1.5 trillion)

    1.8 times more than banking ($US1.2 trillion)

    2.6 times more than mining ($US796 million)

    The research shows that the sector also sustained 9% of total employment in Europe in 2014, exceeding that of the financial services, banking, automotive manufacturing, chemicals manufacturing, and mining sectors.- WTTC


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      What they say

      Tourism is a people’s sector. One in 10 people in the world are directly or indirectly employed by tourism. Ours is the responsibility to ensure that tourism benefits each and every community, leaving no one behind.
      Tourism’s sustained growth brings immense opportunities for economic welfare and development. Yet, it also brings in many challenges. Adapting our sector to the challenges of safety and security, to constant market changes, to digitalization and the limits of our natural resources should be priorities in our common action.
      As we move towards a future guided by the universal 17 Sustainable Development Goals (SDGs), I take upon me to lead UNWTO with a strong focus on building partnerships with public and private sector, fostering jobs and opportunities for all, mastering technology and innovation and advancing sustainability and the fight against climate change.
      I trust that, together with our Member States and our partners from around the world, we can build a more competitive and responsible tourism sector for the benefit of all. I wish you a very happy 2018.
      Zurab Pololikashvili
      UNWTO Secretary-General

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      *Ferien-Messe Wien Int’l Tourism Fair Vienna Vienna, Austria, Jan 11-14

      * CMT / CMT – Die Urlaubsmesse Holiday, Caravanning, Motoring and Tourism , Stuttgart, Germany Jan. 13-21

      *FITUR – Int’l Tourism Trade Fair , Madrid, Spain Jan. 17-21

      *GO Int’l Travel Trade Fair                                          Brno, Czech Republic, Jan. 18-21

      *OTM Outbound Travel Mart ,Mumbai, India, Jan. 18-20

      *Adventure Travel Show , London  20-21 January

      *ASEAN Tourism Forum ( ATF) , Chiang Mai , Thailnd January 22-26

      *EMITT-  East Mediterranean Int’l Tourism and Travel Exhibition ,Istanbul, Turkey, Jan. 25-28

      *SATTE Travel Mart , New Delhi , India            Jan. 31- Feb. 2

      *IMTM – Int’l Mediterranean Tourism Market   Tel Aviv, Israel  , Feb. 6-7

      *India Travel Mart ITM , Ahmedabad, India          Feb. 9-11

      *Travel and Tourism Fair ( TTF) , Chennai , India Feb. 16-18

      *PATA ATRT Conference and Mart , Abu Dhabi , UAE , Feb 21-23

      *Travel and Tourism Fair(TTF) , Bengaluru, India ,Feb. 23-25

      *World Spa and Wellness 2018 , London , UK Feb. 25-26

      *Guangzhou International Travel Fair Guangzhou , China  March 1-3

      *ITB Berlin Berlin , Germany March 7-11

      *Moscow Int. Tourism and Travel Exhibition ( MITT) ,Moscow , Russia March 13-15

      *IT& CM China 2018 , Shanghai , China          March 20 – 22

      *GBTA Conference Mexico City, March 21-23

      *UNWTO World Conference on Snow and Mt. Tourism ,Andorra , March 21-23

      *Arabian Travel Mart –ATM   Dubai , 22-25 April

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