Travel & Tourism Industry update

Travel & Tourism growth in 2008 slowed down to just 1% and is likely to contract further by 3.3% in 2009 only to expand by 0.3% in 2010. However looking beyond the current crisis, Travel & Tourism is expected to resume its leading, dynamic role in global growth.


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World travel & tourism is expected to contribute nearly US$5,474 billion to global GDP in 2009, rising to approximately US$10,478 billion over the next ten years, according to the latest tourism satellite accounting (TSA) research from the World Travel & Tourism Council (WTTC).

In terms of regional performance, Africa, Asia Pacific and the Middle East are experiencing higher growth rates than the world average, in terms of total Travel & Tourism Demand while the matured markets – most notably the Americas and Europe – are falling below the world average.

source| Indian Hotels Annual Report