Professional Documents
Culture Documents
The right policy and investment decisions are only made with empirical evidence. For over 25
years, the World Travel & Tourism Council (WTTC) has been providing this evidence, quantifying
the economic and employment impact of Travel & Tourism. This year, the 2017 Annual
Economic Reports cover 185 countries and 26 regions of the world, providing the necessary
data on 2016 performance as well as unique 10-year forecasts on the sectors potential.
Despite the ever-increasing and unpredictable shocks from terrorist attacks and political
instability, to health pandemics and natural disasters, Travel & Tourism continued to show
its resilience in 2016, contributing direct GDP growth of 3.1% and supporting 6 million net
additional jobs in the sector. In total, Travel & Tourism generated US$7.6 trillion (10.2% of global
GDP) and 292 million jobs in 2016, equivalent to 1 in 10 jobs in the global economy. The sector
accounted for 6.6% of total global exports and almost 30% of total global service exports.
For the sixth successive year, growth in Travel & Tourism outpaced that of the global economy
(2.5%). Additionally in 2016, direct Travel & Tourism GDP growth not only outperformed the
economy-wide growth recorded in 116 of the 185 countries covered by the annual economic
impact research (including in major Travel & Tourism economies such as Australia, Canada,
China, India, Mexico and South Africa), but it also was stronger than the growth recorded in
the financial and business services, manufacturing, public services, retail and distribution, and
transport sectors.
The outlook for the Travel & Tourism sector in 2017 remains robust and will continue to be
at the forefront of wealth and employment creation in the global economy, despite the
emergence of a number of challenging headwinds. Direct Travel & Tourism GDP growth is
expected to accelerate to 3.8%, up from 3.1% in 2016. As nations seem to be looking increasingly
inward, putting in place barriers to trade and movement of people, the role of Travel & Tourism
becomes even more significant, as an engine of economic development and as a vehicle for
sharing cultures, creating peace, and building mutual understanding.
Over the longer term, growth of the Travel & Tourism sector will continue to be strong so long
as the investment and development takes place in an open and sustainable manner. Enacting
pro-growth travel policies that share benefits more equitably can foster a talent and business
environment necessary to enable Travel & Tourism to realise its potential. In doing so, not only
can we expect the sector to support over 380 million jobs by 2027, but it will continue to grow
its economic contribution, providing the rationale for the further protection of nature, habitats,
and biodiversity.
WTTC is proud to continue to provide the evidence base required in order to help both public
and private bodies make the right decisions for the future growth of a sustainable Travel &
Tourism sector.
David Scowsill
President & CEO
FOREWORD
GLOSSARY 15
METHODOLOGICAL NOTE 16
VISITOR EXPORTS
Visitor exports generated BBD2,425.9mn (USD1,213.0mn), 62.1% of total exports in 2016. This is
forecast to fall by 3.1% in 2017, and grow by 4.3% pa, from 2017-2027, to BBD3,565.0mn (USD1,782.5mn) in
2027, 63.8% of total.
INVESTMENT
Travel & Tourism investment in 2016 was BBD268.5mn, 23.3% of total investment (USD134.2mn). It should rise
by 2.1% in 2017, and rise by 5.4% pa over the next ten years to BBD464.5mn (USD232.3mn) in 2027, 32.5% of
total.
1
All values are in constant 2016 prices & exchange rates
3,000 1,159
EMPLOYMENT
2,000
17 ('000)
25
1,000 DIRECT
8
0 + INDIRECT
2010
2014
2015
2007
2011
2012
2013
2008
2009
2016
2017
2027
2027
+ INDUCED
DIRECT INDIRECT INDUCED
= TOTAL CONTRIBUTION OF TRAVEL & TOURISM
DIRECT
Travel & Tourism contribution
COMMODITIES
Accommodation
Transportation
Entertainment
Attractions
INDIRECT INDUCED TOTAL
INDUSTRIES Travel & Tourism contribution Travel & Tourism
Accommodation services contribution (spending of direct and contribution
Food & beverage services indirect employees)
Retail Trade T&T investment spending
Transportation services
Cultural, sports & recreational Government collective T&T Food and beverages To GDP
services spending Recreation
Clothing To employment
SOURCES OF SPENDING Impact of purchases from Housing
Residents' domestic T&T suppliers Household goods
spending
Businesses' domestic travel
spending
Visitor exports
Individual government T&T
spending
DIRECT CONTRIBUTION
The direct contribution of Travel & Tourism to GDP reflects the internal spending on Travel & Tourism (total spending within a particular
country on Travel & Tourism by residents and non-residents for business and leisure purposes) as well as government 'individual' spending -
spending by government on Travel & Tourism services directly linked to visitors, such as cultural (eg museums) or recreational (eg national parks).
The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in National Accounting,
of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure and recreation services that deal directly with
tourists. The direct contribution of Travel & Tourism to GDP is calculated from total internal spending by netting out the purchases made
by the different tourism sectors. This measure is consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite
Account: Recommended Methodological Framework (TSA: RMF 2008).
The total contribution of Travel & Tourism includes its wider impacts (ie the indirect and induced impacts) on the economy. The indirect
contribution includes the GDP and jobs supported by:
Travel & Tourism investment spending an important aspect of both current and future activity that includes investment activity
such as the purchase of new aircraft and construction of new hotels;
Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on behalf of the
community at large eg tourism marketing and promotion, aviation, administration, security services, resort area security services, resort
area sanitation services, etc;
Domestic purchases of goods and services by the sectors dealing directly with tourists including, for example, purchases of food and
cleaning services by hotels, of fuel and catering services by airlines, and IT services by travel agents.
The induced contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly employed by the
Travel & Tourism industry.
PLEASE NOTE THAT DUE TO CHANGES IN METHODOLOGY BETWEEN 2010 AND 2011, IT IS NOT POSSIBLE TO COMPARE FIGURES PUBLISHED BY WTTC FROM 2011 ONWARDS
WITH THE SERIES PUBLISHED IN PREVIOUS YEARS.
The direct contribution of Travel & Tourism to GDP is expected to grow by 4.1% pa to BBD1,680.3mn (15.1% of GDP) by 2027.
1,600 14.0
1,400 12.0
1,200
10.0
1,000
8.0
800
6.0
600
4.0
400
200 2.0
0 0.0
2027
2009
2009
2007
2008
2007
2008
2027
2012
2013
2014
2016
2012
2014
2016
2010
2011
2015
2017
2010
2011
2015
2017
2013
2027
The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and induced income impacts, see
page 2) was BBD3,593.9mn in 2016 (39.9% of GDP) and is expected to grow by 2.5% to BBD3,503.5mn (38.2% of GDP) in 2017.
6,000 50.0
45.0
5,000
40.0
35.0
4,000
30.0
3,000 25.0
20.0
2,000
15.0
10.0
1,000
5.0
0 0.0
2016 2017 2027
2027
2027 2016 2017 2027
2027
1
All values are in constant 2016 prices & exchange rates
Travel & Tourism generated 17,000 jobs directly in 2016 (13.3% of total employment) and this is forecast to fall by 3.5% in 2017 to 16,500
(12.8% of total employment). This includes employment by hotels, travel agents, airlines and other passenger transportation services
(excluding commuter services). It also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists.
By 2027, Travel & Tourism will account for 21,000 jobs directly, an increase of 2.4% pa over the next ten years.
16.0
20.0 14.0
12.0
15.0
10.0
8.0
10.0
6.0
4.0
5.0
2.0
0.0 0.0
2009
2007
2008
2027
2012
2014
2016
2010
2011
2015
2017
2013
2007
2008
2009
2010
2011
2015
2017
2027
2012
2013
2014
2016
2027
2027
The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply chain and induced
income impacts, see page 2) was 51,000 jobs in 2016 (39.8% of total employment). This is forecast to fall by 3.3% in 2017 to 49,000 jobs (38.1%
of total employment).
By 2027, Travel & Tourism is forecast to support 60,000 jobs (47.0% of total employment), an increase of 2.1% pa over the period.
40.0 30.0
25.0
30.0
20.0
20.0 15.0
10.0
10.0
5.0
0.0 0.0
2016 2017 2027
2027 2016 2017 2027
2027
Direct Indirect Induced Direct Indirect Induced
VISITOR EXPORTS
Visitor exports are a key component of the direct contribution of Travel & Tourism. In 2016, Barbados generated
BBD2,425.9mn in visitor exports. In 2017, this is expected to fall by 3.1%, and the country is expected to attract 630,000 international tourist
arrivals.
By 2027, international tourist arrivals are forecast to total 1,009,000, generating expenditure of BBD3,565.0mn, an increase of 4.3% pa.
3,500 60.0
1
3,000
0.8 50.0
2,500
1,500 30.0
0.4
1,000
0.2 20.0
500
0 0 10.0
2007
2008
2009
2015
2017
2027
2012
2013
2014
2016
2010
2011
2027
0.0
2009
2007
2008
2027
2012
2014
2016
2010
2011
2015
2017
2013
2027
FOREIGN VISITOR EXPORTS (LHS)
FOREIGN TOURIST ARRIVALS (RHS)
INVESTMENT
Travel & Tourism is expected to have attracted capital investment of BBD268.5mn in 2016. This is expected to rise by 2.1% in 2017, and rise by
5.4% pa over the next ten years to BBD464.5mn in 2027.
Travel & Tourisms share of total national investment will rise from 23.3% in 2017 to 32.5% in 2027.
450 30.0
400
25.0
350
300 20.0
250
15.0
200
150 10.0
100
5.0
50
0 0.0
2009
2007
2008
2027
2014
2016
2010
2011
2015
2017
2012
2013
2007
2008
2009
2010
2011
2015
2017
2027
2012
2013
2014
2016
2027
2027
1
All values are in constant 2016 prices & exchange rates
BARBADOS
TRAVEL & TOURISM'S CONTRIBUTION TO GDP:
DOMESTIC VS FOREIGN, 2016 Domestic travel spending generated 10.0% of direct
Travel & Tourism GDP in 2016 compared with 90.0%
Foreign visitor
for visitor exports (ie foreign visitor spending or
spending
international tourism receipts).
90.0%
Domestic
Domestic travel spending is expected to grow by
spending
2.4% in 2017 to BBD275.3mn, and rise by 1.7% pa to
10.0% BBD327.3mn in 2027.
BARBADOS
BREAKDOWN OF TRAVEL & TOURISM'S
TOTAL CONTRIBUTION TO GDP, 2016 The Travel & Tourism industry contributes to GDP
Direct and employment in many ways as detailed on page 2.
32.3%
Induced
16.5%
The total contribution of Travel & Tourism to GDP
Indirect is three times greater than its direct contribution.
51.3%
Indirect is the
sum of: a
(a) Supply chain
38.9%
(b) Investment c
7.2% b
(c) Government
collective
5.2%
1
All values are in constant 2016 prices & exchange rates
TRAVEL & TOURISM'S DIRECT 2016 TRAVEL & TOURISM'S TOTAL 2016
CONTRIBUTION TO GDP (US$bn) CONTRIBUTION TO GDP (US$bn)
World Average 19.1 World Average 57.3
82 Bahamas 1.8 90 Bahamas 4.0
113 Trinidad and Tobago 0.9 Caribbean Average 2.5
116 Aruba 0.8 110 Aruba 2.4
Caribbean Average 0.8 113 Trinidad and Tobago 2.3
126 Barbados 0.6 121 Barbados 1.8
141 Martinique 0.3 133 Martinique 1.3
146 Bermuda 0.3 147 Bermuda 0.8
151 Antigua and Barbuda 0.2 148 Antigua and Barbuda 0.8
153 St Lucia 0.2 153 St Lucia 0.6
175 St Kitts and Nevis 0.06 167 St Kitts and Nevis 0.2
177 Grenada 0.06 173 Grenada 0.2
TRAVEL & TOURISM'S DIRECT 2016 TRAVEL & TOURISM'S TOTAL 2016
CONTRIBUTION TO EMPLOYMENT '000 jobs CONTRIBUTION TO EMPLOYMENT '000 jobs
World Average 843.9 World Average 2152.9
116 Bahamas 53.0 127 Bahamas 102.6
Caribbean Average 31.5 Caribbean Average 100.8
134 Trinidad and Tobago 28.4 140 Trinidad and Tobago 68.9
149 St Lucia 17.6 147 Barbados 50.8
150 Barbados 17.0 153 Aruba 42.5
153 Aruba 14.9 155 St Lucia 36.0
168 Antigua and Barbuda 6.1 164 Antigua and Barbuda 19.7
172 Martinique 5.0 167 Martinique 18.2
178 Bermuda 2.7 177 Grenada 9.0
179 Grenada 2.6 181 St Kitts and Nevis 6.1
185 St Kitts and Nevis 1.5 182 Bermuda 5.7
2016 2016
TRAVEL & TOURISM INVESTMENT (US$bn) VISITOR EXPORTS (US$bn)
World Average 4.4 World Average 7.6
89 Bahamas 0.4 71 Bahamas 2.5
90 Trinidad and Tobago 0.4 90 Aruba 1.7
Caribbean Average 0.3 Caribbean Average 1.4
122 Aruba 0.2 98 Barbados 1.2
138 Barbados 0.1 108 Trinidad and Tobago 0.9
139 Antigua and Barbuda 0.1 129 Martinique 0.5
149 Martinique 0.1 133 Antigua and Barbuda 0.4
153 St Lucia 0.07 134 Bermuda 0.4
157 St Kitts and Nevis 0.06 140 St Lucia 0.4
167 Bermuda 0.03 160 St Kitts and Nevis 0.1
171 Grenada 0.02 162 Grenada 0.1
The tables on pages 7-10 provide provide brief extracts from the full WTTC Country League Table Rankings, highlighting comparisons with
competing destinations as well as with the world and regional average. Averages in above tables are simple cross-country averages.
The competing destinations selected are those that offer a similar tourism product and compete for tourists from the same set of origin markets.
These tend to be, but are not exclusively, geographical neighbours.
TRAVEL & TOURISM'S DIRECT 2016 TRAVEL & TOURISM'S TOTAL 2016
CONTRIBUTION TO GDP % share CONTRIBUTION TO GDP % share
3 Aruba 28.6 2 Aruba 88.1
7 Bahamas 19.8 5 Antigua and Barbuda 60.4
11 Antigua and Barbuda 16.1 9 Bahamas 44.8
16 St Lucia 13.7 13 Barbados 39.9
18 Barbados 12.9 14 St Lucia 39.6
44 St Kitts and Nevis 5.9 28 St Kitts and Nevis 25.1
45 Grenada 5.8 36 Grenada 20.2
Caribbean 4.7 Caribbean 14.9
68 Bermuda 4.5 57 Bermuda 13.9
102 Martinique 3.3 61 Martinique 13.4
World 3.1 World 10.2
118 Trinidad and Tobago 2.9 119 Trinidad and Tobago 7.9
TRAVEL & TOURISM'S DIRECT 2016 TRAVEL & TOURISM'S TOTAL 2016
CONTRIBUTION TO EMPLOYMENT % share CONTRIBUTION TO EMPLOYMENT % share
1 Aruba 31.3 1 Aruba 89.3
3 Bahamas 27.3 5 Antigua and Barbuda 54.3
6 St Lucia 22.7 6 Bahamas 52.9
10 Antigua and Barbuda 16.7 8 St Lucia 46.5
16 Barbados 13.3 12 Barbados 39.8
29 Bermuda 8.1 26 St Kitts and Nevis 23.9
50 St Kitts and Nevis 5.8 40 Grenada 18.5
57 Grenada 5.3 43 Bermuda 17.3
73 Trinidad and Tobago 4.4 56 Martinique 13.8
Caribbean 4.2 Caribbean 13.4
86 Martinique 3.8 80 Trinidad and Tobago 10.6
World 3.6 World 9.6
TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO GDP % growth CONTRIBUTION TO GDP % growth
10 Grenada 8.8 13 Grenada 7.7
32 Martinique 7.4 56 Martinique 5.4
60 St Kitts and Nevis 5.9 69 St Lucia 5.1
61 St Lucia 5.8 90 St Kitts and Nevis 4.4
111 Aruba 4.1 95 Trinidad and Tobago 4.4
Caribbean 4.0 114 Aruba 3.8
World 3.8 Caribbean 3.7
118 Trinidad and Tobago 3.8 121 Antigua and Barbuda 3.6
123 Antigua and Barbuda 3.7 World 3.6
129 Bahamas 3.4 130 Bermuda 3.2
132 Bermuda 3.3 135 Bahamas 2.9
184 Barbados -2.83 183 Barbados -2.51
TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017
CONTRIBUTION TO EMPLOYMENT % growth CONTRIBUTION TO EMPLOYMENT % growth
20 Martinique 6.7 20 Grenada 5.5
21 Grenada 6.7 36 St Lucia 4.9
37 St Lucia 5.5 41 Martinique 4.7
53 Trinidad and Tobago 4.8 57 Trinidad and Tobago 4.0
73 St Kitts and Nevis 3.7 Caribbean 3.1
85 Bahamas 3.3 88 Bahamas 3.0
Caribbean 3.2 94 Bermuda 2.9
103 Bermuda 2.9 100 Aruba 2.7
World 2.1 116 St Kitts and Nevis 2.2
131 Aruba 1.9 World 1.9
135 Antigua and Barbuda 1.8 152 Antigua and Barbuda 0.8
180 Barbados -3.46 179 Barbados -3.30
2017 2017
TRAVEL & TOURISM INVESTMENT % growth VISITOR EXPORTS % growth
31 Martinique 7.3 5 Martinique 12.2
89 Grenada 4.2 29 Grenada 9.7
World 4.1 74 St Kitts and Nevis 7.0
101 Antigua and Barbuda 3.6 76 St Lucia 6.9
108 St Kitts and Nevis 3.2 92 Trinidad and Tobago 5.9
113 St Lucia 2.7 Caribbean 5.3
Caribbean 2.5 120 Bahamas 4.7
127 Trinidad and Tobago 2.4 World 4.5
131 Bahamas 2.3 126 Aruba 4.4
138 Barbados 2.1 127 Bermuda 4.3
141 Aruba 1.9 136 Antigua and Barbuda 3.8
152 Bermuda 1.1 184 Barbados -3.13
TRAVEL & TOURISM'S DIRECT 2017 - 2027 TRAVEL & TOURISM'S TOTAL 2017 - 2027
CONTRIBUTION TO GDP % growth pa CONTRIBUTION TO GDP % growth pa
TRAVEL & TOURISM'S DIRECT 2017 - 2027 TRAVEL & TOURISM'S TOTAL 2017 - 2027
CONTRIBUTION TO EMPLOYMENT % growth pa CONTRIBUTION TO EMPLOYMENT % growth pa
TRAVEL & TOURISM CONTRIBUTION 2017 - 2027 VISITOR EXPORTS 2017 - 2027
TO TOTAL CAPITAL INVESTMENT % growth pa CONTRIBUTION TO TOTAL EXPORTS % growth pa
% of total refers to each indicator's share of the relevant whole economy indicator such as GDP and employment. Visitor exports is shown relative to total exports of goods and services.
Domestic spending is expressed relative to whole economy GDP. For leisure and business spending, their direct contribution to Travel & Tourism GDP is calculated as a share of
whole economy GDP (the sum of these shares equals the direct contribution). Investment is relative to whole economy investment.
(BBDmn, real 2016 prices) 2011 2012 2013 2014 2015 2016 2017E 2027F
1. Visitor exports 1932.0 1871.2 1941.3 2078.7 2187.0 2425.9 2350.0 3565.0
Domestic expenditure
2. 276.8 220.5 233.7 241.0 262.8 269.0 275.3 327.3
(includes government individual spending)
7. Capital investment 278.6 263.2 255.2 260.0 264.7 268.5 274.0 464.5
8. Government collective spending 246.3 193.1 188.7 179.9 188.1 187.6 188.8 223.7
10. Induced 566.5 529.4 531.2 535.1 548.7 591.7 569.5 764.7
12. Direct contribution of Travel & 14.2 12.6 13.1 14.9 15.5 17.0 16.4 20.8
Tourism to employment
Other indicators
234.0 156.8 142.9 186.2 227.1 231.5 239.3 323.9
14. Expenditure on outbound travel
(BBDmn, nominal prices) 2011 2012 2013 2014 2015 2016 2017E 2027F
1. Visitor exports 1931.8 1854.0 1942.8 2067.4 2151.9 2425.9 2381.3 4599.9
Domestic expenditure
2. 276.8 218.4 233.9 239.6 258.6 269.0 279.0 422.3
(includes government individual spending)
7. Capital investment 278.6 260.8 255.4 258.6 260.4 268.5 277.6 599.4
8. Government collective spending 246.3 191.3 188.8 178.9 185.1 187.6 191.3 288.7
10. Induced 566.4 524.5 531.6 532.2 539.9 591.7 577.1 986.7
12. Direct contribution of Travel & 14.2 12.6 13.1 14.9 15.5 17.0 16.4 20.8
Tourism to employment
Other indicators
234.0 155.4 143.0 185.2 223.4 231.5 242.5 417.9
14. Expenditure on outbound travel
*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended Methodological
Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Office of the European Communities (EUROSTAT),
the Organisation for Economic Co-operation and Development (OECD) and the World Tourism Organization (UNWTO).
Historical data for concepts has been benchmarked to match reported TSA data where available.
1. Visitor exports -6.7 -3.1 3.8 7.1 5.2 10.9 -3.1 4.3
Domestic expenditure
2. 14.3 -20.3 6.0 3.1 9.1 2.3 2.4 1.7
(includes government individual spending)
7. Capital investment 5.9 -5.5 -3.0 1.9 1.8 1.4 2.1 5.4
8. Government collective spending 9.0 -21.6 -2.3 -4.7 4.6 -0.3 0.6 1.7
10. Induced -2.7 -6.5 0.3 0.7 2.5 7.8 -3.8 3.0
12. Direct contribution of Travel & -13.8 -11.5 4.0 14.0 4.3 9.8 -3.5 2.4
Tourism to employment
Other indicators
-63.3 -33.0 -8.9 30.3 22.0 1.9 3.4 3.1
14. Expenditure on outbound travel
1 2
2011-2016 real annual growth adjusted for inflation (%); 2017-2027 annualised real growth adjusted for inflation (%)
TRAVEL & TOURISM and government individual spending. This does not include spending
Relates to the activity of travellers on trips outside their usual abroad by residents. This is consistent with total internal tourism
environment with a duration of less than one year. Economic activity expenditure in table 4 of the TSA: RMF 2008.
related to all aspects of such trips is measured within the research.
BUSINESS TRAVEL & TOURISM SPENDING
DIRECT CONTRIBUTION TO GDP Spending on business travel within a country by residents and
GDP generated by industries that deal directly with tourists, including international visitors.
hotels, travel agents, airlines and other passenger transport services,
as well as the activities of restaurant and leisure industries that LEISURE TRAVEL & TOURISM SPENDING
deal directly with tourists. It is equivalent to total internal Travel & Spending on leisure travel within a country by residents and
Tourism spending (see below) within a country less the purchases international visitors.
made by those industries (including imports). In terms of the UNs
Tourism Satellite Account methodology it is consistent with total
GDP calculated in table 6 of the TSA: RMF 2008. INDIRECT AND INDUCED IMPACTS
DIRECT CONTRIBUTION TO EMPLOYMENT INDIRECT CONTRIBUTION
The number of direct jobs within Travel & Tourism. This is consistent The contribution to GDP and jobs of the following three factors:
with total employment calculated in table 7 of the TSA: RMF 2008.
CAPITAL INVESTMENT: Includes capital investment spending
TOTAL CONTRIBUTION TO GDP by all industries directly involved in Travel & Tourism. This
GDP generated directly by the Travel & Tourism sector plus its also constitutes investment spending by other industries on
indirect and induced impacts (see below). specific tourism assets such as new visitor accommodation
and passenger transport equipment, as well as restaurants and
TOTAL CONTRIBUTION TO EMPLOYMENT leisure facilities for specific tourism use. This is consistent with
The number of jobs generated directly in the Travel & Tourism sector total tourism gross fixed capital formation in table 8 of the TSA:
plus the indirect and induced contributions (see below). RMF 2008.
In 2017, we have also been able to add a new country, Tajikistan, taking our coverage to 185 countries. WTTC also produces reports on 25
other regions, sub-regions and economic and geographic groups. This year, there are 10 reports for special economic and geographic groups
with GCC and the Organisation of Islamic Cooperation being included for the first time.
SUB-REGION
SUB REGION
SUB REGION
SUB REGION
REGION
REGION
REGION
REGION
COUNTRY COUNTRY COUNTRY COUNTRY
NORTHEAST ASIA
Libya Aruba Japan Italy
Morocco Bahamas South Korea Latvia
Tunisia Macau
Barbados Lithuania
Angola Mongolia
Bermuda Luxembourg
Taiwan
EUROPEAN UNION
Benin
British Virgin Islands Malta
Kazakhstan
CENTRAL ASIA
Botswana
Cayman Islands Netherlands
Burkina Faso Kyrgyzstan
Cuba Poland
Burundi Tajikistan
Dominica Portugal
Uzbekistan
Cameroon
CARIBBEAN
Comoros
Haiti Papua New Guinea Sweden
Congo
ASIA-PACIFIC
EUROPE
Puerto Rico Vanuatu Armenia
Ethiopia
Other Oceanic States
Gabon St Kitts and Nevis Azerbaijan
Bangladesh
Gambia St Lucia Belarus
India
SOUTH ASIA
Nepal
Kenya US Virgin Islands Iceland
OTHER EUROPE
Pakistan
Lesotho Argentina Macedonia
SUB-SAHARAN
Sri Lanka
Madagascar Belize Moldova
Brunei Darussalam
Malawi Bolivia Montenegro
Cambodia
Mali
SOUTHEAST ASIA (ASEAN)
Nigeria
El Salvador Singapore Ukraine
Reunion
Guatemala Thailand Bahrain
Rwanda Vietnam
Guyana Iran
Sao Tome and Principe Austria
Honduras Iraq
Senegal Belgium
Nicaragua Israel
Seychelles Bulgaria
Panama Jordan
MIDDLE EAST
Peru
Sudan and South Sudan Czech Republic
Suriname Oman
Swaziland Denmark
Tanzania Uruguay Qatar
Estonia
Together with Oxford Economics, WTTC produces annual research that shows Travel & Tourism to be one of the worlds largest sectors,
supporting over 292 million jobs and generating 10.2% of global GDP in 2016. Comprehensive reports quantify, compare and forecast the
economic impact of Travel & Tourism on 185 economies around the world. In addition to the individual country reports, WTTC produces a
world report highlighting the global economic impact and issues, and 24 further reports that focus on regions, sub-regions and economic
and geographic groups.
Assisting WTTC to Provide Tools for Analysis, Benchmarking, Forecasting and Planning.
Founded in 1981 as a commercial venture with Oxford Universitys business college, Oxford Economics is one of the worlds foremost
independent global advisory firms, providing reports, forecasts and analytical tools on 200 countries, 100 industrial sectors and over 3,000
cities. Their best-of-class global economic and industry models and analytical tools give an unparalleled ability to forecast external market
trends and assess their economic, social and business impact. Headquartered in Oxford, England, with regional centres in London, New York
and Singapore, Oxford Economics has offices across the globe in Belfast, Chicago, Dubai, Miami, Milan, Paris, Philadelphia, San Francisco, and
Washington DC. The company employs over 250 full-time people, including 150 professional economists, industry experts and business
editors one of the largest teams of macroeconomists and thought leadership specialists underpinning the in-house expertise is a
contributor network of over 500 economists, analysts and journalists around the world.
For more information, please see www.oxfordeconomics.com, or contact Frances Nicholls, Director of Business Development,
Oxford Economics Ltd, Broadwall House, 21 Broadwall, London SE1 9PL. Email: fnicholls@oxfordeconomics.com
STR is the source for premium hotel data benchmarking, analytics and marketplace insights. STR provides data that is reliable, confidential,
accurate and actionable, and their comprehensive solutions empower clients to strategize and compete within their markets. The range of
products includes data-driven solutions, thorough analytics and unrivalled marketplace insights, all built to fuel business growth and help
clients make better operational and financial decisions. STR maintains a presence in 16 countries, and collects data for over 55,000 hotels
across 180 countries.
BOTH OF WHICH
JOBS CREATE JOBS...
which pay salaries, wages,
profits, and taxes
World Travel & Tourism Council: Travel & Tourism Economic Impact 2017 - March 2017. All rights reserved.
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