from today's STR newsletter (3/7):
Continued growth signalled for Travel & Tourism Industry
The latest research for Travel & Tourism anticipates a slowdown in the industry in 2008 but prospects are bright for the coming ten years
"Berlin, GERMANY | World Travel & Tourism is expected to generate close to US$8 trillion in 2008, rising to approximately US$15 trillion over the next ten years, according to the latest Tourism Satellite Accounting (TSA) research launched today by the World Travel & Tourism Council (WTTC) and its strategic partner Accenture.
Overall, the new TSA results reveal a moderate impact on the Travel & Tourism industry as a result of the global economic downturn, with its annual growth rate experiencing a slowdown in 2008, to 3%, in comparison to 3.9% in 2007.
Looking past this present cyclical downturn, the long-term forecasts point to a mature but steady phase of growth for world Travel & Tourism between 2009 and 2018, averaging a growth rate of 4.4% per annum, supporting 297 million jobs and 10.5% of global GDP by 2018." ...
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