WTTC report suggests prosperous times ahead

The World Travel and Tourism Council (WTTC) delivered an incisive snapshot of the state of the industry in its latest report, published March 2010. While the past year has been one of reflection and consolidation, tourism projections hint at big future gains.

In its Travel & Tourism Economic Impact report, the WTTC revealed the industry's GDP diminished by 4.8% last year. Against this fall, the sector still provided more than 235 million jobs.

Recovery is expected to be gradual. While growth of just 0.5% is expected in 2010, momentum gained through the second half of the year and beyond is anticipated to produce a comparatively huge 3.2% leap in travel and tourism GDP for 2011.

The travel and tourism industry's share of overall GDP will near 10% ($11.15bn) by 2020 - almost double in real terms its contribution ($5.75bn) in 2010, said the WTTC.

Travel & Tourism investment is estimated at US$1,241 bn, or 9.2% of total investment, in 2010. By 2020, this should reach US$2,757 bn or 9.4% of total investment.

• Click here to download the Executive Summary of the WTTC Travel & Tourism Economic Impact report.