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Tourism Industry to Generate $7 Trillion This YearMarch 9, 2007 By: Joe Pike Travel Agent
Travel and tourism is expected to generate in excess of $7 trillion in 2007, rising to more than $13 trillion over the coming decade, according to the World Travel & Tourism Council's (WTTC) Tourism Satellite Account (TSA) research, sponsored by Accenture and prepared by Oxford Economics. The new TSA results show strong performance for the sector, growing at a rate of 3.9 percent. This forecast points to a mature but steady phase of growth in the short and medium term, averaging 4.3 percent per annum, between 2008 and 2017. The 2007 Tourism Satellite Accounting Research is available for download at [www.wttc.travel].