Tourism Industry to Generate $7 Trillion This Year

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].

Read more on:

Suggested Articles:

New Jersey is the latest state to introduce legislation to implement a rigid version of the so-called "ABC test." Here's the latest.

For the first time since Allianz Global Assistance began tracking in 2015, the Dominican Republic is the number one Thanksgiving travel destination.

Advisors had the chance to attend Viking Cruises’ Executive Retreat and Travel Corporation’s Family Day. Take a look.