The World Travel & Tourism Council (WTTC) has presented a picture of cautious optimism for the tourism industry in their presentation to Tourism Ministers from APEC Member Economies meeting in Punta Arenas, Chile today.
In its presentation on their Tourism Satellite Accounting (TSA) the WTTC President, Jean-Claude Baumgarten, said the industry has weathered the "perfect storm of terrorism, war and health concerns that created a disproportionate toll of concern and impact on our consumers, the industry and our economy".
Mr. Baumgarten was invited to brief 3rd APEC Tourism Ministers' Meeting at the invitation of Chile's Minister of Economy and Energy, Jorge Rodriguez Grossi, who chaired the meeting.
WTTC is forecasting that the Travel & Tourism industry is poised for a robust recovery in 2004, and the worldwide industry is expected to generate:
US$ 5,490.4 billion of economic activity
10.4 per cent of total GDP
214,697,000 jobs or 8.1 per cent of total employment
12.2 per cent of total exports
Mr. Baumgarten also presented Ministers with a new ranking and scale for Travel & Tourism output in each of the APEC Member Economies. Mr. Baumgarten highlighted "The massive Travel & Tourism demand in the USA at nearly US$1.5 trillion in 2004, followed by Japan at almost US$500 billion.
He continued, "China is also beginning to show its true potential, now ranking at number 8 of 174 countries at nearly US$250 billion in 2004," Mr. Baumgarten said.
"We believe that China will become a tourism economy like the world has never seen. However, the Chinese Government needs to prepare the groundwork for new consumer demand, by facilitating the development of transportation networks, infrastructure, tourism destinations, and a favourable policy environment."
The APEC Travel & Tourism Economies
Travel & Tourism Demand 2004
US$ Millions
World RankCountry US$ Millions 1 USA 1,460,000 2Japan 470,940 8 China 222,851 9 Canada 150,96110 Australia 94,033 12Mexico73,34513Korea69,94015Russia67,65520Hong Kong, China43,56227Indonesia30,30128Thailand29,35729Chinese Taipei26,06633Malaysia24,31135Singapore21,59841New Zealand14,99048Philippines10,13654Chile7,16056Peru6,65058Viet Nam6,029121PNG860127
Brunei Darussalam
709
Mr. Baumgarten also spoke about WTTC's long-term forecast for growth in the APEC economies. The forecast showed Travel & Tourism to be growing fastest in China, Viet Nam, Chinese Taipei, Mexico and Indonesia. With two APEC Economies in WTTC's top ten list, China at number three and Viet Nam at number four, Mr. Baumgarten declared this "an extraordinary vote of confidence from WTTC and its research partner Oxford Economics".
He added, "Although the outlook is particularly positive for many of the APEC economies, we must strengthen our efforts to move Travel & Tourism up the priority ladder and secure our industry against political complacency, terrorism and health concerns so it can fulfil the promise of job creation that the APEC economies seek."
The APEC Travel & Tourism Economies
Travel & Tourism Demand 2005-2014
Annualized Percent Growth
World RankCountry Annl Pct Growth 3 China8.74Viet Nam 8.3 12 Chinese Taipei7.3 13 Mexico7.114 Indonesia7.1 21Russia6.824Hong Kong, China6.728Singapore6.643Korea6.048Malaysia5.953Thailand5.859Philippines5.768Chile5.576Australia5.3109Peru4.5111PNG4.5120New Zealand 4.3124Canada4.2129USA4.1141
Brunei Darussalam
3.8173
Japan
2.4
Mr. Baumgarten also briefed Ministers the WTTC's call to action for growth, the Blueprint for New Tourism, which declares Travel & Tourism as a partnership. The Blueprint is intended as a course of action designed to deliver consistent results that match the needs of economies, local and regional authorities and local communities. The premise behind the Blueprint for New Tourism is based on:
Governments recognizing Travel & Tourism as a top priority
Business balancing economics with people, culture and environment
A shared pursuit of long-term growth and prosperity
The 3rd APEC Tourism Ministers' Meeting was held in Punta Arenas, Chile, on October 13-14. Further information about the meeting and the Patagonia Declaration on Tourism in the APEC Region that was endorsed by Ministers is now available.
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