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According to Chief Business Officer, World Economic Forum, Robert Greenhill, after two years during which the Travel & Tourism (T&T) sector faced a myriad of obstacles, it is now emerging from the most difficult period in its recent history. The industry has faced not only the global economic crisis and volatile oil prices, but also climatic disturbances, multiple security incidents, pandemics, and strikes among industry personnel. Following all these shocks, the sector is now witnessing a gradual recovery, with emerging markets leading the way. Indeed, after a significant contraction in 2009, international tourist arrivals picked up again in 2010 and have returned to their pre-crisis peak level. The World Travel & Tourism Council (WTTC) estimates that, from direct and indirect activities combined, the T&T sector now accounts for a remarkable 9.2 percent of global GDP, 4.8 percent of world exports, and 9.2 percent of world investment.
The T&T sector thus clearly remains a critical one for the world economy, accounting for a significant share of global employment and also providing an important opportunity for developing countries to move up the value chain toward the production of higher-valueadded services. In this context, an analysis of the T&T competitiveness of individual economies around the world remains pertinent. This is the objective of this fourth edition of The Travel & Tourism Competitiveness Report (TTCR).
The World Economic Forum has for the past five years engaged key industry and thought leaders through its Aviation, Travel & Tourism Industry Partnership Programme to carry out an in-depth analysis of the T&T competitiveness of economies around the world. The aim is to provide a platform for multi-stakeholder dialogue to ensure the development of strong and sustainable national T&T industries capable of contributing effectively to international economic development. The theme of this edition of the TTCR, “Beyond the Downturn,” reflects the cautiously optimistic outlook and many complexities still facing the industry that must be overcome to ensure strong sectoral growth going into the future.
At the core of this year’s Report is the fourth edition of the Travel & Tourism Competitiveness Index (TTCI). The aim of the TTCI, which covers a record 139 economies this year, is to provide a comprehensive strategic tool for measuring “the factors and policies that make it attractive to develop the T&T sector in different countries.” By providing detailed assessments
of the T&T environments in countries worldwide, the results can be used by all stakeholders to work together to improve the industry’s competitiveness in their national economies, thereby contributing to national growth and prosperity. It also allows countries to track their progress over time in the various areas measured.
The full Report is downloadable here and contains detailed profiles for each of the 139 economies featured in the study, as well as an extensive section of data tables with global rankings covering over 70 indicators included in the TTCI. In addition, it includes insightful contributions from a number of industry experts. These chapters explore issues such as the impact of the recent economic and financial crisis on the tourism industry, the opportunities for increasing the sector’s competitiveness, and the important role to be played by Travel & Tourism in the emerging green economy.
You can read the full report here.
TravelDailyNews Asia-Pacific editorial team has an experience of over 35 years in B2B travel journalism as well as in tourism & hospitality marketing and communications.
