Tourism, an Economic and Social Phenomenon
Over the decades, tourism has experienced continued growth and deepening diversification to become one of the fastest growing economic sectors in the world. Modern tourism is closely linked to development and encompasses a growing number of new destinations. These dynamics have turned tourism into a key driver for socio-economic progress.
Today, the business volume of tourism equals or even surpasses that of oil exports, food products or automobiles. Tourism has become one of the major players in international commerce, and represents at the same time one of the main income sources for many developing countries. This growth goes hand in hand with an increasing diversification and competition among destinations.
This global spread of tourism in industrialised and developed states has produced economic and employment benefits in many related sectors - from construction to agriculture or telecommunications.
Key numbers:
- From 1950 to 2005, international tourism arrivals expanded at an annual rate of 6.5%, growing from 25 million to 806 million travellers.
- The income generated by these arrivals grew at an even stronger rate reaching 11.2% during the same period, outgrowing the world economy, reaching around US$ 680 billion in 2005.
- While in 1950 the top 15 destinations absorbed 88% of international arrivals, in 1970 the proportion was 75% and decreased to 57% in 2005, reflecting the emergence of new destinations, many of them in developing countries.
Current developments & forecasts:
- Worldwide arrivals reached 842 million in 2006, representing a 4.6% year on year growth.
- 2007 looks set to be the fourth consecutive year of sustained growth for a global tourism industry that continues to show its resilience to any natural or man-made crises.
- UNWTO predicts a 4% growth of international tourist arrivals in 2007, in line with its long-term forecast growth rate through to 2020 of 4.1%.
By 2020 international arrivals are expected to surpass 1.5 billion people.
