14 March 2006 Tourism industry exceeds $6 trillion in 2005
The travel and tourism industry exceeded US $6 trillion across the world in 2005, new research has found.
Jointly conducted by the World Travel and Tourism Council (WTTC) and Accenture, the report revealed that there was a 5.7 per cent industry growth from 2004 to 2005 and predicts that there will be a rise of 4.6 per cent in the coming year, generating $6.5 trillion.
Although events such as the Boxing Day tsunami and the 2005 bombings in London and Egypt dented the local tourism industries, they did not materially affect global tourism, the report found.
"We are witnessing the power, speed and vitality of travel and tourism and how they can bring economic opportunity and jobs to people and economies seeking sustainable development," said WTTC president, Jean-Claude Baumgarten.
Buoyed by the security a growing number of travelleres are visiting countries which previously attracted fewer tourists.
Such countries include Montenegro, China, India and Romania.
Commenting on the efforts being made by these countries, Mr Baumgarten said: "They've come to appreciate the impact of international visitors and resident tourism and have made strategic decisions from the highest office to focus attention, resources and effort on the economic potential."
Archive Travel Insurance News Stories
Related Travel Insurance News
26 March 2008 Women 'confident' to travel alone
Women have become more confident to travel to traditional and emerging... [more]
26 March 2008 Paris and Bruges 'are emerging destinations for city breaks'
Paris and Bruges have been named as emerging destinations for city breaks in... [more]
26 March 2008 Princess takes birthday trip to traditional ski resort
Princess Eugenie, daughter of Sarah Ferguson, Duchess of York, and the Duke of... [more]
26 March 2008 Snow falls across Europe
Snow has been falling across Europe in the past week, leaving many traditional... [more]
Get a travel insurance quote today from Travel Insurance Web, comprehensive cover at an amazingly low price.
