Tourism to Generate $ 13 Trillion

World travel and tourism is expected to generate in excess of $7 trillion in 2007, rising to over $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 travel and tourism demand in 2007, growing at a rate of 3.9 per cent.

This forecast points to a mature but steady phase of growth for world travel and tourism in the short and medium term, averaging 4.3 per cent per annum, between 2008 and 2017.

WTTC’s president, Jean-Claude Baumgarten, said “the full potential of travel and tourism can only realized with the full and long term support of (national and local) government.”