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Global travel and tourism market set to rise to $13 trillion over the next 10 years

09 March 2007 by
Global travel and tourism market set to rise to $13 trillion over the next 10 years

The global market for travel and tourism is expected to generate more than US$7 trillion (£3.6 trillion) in 2007, rising to over $13 trillion (£6.7 trillion) over the coming decade, according to research.

The Tourism, Satellite Account research, carried out by Oxford Economics on behalf of The World Travel & Tourism Council, shows strong performance for travel and tourism in 2007, with growth of 3.9%.

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 annum, between 2008 and 2017.

The report, sponsored by consultancy Accenture, shows that the USA continues in its pole position with travel and tourism demand accounting for more than $1,689.3b this year.

China, which currently stands in third position behind Japan, is forecast to move up to second position by 2017. The Chinese tourism market will grow 9.6% per annum, over the next 10 years, the report says.

By 2017, the Russian Federation will enter the top 10 list of countries.

View more trends and date on tourism and leisure here >>

Tourism and leisure market overview >>

World tourism up despite security fears >>

Developing a Tourism Strategy for 2012 >>

By Daniel Thomas

E-mail your comments to Daniel Thomas](mailto:daniel.thomas@rbi.co.uk?subject=Global travel and tourism market set to rise to $13 trillion over the next 10 years) here.

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