A Decade of Growth for Travel and Tourism

According to the World Travel and Tourism Council, a sustained growth in travel is predicted over the next ten years with forecasts suggesting an annual increase in turnover of 4.3%. Although growth in 2007 is expected to be slightly lower than this at 3.9 %, World Travel and Tourism Council president Jean-Claude Baumgarten believes it is only insufficient government investment that is holding the industry back, “Growth this year is not expected to be as dynamic as 2006, but I have never seen such a strong world economy”. Baumgarten also claims that high oil prices have failed to affect the industry as it grows seemingly from strength to strength.

Geoffrey Kent, Chairman of the World Travel and Tourism Council admitted he was left feeling "puzzled" that politicians continue to not take the travel industry seriously by failing to invest in opportunities and incorporate it into future plans.

Speaking at the ITB trade shoe in Berlin, the World Travel and Tourism Council also predict a sharp rise in Chinese fortunes, with China moving from being the worlds third-biggest travel economy to second place ahead of Japan by 2017, leaving the United States still at number 1. The World Travel and Tourism Council include representatives of many of the worlds biggest travel companies.