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within 10yrs China will become the second largest Travel&Tourism economy in the World


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  • within 10yrs China will become the second largest Travel&Tourism economy in the World

    2006.4.24 World Travel and Tourism Council

    WTTC signals continued growth and room for improvement in new report for China and SARs

    Beijing, PRC, 24 April 2006 - The World Travel & Tourism Council (WTTC) presented today its brand new report on China, China Hong Kong SAR and China Macau SAR: The Impact of Travel & Tourism on Jobs and the Economy within ten years China will become the second largest Travel & Tourism economy in the world.

    The research contains economic projections for the growth of Travel & Tourism in China and a series of policy recommendations intended to maximize the potential of Travel & Tourism to the country's economy and tap its position as a leading catalyst for economic development and job creation.
    We're all running very fast to keep up with the changes that are taking place here, in Hong Kong and Macau
    In China for 2006, WTTC is forecasting:

    • Demand: Encompassing all components of Travel & Tourism consumption, investment, government spending and exports to grow 14.0 per cent (real terms) and total Rmb 2,770.3 billion (US$353.7 billion) in 2006. The ten-year annualized growth (2007-2016) forecast is 8.7 per cent per annum. This makes China the second fastest growing country in the world in terms of Travel & Tourism Total Demand.
    • Visitor Exports (Foreign Visitor spending in an Economy): Spending by inbound international visitors is expected to total Rmb 588.2 billion (US$75.1 billion) in 2006, representing 7.4 per cent of total exports.
    • Gross Domestic Product (GDP): Travel & Tourism's contribution to China 's economy is illustrated by the direct industry impact of 2.9 per cent of total GDP and the combined direct and indirect impact of the Travel & Tourism economy, which is expected to total 13.7 per cent in 2006.
    • Employment: China 's Travel & Tourism industry is expected to account for 17,383,000 jobs or 2.3 per cent of total employment in 2006. The broader perspective of the Travel & Tourism economy (direct and indirect), which includes the spillover employment associated with industry capital investment and government spending, is expected to account for 77,600,000 jobs dependent on Travel & Tourism or 10.2 per cent of total employment.
    In order for China to realize its potential in Travel & Tourism, WTTC's principal policy recommendations include:

    Last edited by PennysBayChronicle; 04-24-2006, 08:35 AM.

  • #2
    Re: within 10yrs China will become the second largest Travel&Tourism economy in the World

    Asian destinations on the rise in world tourism ranking
    (Top tourism destinations in 2004)

    The latest data on international tourist arrivals to the various destinations in the world collected by the World Tourism Organization showed significant changes in the table of the world's top tourism destinations in 2004. As a result of the strong rebound experienced last year, Asian destinations significantly strengthened their position in the ranking. Although the order of the three main world tourism destinations remained unchanged with France as unchallenged leader, major developments in 2004 included China taking over Italy's traditional position as the world's fourth most visited destination, and the entry of Hong Kong (China) among the top ten tourism destinations.


    The most notable change in the ranking by international tourist arrivals was China's move from 5th to the number 4 position, trading places with Italy. In 2004, China fully recovered from the setbacks caused by the SARS outbreak and posted a spectacular 27 per cent increase, achieving an all-time record of almost 42 million tourist arrivals, while tourist arrivals to Italy declined by more than 6 per cent to a total of 37.1 million.

    The United Kingdom maintained the 6th position with almost 28 million arrivals in 2004 (+12%). Hong Kong (China) made a spectacular entrance into the top ten taking over the 7th position after a 40 per cent jump in arrivals in 2004 to almost 22 million. Mexico (20.6 million) and Germany (20.1 million) kept the same positions as last year, while Austria (19.4 million) fell back to the 10th position.
    Source : WTO (World Tourism Organization)


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