According to a new World Travel and Tourism Council (WTTC) forecast for 2018 tourism industry worldwide will continue to growth although a slower rate than in 2017 as a result of higher oil prices.
The report in the official page of the international organization assured that the long-term outlook to 2028 remains unchanged with average growth of 3.8 % per year.
In its annual Economic Impact Report the organization said also that the tourism sector was responsible for the creation of 7 million new jobs worldwide in 2017, or one in five new jobs.
That was due largely to the fact that the sector outperformed the global economy for the seventh year running, growing by 4.6 percent against 3 percent. The sector, according to the organization, outperformed all others.
“2017 was the best year on record for the travel & tourism sector,” said Gloria Guevara, president and CEO of the WTTC. “We have seen increased spending as a result of growing consumer confidence, both domestically and internationally, recovery in markets in North Africa and Europe previously impacted by terrorism and continued outbound growth from China and India.”
The forecast suggest that though the WTTC forecasts 2018 growth of 4 percent as a result of higher oil prices and airfares as well as expectations of rising interest rates in countries such as the U.S. and the U.K., it kept its long-term forecasts unchanged, with average annual growth of 3.8 percent over the next decade. By then, it expects the sector to support more than 400 million jobs globally, or one in nine of all jobs.
In a reference about the so-called over tourism, WTTC added that is imperiling cherished buildings, straining infrastructure and harming the experience of travelers and local residents alike.
Tourism-phobia has become increasingly prevalent, particularly in European destinations such as Barcelona and Venice, where visitors crowd the same places at the same time. The WTTC is involved in efforts to spread tourists around destinations and smooth out demand over time.
The World Travel and Tourism Council (WTTC) was formed in 1991. Its objective is to make a contribution to expand markets in harmony with the environment and to reduce barriers to growth.