01.12.2014 Views

Tourism Risk Management - Sustainable Tourism Online

Tourism Risk Management - Sustainable Tourism Online

Tourism Risk Management - Sustainable Tourism Online

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

CHAPTER 1: PROTECTING TOURISM<br />

Aim of this Chapter<br />

<strong>Tourism</strong> has become one of the major generators for social and economic growth in the world and<br />

one of the leading drivers of international trade. In order to gain the support of key decision-makers in<br />

government and industry it is critical that the value and importance of tourism for each destination is<br />

clearly articulated. The aim of this chapter is to highlight the importance of tourism for generating<br />

income, creating and sustaining jobs, encouraging foreign investment and facilitating trade<br />

opportunities for each of the 21 APEC economies within the regional trading bloc and worldwide. It<br />

also emphasizes the impact of world events on national economies and the business of tourism<br />

everywhere. This chapter is intentionally directed at national, state/provincial and local government<br />

officials who may not be fully aware of the economic value of tourism to their destinations, yet whose<br />

support is crucial to destinations having resources in place to manage risks to tourism.<br />

Profile of <strong>Tourism</strong> Worldwide<br />

Travel and tourism - encompassing accommodation, transport, catering, recreation and visitor<br />

services - is one of the world’s highest priority industries and employers. In 2006 travel and tourism is<br />

expected to post US$6,477.2bn of economic activity (total demand) and is expected to directly<br />

contribute 3.6% (US$1,754.5bn) to Gross Domestic Product (GDP).<br />

The total direct and indirect economic contribution (percentage of total) of travel and tourism is<br />

estimated to rise from 10.3% (US$4,963.8bn) in 2006 to 10.9% (US$8,971.6bn) in 2016, and is<br />

expected to generate 234,305,000 jobs, 8.7% of total employment in 2006, rising to 279,347,000<br />

jobs, 9.0% of total employment, over the same time period.<br />

The following table provides a snapshot of the projected value of tourism to the world’s economy<br />

from 2006 to 2016:<br />

Table 1: World Travel and <strong>Tourism</strong> (T&T) Estimated Forecasts<br />

2006 2016<br />

World US$ bn % of Total Growth 1 US$ bn % of Total Growth 2<br />

Personal Travel and <strong>Tourism</strong> 2,845 9.5 3.7 4,916 9.8 3.4<br />

Business Travel 672 --- 5.9 1,190 --- 3.6<br />

Government Expenditures 300 3.8 2.2 481 4.0 2.6<br />

Capital Investment 1,011 9.3 4.9 2,060 9.6 4.6<br />

Visitor Exports 896 6.4 6.5 1,754 5.5 4.9<br />

Other Exports 750 5.4 5.0 1,715 5.4 6.5<br />

Travel and <strong>Tourism</strong> Demand 6,477 --- 4.6 12,119 --- 4.2<br />

T&T Industry GDP 1,754 3.6 4.4 2,969 3.6 3.2<br />

T&T Economy GDP 4,964 10.3 4.8 8,972 10.9 3.7<br />

T&T Industry Employment 76,728.7 2.8 3.4 89,484.5 2.9 1.6<br />

T&T Economy Employment 234,304.5 8.7 4.4 279,346.7 9.0 1.8<br />

(Source: World Travel and <strong>Tourism</strong> Council, 2006)<br />

1<br />

2006 Real Growth Adjusted for Inflation (%)<br />

2<br />

2007-2016 Annualized Real Growth Adjusted for Inflation (%): ‘000 of Jobs<br />

4 <strong>Tourism</strong> <strong>Risk</strong> <strong>Management</strong> – An Authoritative Guide to Managing Crises in <strong>Tourism</strong>

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!