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For the fourth straight year, the travel industry continues to contribute to the world's economy

According to the World Travel and Tourism Council’s Economic Impact Report, in 2013:

  • Travel & Tourism continues to outperform the wider economy in terms of economic growth (3% vs. 2%)

  • Travel & Tourism not only outpaced the wider economy, but also grew faster than other significant industries such as financial and business services, retail and distribution, public services, transport and manufacturing.

  • 4.7 million new jobs were created as a result of tourism activity

  • Visitor exports, the measure of money spent by international tourists, exceeded expectations rose by 4% to $1.3 trillion and by more than 10.2% within South East Asia.

  • South East Asia leads the pack in terms of both total Travel & Tourism economic and employment growth at 7.9% and 4.1% respectively.

  • In Europe, both total Travel & Tourism GDP and employment growth have exceeded expectations, boosted by strong demand from long-haul markets.

  • There was particularly strong expenditure growth from travelers of China, Russia, Brazil, Indonesia, Turkey and Egypt in 2013 to other destinations.

  • At 8.3%, China is expected to grow the most of any G20 country in 2014.

Click here to read more about the report.

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