Importance of Travel and Tourism to the Global Economy
1 in 11 jobs are now supported by the travel and tourism industry and it contributed 9.5% to the global economy in 2013. Firstly, the emergence of a strong global middle class in China, Russia, India, and Brazil has resulted in an increased demand to experience cultures beyond their own. People from these countries are now travelling more frequently, and in China alone another 2 billion people are expected to join the middle class in the next 15 years.
Moreover, it has become very popular recently for young people to take a year out to travel. It’s interesting that student spending has increased 40% since 2007 despite the economic downturn.
This info-graphic from Nerval, a restaurant and hotel furniture supplier in Canada, outlines the importance of travel and tourism and describes how the hospitality sector can maximize their revenue from this.
It would be easy for many in the hospitality industry to relax and assume that, because of the amount of people travelling, they will make money regardless. However, it is the hotels and restaurants who focus on creating unique experiences for each guest that will be the most successful.
For everyone of us who has chosen this beautiful job, we’ve so many potential opportunities for the next years to think only positive…
In the meantime we send a big Thank you to Mario of the Nerval company.