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Travel Industry News |
Saturday November 22nd, 2008 |
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The World Market for Travel and Tourism |
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The tourism industry was performing well up until 2001, when growth began to slow due to the first signs of economic recession. |
The industry was then dealt a massive blow by the September 11th attacks in the US, which had the immediate effect of destroying consumer confidence and exacerbating economic problems. For the whole year 2001, the number of arrivals worldwide is estimated to have declined by just over 1% to total almost 689 billion. However, the tourism market is fundamentally healthy, with growth in arrivals over the 1997-2001 period of over 14%. France remained by far the most popular tourist destination in the world, and the number of arrivals continued to increase in 2001, despite the effects of the September 11th attacks, to reach 76.5 billion. Spain overtook the US as the world’s second largest tourism destination in 2001, due to the sharp fall of almost 13% in traffic to the US following the terrorist attacks. Euromonitor’s in-depth global study on recent trends supplies essential analysis of global and country-specific tourism receipts, and pinpoints opportunities with forecasts to 2006.
For more information on the report - click here
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