The travel and tourism industry is globally rising like flames

It is not rumors. It is not speculation. Travel and tourism business around the world is witnessing steady growth. Compared to other profession, this news is appetizing for tourism professionals.

World Travel and Tourism Council (WTTC) has backed this claim by pin-pointing how this startling fact has come to being. In it’s highly revered annual economic impact research report, WTTC revealed that about 7 million new jobs were created by tourism and travel business.

Despite a slower general global economic growth, travel and tourism was ahead of the pack with a 50% margin. Namely, the industry grew at 4.6 percent. It officially reported that Tourism outpaced the world economy for seven consecutive years.

Well, it just does not end there. Economy grinding industries like Manufacturing, Retail and Wholesale, Agriculture, and financial services are competitively challenged by the growth rate of Travel and tourism.

Exceptionally high growth rate recorded in certain countries

Certain countries or shall I say continents took the center-stage. They’ve recorded unprecedented spike that ranks higher than global average. Starting with Europe outperformed the estimates, well beyond the bell curve at 4.8 growth rate. Intra-regional travel was a dominating factor in the up rise. Even IATA reports a parallel airline demand which rose at 8.1 percent.

North Africa shows strong sign of recovery after the setbacks from terror strike. A slow yet optimistic outlook featured at 2.6 percent.

Egypt and Tunisia are unexpectedly grew at a record high of 7.3 percent and 7.6 percent respectively.

Individually, China is peaking with 9.8 percent while North-East and South-East Asia hovers at 7.4 percent and 6.7 percent respectively.