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HOSPITALITY INDUSTRY // Key Facts |
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The Travel and Tourism industry is the largest employer in the world with the ambition to keep growing and developing. The hospitality industries combined with tourism, are expected to grow to 12.5% of the world's Gross Domestic Product by 2010. Its wide spectrum of employment opportunities includes hotels and restaurants but also many other sectors such as travel agencies, transportation, health and spas, theme parks and casinos to name just a few.
The facts below are extracted from the World Travel & Tourism Council (2007) and look very promising:
EMPLOYMENT
- 2007: World Travel & Tourism Economy employment is estimated at 231.2 million jobs - 8.3% of total employment, or 1 in every 12.0 jobs.
- By 2017, this should total 262.2 million jobs worldwide.
GROWTH
- Worldwide, Travel & Tourism activity is expected to grow by 4.3% per annum in real terms between 2008 and 2017.
DEMAND
- Worldwide in 2007 Travel & Tourism is expected to post US$7,060.3 billion of economic activity
By 2017 it is expected to generate US$13,231.6 billion
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