Said Mariette Du Toit-Helmbold, Cape Town Tourism CEO: “The international tourism industry provided more than 235 million jobs last year, representing 8 percent of international employment. Despite economic uncertainty, tourism will remain a significant international economic driver with international tourist arrivals forecast to reach 1.8 billion by 2030.”
At the Global Trends Report at the World Travel Market 2011, several key emerging international travel trends were discussed.
Divided into geographic areas, the report, published by Euromonitor International, indicated the different ways the travel and tourism industry are reacting to both the global economic downturn, as well as political and social unrest such as in the Middle East.
Global arrivals are predicted to slow down 5.8 percent from last year but by 2012 are anticipated to break the one billion arrivals barrier—accumulating in a total spend of almost US$1 trillion. The global overview was of “recovery on the brink” with many analysts anticipating a double-dip recession, specifically in Europe. The International Monitory Fund predicts a 4 percent global GDP growth in 2011, down from 5.1 percent in 2010. Rising fuel and commodity prices, taxation, austerity procedures, political turmoil, and social unrest are all reported to have contributed to the slower GDP growth. Across all markets, online marketing is considered to be the most significant growth area in the long term, with applications on social media and mobile devices very lucrative in the medium-term.