2015 Travel & Tourism Competitiveness Report Released

"Growth Through Shocks," the World Economic Forum's 2015 Travel & Tourism Competitiveness Report, compares the economies of 141 nations, analyzing implications for travel and tourism.

The editors of the report note, "The world has been facing geopolitical tensions from the Middle East and Ukraine to South-East Asia, growing terrorism threats and fear of the spread of global pandemics. Should they persist, these global challenges could have significant further repercussions on the T&T industry, as they touch on the pre-condition for the sector to grow and develop—the ability of people to travel safely."

They also note that in spite of these challenges, "... The T&T sector has actually continued to grow over these past years. International tourist arrivals reached a record 1.14 billion in 2014, 51 million more than in 2013, according to the United Nations World Tourism Organization (UNWTO). The World Travel & Tourism Council (WTTC) estimates that the T&T sector now accounts for 9.5% of global GDP, a total of US$ 7 trillion, and 5.4% of world exports. Encouraging the development of the T&T sector is all the more important as the T&T industry continues to play a key role as a driver of growth and job creation, growing at 4% in 2014 and providing 266 million jobs, directly and indirectly. This means that the industry now accounts for one in 11 jobs on the planet, a number that could even rise to one in 10 jobs by 2022, according to the WTTC."

The report contains analysis of:

Enabling Environment

• Business Environment
• Safety and Security
• Health and Hygiene
• Human Resources and Labor
• ICT Readiness

T&T Policy and Enabling Conditions

• Prioritization of Travel and Tourism
• International Openness
• Price Competitiveness
• Environmental Sustainability

Infrastructure

• Air Transport Infrastructure
• Ground and Port Infrastructure
• Tourist Service Infrastructure

Natural and Cultural Resources

• Natural Resources
• Cultural Resources and Business Travel

Click here to read the report in full.