WTTC’s world tourism trends in 2009 versus KPMG’s forecast

By: August 27, 2009

After writing my previous post about golf tourism I started to google for fresh data about world tourism and its impact on world economy and the golf industry. This how I found World Travel & Tourism Council findings:

The global tourism increased by 3.6% between 2004-2007. The decline (1%) has already started in 2008. Real GDP growth for the Travel & Tourism economy is expected to be -3.5% in 2009, down from -1.0% in 2008, but to average 4.0% per annual over the coming 10 years. The value of the Travel & Tourism industry in 2009 will be US$5,474 bn.

Unlike in KPMG's benchmark study, Spain's travel & tourism industry will suffer from -4.9% decline. This will likely to effect the local golf industry as well. The Portuguese travel & tourism industry is little bit luckier than the Spanish one, here the industry will decrease only by – 1.4% in 2009. The other "rising star" in KPMG study was the Middle East. Here the GDP growth for travel & tourism will decrease by 8.5%.

Well the situation is not so rosy, as we know. KPMG was a little bit hopeful regarding this year. I hope this year the new benchmark study will be more correct. I think it is not too late to start thinking about how we can maximize the domestic tourism.