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The Authority on World Travel & Tourism

Travel
& Tourism
Economic Impact 2015
British Virgin Islands
For more information, please contact:

Rochelle Turner
Head of Research
rochelle.turner@wttc.org

2015 World Travel & Tourism Council


Foreword
The World Travel & Tourism Council (WTTC) is the global authority on the
economic and social contribution of Travel & Tourism. WTTC promotes
sustainable growth for the sector, working with governments and international
institutions to create jobs, to drive exports and to generate prosperity.
Travel & Tourisms impact on the economic and social development of a country can be enormous; opening
it up for business, trade and capital investment, creating jobs and entrepreneurialism for the workforce and
protecting heritage and cultural values. To fully understand its impact, however, governments, policy makers
and businesses around the world require accurate and reliable data on the impact of the sector. Data is
needed to help assess policies that govern future industry development and to provide knowledge to help
guide successful and sustainable Travel & Tourism investment decisions.

For 25 years, WTTC has been quantifying the economic impact of Travel & Tourism. This year, the 2015
Annual Economic Reports cover 184 countries and 25 regions of the world, including, for the first time,
the Pacific Alliance.

Travel & Tourism generated US$7.6 trillion (10% of global GDP) and 277 million jobs (1 in 11 jobs) for the
global economy in 2014. Recent years have seen Travel & Tourism growing at a faster rate than both the
wider economy and other significant sectors such as automotive, financial services and health care. Last year
was no exception. International tourist arrivals also surged, reaching nearly 1.14billion and visitor spending
more than matched that growth. Visitors from emerging economies now represent a 46% share of these
international arrivals (up from 38% in 2000), proving the growth and increased opportunities for travel from
those in these new markets.

The sector faces challenges every year and this year is likely to be no different. The weakness and potential
volatility of many currencies against the US dollar and a deep recession in Russia, a key outbound market,
will slow outbound spending in line with slower world trade overall in 2015. However, falling oil prices will
bring significant improvements for net oil importers in 2015, easing upward pressure on living costs, increasing
disposable household incomes and domestic consumer spending, and lowering air fares. As a result, Travel &
Tourism expansion is forecast to continue at a stronger rate than last year, with the total contribution to GDP
expected to increase by 3.7%. New destinations and investment opportunities will also continue to emerge
as tourism becomes increasingly affordable across the developing world. This growth will require countries
to adopt a concerted and coordinated approach to talent planning and development between their industry,
governments and educational institutions to ensure they fulfil their potential in the years ahead.

WTTC is proud to continue to provide this clear and empirical data in order to help both public and private
bodies make the right decisions for the future growth of a sustainable Travel & Tourism sector.

David Scowsill
President & CEO
WTTC

WTTC Travel & Tourism Economic Impact 2015


Contents
The Economic Impact of Travel & Tourism 2015

Foreword

2015 Annual Research: Key Facts................................................1

Defining the Economic Contribution of Travel & Tourism..............2

Travel & Tourisms Contribution to GDP........................................3

Travel & Tourisms Contribution to Employment...........................4

Visitor Exports and Investment.....................................................5

Different Components of Travel & Tourism....................................6

Country Rankings: Absolute Contribution, 2014...........................7

Country Rankings: Relative Contribution, 2014............................8

Country Rankings: Real Growth, 2015..........................................9

Country Rankings: Long Term Growth, 2015-2025.....................10

Summary Tables: Estimates & Forecasts....................................11

The Economic Contribution of Travel & Tourism:


Real 2014 Prices.........................................................................12

The Economic Contribution of Travel & Tourism:


Nominal Prices............................................................................13

The Economic Contribution of Travel & Tourism: Growth...........14

Glossary......................................................................................15

Methodological Note...................................................................16

Regions, Sub-regions, Countries................................................17

Use of Material is Authorised, Provided Source is Acknowledged


Harlequin Building, 65 Southwark Street, London, SE1 0HR, UK Tel: +44 (0)20 7481 8007 Email: enquiries@wttc.org www.wttc.org
British Virgin Islands
1
2015 ANNUAL RESEARCH: KEY FACTS 2015
forecast

GDP: DIRECT CONTRIBUTION


The direct contribution of Travel & Tourism to GDP was US$290.3mn (30.3% of total GDP) in
2014, and is forecast to rise by 1.5% in 2015, and to rise by 2.7% pa, from 2015-2025, to
US$384.6mn (31.9% of total GDP) in 2025.

GDP: TOTAL CONTRIBUTION


The total contribution of Travel & Tourism to GDP was US$824.4mn (85.9% of GDP) in 2014,
and is forecast to rise by 1.5% in 2015, and to rise by 2.5% pa to US$1,070.5mn (88.8% of GDP)
in 2025.

EMPLOYMENT: DIRECT CONTRIBUTION


In 2014 Travel & Tourism directly supported 3,500 jobs (34.5% of total employment). This is
expected to remain unchanged in 2015 and rise by 0.5% pa to 4,000 jobs (33.7% of total
employment) in 2025.

EMPLOYMENT: TOTAL CONTRIBUTION


In 2014, the total contribution of Travel & Tourism to employment, including jobs indirectly
supported by the industry, was 94.5% of total employment (9,500 jobs). This is expected to rise
by 0.2% in 2015 to 9,500 jobs and rise by 0.5% pa to 10,000 jobs in 2025 (91.8% of total).

VISITOR EXPORTS
Visitor exports generated US$653.1mn (62.0% of total exports) in 2014. This is forecast to grow
by 1.6% in 2015, and grow by 2.8% pa, from 2015-2025, to US$877.0mn in 2025 (60.8% of
total).

INVESTMENT
Travel & Tourism investment in 2014 was US$40.0mn, or 17.2% of total investment. It should
rise by 3.6% in 2015, and rise by 1.7% pa over the next ten years to US$49.2mn in 2025 (15.8%
of total).
1All values are in constant 2014 prices & exchange rates

WORLD RANKING (OUT OF 184 COUNTRIES):


Relative importance of Travel & Tourism's total contribution to GDP

144 3 152 165


ABSOLUTE RELATIVE SIZE GROWTH LONG-TERM GROWTH
Size in 2014 Contribution to GDP in 2014 2015 forecast Forecast 2015-2025

Total Contribution of Breakdown of Travel & Tourism's Total


Travel & Tourism to GDP Contribution to GDP and Employment 2014
2014
2014US$mn
US$mn GDP (2014 US$mn)

1,200
130
1,000

800 404
Employment

600
290
('000)

400
3
5
200
1
0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015

2025
2025

Direct Indirect Induced


= Total contribution of Travel & Tourism

WTTC Travel & Tourism Economic Impact 2015 1


Defining the economic
contribution of Travel & Tourism

Travel & Tourism is an important economic activity in most countries around the world. As well as its direct economic
impact, the sector has significant indirect and induced impacts. The UN Statistics Division-approved Tourism Satellite
Accounting methodology (TSA:RMF 2008) quantifies only the direct contribution of Travel & Tourism. WTTC recognises
that Travel & Tourism's total contribution is much greater however, and aims to capture its indirect and induced
impacts through its annual research.

DIRECT CONTRIBUTION
The direct contribution of Travel & Tourism to GDP reflects the internal spending on Travel & Tourism (total spending
within a particular country on Travel & Tourism by residents and non-residents for business and leisure purposes) as
well as government 'individual' spending - spending by government on Travel & Tourism services directly linked to
visitors, such as cultural (eg museums) or recreational (eg national parks).

The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in
National Accounting, of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure
and recreation services that deal directly with tourists.The direct contribution of Travel & Tourism to GDP is calculated
from total internal spending by netting out the purchases made by the different tourism industries. This measure is
consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite Account: Recommended
Methodological Framework (TSA: RMF 2008).

TOTAL CONTRIBUTION
The total contribution of Travel & Tourism includes its wider impacts (ie the indirect and induced impacts) on the economy.
The indirect contribution includes the GDP and jobs supported by:

Travel & Tourism investment spending an important aspect of both current and future activity that includes
investment activity such as the purchase of new aircraft and construction of new hotels;

Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on
behalf of the community at large eg tourism marketing and promotion, aviation,
administration, security services, resort area security services, resort area sanitation services, etc;

Domestic purchases of goods and services by the sectors dealing directly with tourists - including, for example,
purchases of food and cleaning services by hotels, of fuel and catering services by airlines, and IT services by
travel agents.

The induced contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly
employed by the Travel & Tourism sector.

2 WTTC Travel & Tourism Economic Impact 2015


Travel & Tourism's
contribution to GDP1
The direct contribution of Travel & Tourism to GDP in 2014 was US$290.3mn (30.3% of GDP). This is forecast to
rise by 1.5% to US$294.7mn in 2015.This primarily reflects the economic activity generated by industries
such as hotels, travel agents, airlines and other passenger transportation services (excluding commuter
services). But it also includes, for example, the activities of the restaurant and leisure industries directly supported

The direct contribution of Travel & Tourism to GDP is expected to grow by 2.7% pa to US$384.6mn (31.9% of GDP)
by 2025.

BRITISH VIRGIN ISLANDS: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO GDP

Constant 2014 US$mn % of whole economy GDP


450 35.0

400
30.0
350
25.0
300

250 20.0

200 15.0

150
10.0
100
5.0
50

0 0.0

2025
2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2025
2025
2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2025

The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and
induced income impacts, see page 2) was US$824.4mn in 2014 (85.9% of GDP) and is expected to grow by
1.5% to US$836.6mn (85.5% of GDP) in 2015.
It is forecast to rise by 2.5% pa to US$1,070.5mn by 2025 (88.8% of GDP).

BRITISH VIRGIN ISLANDS: TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO GDP

Constant 2014 US$mn % of whole economy GDP

1,200 100.0

90.0
1,000
80.0

70.0
800
60.0
600 50.0

40.0
400
30.0

20.0
200
10.0

0 0.0
2014 2015 2025
2025
2025 2014 2015 2025
2025

Direct Indirect Induced Direct Indirect Induced

1
All values are in constant 2014 prices & exchange rates

WTTC Travel & Tourism Economic Impact 2015 3


Travel & Tourism's
contribution to employment
Travel & Tourism generated 3,500 jobs directly in 2014 (34.5% of total employment) and this is forecast to remain
the same in 2015 at 3,500 (34.2% of total employment).
This includes employment by hotels, travel agents, airlines and other passenger transportation services
(excluding commuter services). It also includes, for example, the activities of the restaurant and leisure industries
directly supported by tourists.

By 2025, Travel & Tourism will account for 4,000 jobs directly, an increase of 0.5% pa over the next ten years.

BRITISH VIRGIN ISLANDS: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT

'000 jobs % of whole economy employment

4.0 45.0

40.0
3.5

35.0
3.0
30.0
2.5
25.0
2.0
20.0
1.5
15.0

1.0 10.0

0.5 5.0

0.0 0.0
2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2025
2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2025

2025
2025

The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply
chain and induced income impacts, see page 2) was 9,500 jobs in 2014 (94.5% of total employment). This is
forecast to rise by 0.2% in 2015 to 9,500 jobs (93.7% of total employment).

By 2025, Travel & Tourism is forecast to support 10,000 jobs (91.8% of total employment), an increase of 0.5%
pa over the period.
BRITISH VIRGIN ISLANDS: TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT

'000 jobs % of whole economy employment

12.0 100.0

90.0
10.0
80.0

70.0
8.0
60.0

6.0 50.0

40.0
4.0 30.0

20.0
2.0
10.0

0.0 0.0
2014 2015 20252025 2014 2015 2025
2025
Direct Indirect Induced Direct Indirect Induced

4 WTTC Travel & Tourism Economic Impact 2015


Visitor Exports and Investment1
VISITOR EXPORTS
Money spent by foreign visitors to a country (or visitor exports) is a key component of the direct contribution of
Travel & Tourism. In 2014, British Virgin Islands generated US$653.1mn in visitor exports.
In 2015, this is expected to grow by 1.6%, and the country is expected to attract 433,000 international tourist
arrivals.

By 2025, international tourist arrivals are forecast to total 595,000, generating expenditure of US$877.0mn, an
increase of 2.8% pa.

BRITISH VIRGIN ISLANDS: VISITOR EXPORTS AND INTERNATIONAL TOURIST ARRIVALS

Constant 2014 US$mn mn Foreign visitor exports as % of total exports


1,000 700 70.0

900
600 60.0
800
700 500 50.0
600
400
500 40.0
300
400
30.0
300 200
200 20.0
100
100
0 0 10.0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015

2025
2025

0.0
2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2025
2025
Foreign visitor exports (LHS)
Foreign tourist arrivals (RHS)

INVESTMENT
Travel & Tourism is expected to have attracted capital investment of US$40.0mn in 2014. This is expected to
rise by 3.6% in 2015, and rise by 1.7% pa over the next ten years to US$49.2mn in 2025.

Travel & Tourisms share of total national investment will fall from 17.2% in 2015 to 15.8% in 2025.

BRITISH VIRGIN ISLANDS: CAPITAL INVESTMENT IN TRAVEL & TOURISM

Constant 2014 US$mn % of whole economy GDP

60 20.0

18.0
50 16.0

14.0
40
12.0

30 10.0

8.0
20
6.0

4.0
10
2.0

0 0.0
2025
2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2025

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2025
2025

1
All values are in constant 2014 prices & exchange rates

WTTC Travel & Tourism Economic Impact 2015 5


Different components of
Travel & Tourism1
British Virgin Islands
Travel & Tourism's Contribution to GDP:
Business vs Leisure, 2014 Leisure travel spending (inbound and domestic)
generated 97.4% of direct Travel & Tourism GDP
in 2014 (US$663.3mn) compared with 2.6% for
business travel spending (US$17.7mn).
Leisure spending

97.4%
Leisure travel spending is expected to grow by
1.6% in 2015 to US$674.2mn, and rise by 2.8% pa
Business spending to US$889.8mn in 2025.
2.6%
Business travel spending is expected to grow by
2.9% in 2015 to US$18.2mn, and rise by 2.3% pa
to US$22.9mn in 2025.

British Virgin Islands


Travel & Tourism's Contribution to GDP:
Domestic vs Foreign, 2014
Domestic travel spending generated 4.1% of direct
Travel & Tourism GDP in 2014 compared with
95.9% for visitor exports (ie foreign visitor
Foreign visitor spending
spending or international tourism receipts).
95.9%
Domestic travel spending is expected to grow by
Domestic spending
2.9% in 2015 to US$28.7mn, and rise by 2.2% pa
4.1% to US$35.7mn in 2025.

Visitor exports are expected to grow by 1.6% in


2015 to US$663.6mn, and rise by 2.8% pa to
US$877.0mn in 2025.

British Virgin Islands


Breakdown of Travel & Tourism's Total Contribution to GDP, 2014
The Travel & Tourism industry contributes to GDP
Direct
and employment in many ways as detailed on
page 2.
35.2%

Induced

15.7% The total contribution of Travel & Tourism to


GDP is its direct contribution.

Indirect

49.1%
Indirect is the sum of:
(a) Supply chain
42.7% a
(b) Investment c
4.1% b
(c) Government collective
2.3%
1
All values are in constant 2014 prices & exchange rates

6 WTTC Travel & Tourism Economic Impact 2015


Country rankings:
Absolute contribution, 2014

Travel & Tourism's Direct 2014 Travel & Tourism's Total 2014
Contribution to GDP (US$bn) Contribution to GDP (US$bn)

World Average 19.4 World Average 58.3


Americas Average 16.3 Americas Average 47.6
67 Dominican Republic 3.1 60 Dominican Republic 10.1
80 Cuba 2.0 67 Cuba 8.2
88 Bahamas 1.7 92 Jamaica 3.9
99 Jamaica 1.2 93 Bahamas 3.8
117 Trinidad and Tobago 0.8 111 Aruba 2.3
118 Aruba 0.8 114 Trinidad and Tobago 2.0
131 Barbados 0.5 126 Barbados 1.7
141 British Virgin Islands 0.3 144 British Virgin Islands 0.8
172 Anguilla 0.1 170 Grenada 0.2
174 Grenada 0.1 172 Anguilla 0.2

Travel & Tourism's Direct 2014 Travel & Tourism's Total 2014
Contribution to Employment '000 jobs Contribution to Employment '000 jobs

World Average 827.0 World Average 2076.6


Americas Average 366.9 Americas Average 943.1
61 Dominican Republic 187.9 51 Dominican Republic 624.0
78 Cuba 124.4 60 Cuba 494.6
97 Jamaica 82.4 90 Jamaica 277.2
110 Bahamas 51.2 119 Bahamas 98.1
135 Trinidad and Tobago 27.4 133 Trinidad and Tobago 72.7
146 Aruba 16.4 147 Aruba 45.8
151 Barbados 14.0 148 Barbados 45.1
174 British Virgin Islands 3.5 172 Grenada 10.6
176 Grenada 3.1 174 British Virgin Islands 9.4
183 Anguilla 1.6 184 Anguilla 4.7

Travel & Tourism 2014 Visitor 2014


Capital Investment (US$bn) Exports (US$bn)

Americas Average 4.9 World Average 7.5


World Average 4.5 Americas Average 6.6
61 Cuba 1.2 48 Dominican Republic 5.9
87 Dominican Republic 0.5 67 Cuba 2.7
91 Bahamas 0.4 71 Bahamas 2.3
99 Trinidad and Tobago 0.3 72 Jamaica 2.2
101 Jamaica 0.3 91 Aruba 1.6
122 Aruba 0.2 107 Barbados 1.0
134 Barbados 0.2 115 Trinidad and Tobago 0.8
160 British Virgin Islands 0.0 121 British Virgin Islands 0.7
170 Grenada 0.0 158 Anguilla 0.1
181 Anguilla 0.0 162 Grenada 0.1

The tables on pages 7-10 provide provide brief extracts from the full WTTC Country League Table Rankings, highlighting comparisons with
competing destinations as well as with the world and regional average. Averages in above tables are simple cross-country averages.
The competing destinations selected are those that offer a similar tourism product and compete for tourists from the same set of origin markets.
These tend to be, but are not exclusively, geographical neighbours.

WTTC Travel & Tourism Economic Impact 2015 77


Country rankings:
Relative contribution, 2014

Travel & Tourism's Direct 2014 Travel & Tourism's Total 2014
Contribution to GDP % share Contribution to GDP % share

3 British Virgin Islands 30.3 1 Aruba 88.4


4 Aruba 28.6 3 British Virgin Islands 85.9
6 Anguilla 21.0 5 Anguilla 61.2
7 Bahamas 19.4 10 Bahamas 43.6
21 Barbados 10.8 15 Barbados 36.1
27 Jamaica 8.1 22 Jamaica 27.2
35 Grenada 7.0 26 Grenada 24.2
55 Dominican Republic 5.0 43 Dominican Republic 16.0
96 Trinidad and Tobago 3.2 77 Cuba 10.4
World 3.1 World 9.8
Americas 2.9 106 Trinidad and Tobago 8.7
124 Cuba 2.6 Americas 8.4

Travel & Tourism's Direct 2014 Travel & Tourism's Total 2014
Contribution to Employment % share Contribution to Employment % share

2 British Virgin Islands 34.5 1 British Virgin Islands 94.5


3 Aruba 32.5 2 Aruba 90.8
5 Bahamas 27.0 4 Anguilla 63.4
7 Anguilla 22.4 8 Bahamas 51.6
19 Barbados 11.1 14 Barbados 35.7
34 Jamaica 7.3 22 Jamaica 24.7
39 Grenada 6.4 28 Grenada 22.1
68 Dominican Republic 4.4 49 Dominican Republic 14.7
69 Trinidad and Tobago 4.4 68 Trinidad and Tobago 11.6
Americas 3.7 Americas 9.6
World 3.6 88 Cuba 9.6
133 Cuba 2.4 World 9.4

Travel & Tourism Investment 2014 Visitor Exports 2014


Contribution to Total Capital Investment % share Contribution to Total Exports % share

5 Aruba 31.0 2 Anguilla 86.5


11 Barbados 21.3 6 Aruba 66.9
15 Bahamas 18.3 9 British Virgin Islands 62.0
22 British Virgin Islands 17.2 10 Bahamas 61.5
28 Cuba 15.5 18 Jamaica 52.9
31 Grenada 13.7 19 Barbados 50.8
33 Anguilla 13.2 22 Grenada 47.8
39 Jamaica 11.4 31 Dominican Republic 35.1
41 Trinidad and Tobago 10.7 65 Cuba 15.9
90 Dominican Republic 5.1 Americas 7.0
Americas 4.5 World 5.7
World 4.3 120 Trinidad and Tobago 5.1

8 WTTC Travel & Tourism Economic Impact 2015


Country rankings:
Real growth, 2015

Travel & Tourism's Direct 2015 Travel & Tourism's Total 2015
Contribution to GDP % growth Contribution to GDP % growth

18 Bahamas 6.7 19 Bahamas 6.3


61 Jamaica 4.7 67 Jamaica 4.1
79 Cuba 3.9 World 3.7
World 3.7 82 Cuba 3.7
Americas 3.2 Americas 3.3
109 Anguilla 3.0 94 Aruba 3.2
110 Aruba 3.0 98 Anguilla 3.2
129 Trinidad and Tobago 2.6 114 Dominican Republic 2.7
130 Grenada 2.5 123 Trinidad and Tobago 2.5
134 Dominican Republic 2.3 131 Grenada 2.4
146 Barbados 1.8 141 Barbados 1.8
152 British Virgin Islands 1.5 152 British Virgin Islands 1.5

Travel & Tourism's Direct 2015 Travel & Tourism's Total 2015
Contribution to Employment % growth Contribution to Employment % growth

26 Bahamas 5.0 16 Bahamas 5.0


32 Jamaica 4.7 30 Jamaica 4.2
Americas 2.7 Americas 2.9
82 Grenada 2.4 World 2.6
88 Barbados 2.2 68 Aruba 2.5
World 2.0 87 Barbados 2.1
99 Cuba 2.0 88 Grenada 2.1
113 Anguilla 1.3 107 Cuba 1.6
116 Aruba 1.2 110 Dominican Republic 1.5
118 Dominican Republic 1.2 113 Trinidad and Tobago 1.4
127 Trinidad and Tobago 1.0 114 Anguilla 1.4
152 British Virgin Islands 0.1 149 British Virgin Islands 0.2

Travel & Tourism 2015 Visitor 2015


Investment % growth Exports % growth

48 Dominican Republic 6.7 18 Bahamas 7.8


84 Barbados 4.9 55 Jamaica 5.2
World 4.8 61 Cuba 5.0
Americas 4.8 97 Trinidad and Tobago 3.1
89 Aruba 4.8 101 Aruba 2.9
107 Bahamas 4.1 103 Anguilla 2.9
108 Anguilla 4.1 World 2.8
109 Trinidad and Tobago 4.1 120 Grenada 2.2
115 British Virgin Islands 3.6 127 Barbados 1.9
125 Cuba 2.9 131 Dominican Republic 1.7
132 Grenada 2.7 132 British Virgin Islands 1.6
158 Jamaica 1.3 Americas 1.4

WTTC Travel & Tourism Economic Impact 2015 9 7


Country rankings:
Long term growth, 2015 - 2025

Travel & Tourism's Direct 2015 - 2025 Travel & Tourism's Total 2015 - 2025
Contribution to GDP % growth pa Contribution to GDP % growth pa

68 Jamaica 4.6 80 Jamaica 4.3


79 Cuba 4.4 81 Cuba 4.3
94 Grenada 4.1 99 Grenada 4.0
World 3.9 World 3.8
Americas 3.8 Americas 3.5
128 Bahamas 3.5 127 Bahamas 3.5
137 Barbados 3.3 130 Barbados 3.4
153 Anguilla 2.9 146 Anguilla 3.0
156 Dominican Republic 2.8 153 Dominican Republic 2.8
160 Aruba 2.7 156 Aruba 2.7
162 British Virgin Islands 2.7 165 British Virgin Islands 2.5
179 Trinidad and Tobago 2.1 175 Trinidad and Tobago 2.3

Travel & Tourism's Direct 2015 - 2025 Travel & Tourism's Total 2015 - 2025
Contribution to Employment % growth pa Contribution to Employment % growth pa

13 Jamaica 4.2 15 Jamaica 3.9


70 Grenada 2.5 World 2.3
81 Dominican Republic 2.3 70 Dominican Republic 2.2
Americas 2.1 80 Grenada 2.1
World 2.0 Americas 2.0
108 Bahamas 1.9 98 Bahamas 1.9
110 Barbados 1.8 102 Barbados 1.8
147 Cuba 0.9 156 Cuba 0.6
161 Anguilla 0.6 158 Trinidad and Tobago 0.5
162 British Virgin Islands 0.5 160 Anguilla 0.5
174 Trinidad and Tobago -0.1 162 British Virgin Islands 0.5
177 Aruba -0.4 163 Aruba 0.5

Travel & Tourism Investment 2015 - 2025 Visitor Exports 2015 - 2025
Contribution to Capital Investment % growth pa Contribution to Exports % growth pa

37 Barbados 5.8 44 Jamaica 5.4


40 Jamaica 5.6 50 Cuba 5.2
59 Cuba 5.1 81 Grenada 4.4
World 4.6 World 4.2
83 Grenada 4.5 Americas 4.0
Americas 4.2 105 Bahamas 3.9
122 Dominican Republic 3.6 125 Barbados 3.5
134 Anguilla 3.3 144 British Virgin Islands 2.8
135 Bahamas 3.3 146 Anguilla 2.8
144 Aruba 3.0 152 Aruba 2.8
162 Trinidad and Tobago 2.4 159 Dominican Republic 2.6
174 British Virgin Islands 1.7 164 Trinidad and Tobago 2.4

10 WTTC Travel & Tourism Economic Impact 2015


Summary tables:
Estimates & Forecasts

2014 2014 2015 2025


1
British Virgin Islands US$mn % of total Growth2 US$mn1 % of total Growth
3

Direct contribution to GDP 290.3 30.3 1.5 384.6 31.9 2.7

Total contribution to GDP 824.4 85.9 1.5 1,070.5 88.8 2.5


4
Direct contribution to employment 3.5 34.5 0.1 3.6 33.7 0.5
4
Total contribution to employment 9.4 94.5 0.2 9.9 91.8 0.5

Visitor exports 653.1 61.9 1.6 877.0 60.8 2.8

Domestic spending 27.9 2.9 2.9 35.7 3.0 2.2

Leisure spending 663.3 29.3 1.6 889.8 31.0 2.8

Business spending 17.7 0.8 2.9 22.9 0.8 2.3

Capital investment 40.0 17.2 3.6 49.2 15.8 1.7


1
2014 constant prices & exchange rates; 22015 real growth adjusted for inflation (%); 32015-2025 annualised real growth adjusted for inflation (%); 4'000 jobs

2014 2014 2015 2025


1 1
2 3
Americas US$bn % of total Growth US$bn % of total Growth

Direct contribution to GDP 734.0 2.9 3.2 1,098.5 3.2 3.8

Total contribution to GDP 2,141.2 8.4 3.3 3,109.1 9.2 3.5


4
Direct contribution to employment 16,509 3.7 2.7 20,763 4.1 2.1
4
Total contribution to employment 42,440 9.6 2.9 53,330 10.6 2.0

Visitor exports 298.3 7.0 1.4 447.8 6.3 4.0

Domestic spending 1,164.4 4.6 3.2 1,736.6 5.1 3.8

Leisure spending 1,094.1 2.1 2.8 1,683.1 2.4 4.1

Business spending 368.5 0.7 3.0 501.2 0.7 2.8

Capital investment 222.3 4.5 4.8 350.3 4.6 4.2


1 2 3 4
2014 constant prices & exchange rates; 2015 real growth adjusted for inflation (%); 2015-2025 annualised real growth adjusted for inflation (%); '000 jobs

2014 2014 2015 2025


1 1
2 3
Worldwide US$bn % of total Growth US$bn % of total Growth

Direct contribution to GDP 2,364.8 3.1 3.7 3,593.2 3.3 3.9

Total contribution to GDP 7,580.9 9.8 3.7 11,381.9 10.5 3.8

Direct contribution to employment4 105,408 3.6 2.0 130,694 3.9 2.0


4
Total contribution to employment 276,845 9.4 2.6 356,911 10.7 2.3

Visitor exports 1,383.8 5.7 2.8 2,140.1 5.6 4.2

Domestic spending 3,642.1 4.7 3.7 5,465.0 5.0 3.8

Leisure spending 3,850.2 2.3 3.3 5,928.8 2.5 4.1

Business spending 1,175.7 0.7 4.0 1,679.0 0.7 3.2

Capital investment 814.4 4.3 4.8 1,336.4 4.9 4.6


1
2014 constant prices & exchange rates; 22015 real growth adjusted for inflation (%); 32015-2025 annualised real growth adjusted for inflation (%); 4'000 jobs

% of total refers to each indicator's share of the relevant whole economy indicator such as GDP and employment. Visitor exports is shown relative to total exports of goods and
Domestic spending is expressed relative to whole economy GDP. For leisure and business spending, their direct contribution to Travel & Tourism GDP is calculated as a share of
whole economy GDP (the sum of these shares equals the direct contribution). Investment is relative to whole economy investment.

WTTC Travel & Tourism Economic Impact 2015 11


The economic contribution of
Travel & Tourism: Real 2014 prices

British Virgin Islands

(US$mn, real 2014 prices) 2009 2010 2011 2012 2013 2014 2015E 2025F

1. Visitor exports 563.8 645.3 628.6 642.1 643.7 653.1 663.6 877.0

Domestic expenditure
2. 29.2 30.4 29.8 27.7 27.6 27.9 28.7 35.7
(includes government individual spending)

3. Internal tourism consumption


593.0 675.7 658.4 669.8 671.3 681.0 692.4 912.7
(= 1 + 2 )

4. Purchases by tourism providers,

including imported goods -341.3 -392.4 -378.8 -384.1 -384.9 -390.7 -397.7 -528.2

(supply chain)

5. Direct contribution of
Travel & Tourism to GDP 251.7 283.3 279.6 285.6 286.4 290.3 294.7 384.6
(= 3 + 4)

Other final impacts

(indirect & induced) 307.1 345.9 341.4 348.8 349.7 354.5 359.8 469.6

6. Domestic supply chain

7. Capital investment 41.7 36.4 34.1 35.3 36.9 40.0 41.4 49.2

8. Government collective spending 20.5 20.7 20.2 19.1 19.1 19.3 19.8 25.4

9. Imported goods from indirect spending -20.9 -14.8 -14.0 -8.9 -8.9 -9.3 -9.8 -14.4

10. Induced 111.7 125.1 123.3 126.7 127.8 129.6 130.7 156.1

11. Total contribution of


Travel & Tourism to GDP 711.9 796.6 784.6 806.6 811.0 824.4 836.6 1,070.5
(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

12. Direct contribution of Travel & Tourism to 2.8 2.9 3.0 3.3 3.4 3.5 3.5 3.6
employment

Total contribution of Travel & Tourism


13. 7.6 8.0 8.1 9.1 9.2 9.4 9.5 9.9
to employment

Other indicators
77.2 79.9 82.9 83.9 83.8 85.1 86.8 111.4
14. Expenditure on outbound travel

12 WTTC Travel & Tourism Economic Impact 2015


The economic contribution of
Travel & Tourism: Nominal prices

British Virgin Islands

(US$mn, nominal prices) 2009 2010 2011 2012 2013 2014 2015E 2025F

1. Visitor exports 492.4 567.8 575.9 611.7 629.2 653.1 677.6 1,144.0

Domestic expenditure
2. 25.5 26.8 27.3 26.4 27.0 27.9 29.3 46.6
(includes government individual spending)

3. Internal tourism consumption


517.9 594.6 603.1 638.1 656.1 681.0 706.9 1,190.6
(= 1 + 2 )

4. Purchases by tourism providers,

including imported goods -298.1 -345.3 -347.0 -366.0 -376.2 -390.7 -406.0 -688.9

(supply chain)

5. Direct contribution of
Travel & Tourism to GDP 219.8 249.3 256.2 272.1 279.9 290.3 300.9 501.6
(= 3 + 4)

Other final impacts

(indirect & induced) 268.3 304.4 312.8 332.2 341.8 354.5 367.4 612.5

6. Domestic supply chain

7. Capital investment 36.4 32.1 31.2 33.6 36.1 40.0 42.3 64.2

8. Government collective spending 17.9 18.2 18.5 18.2 18.6 19.3 20.2 33.2

9. Imported goods from indirect spending -18.2 -13.0 -12.8 -8.5 -8.7 -9.3 -10.0 -18.7

10. Induced 97.6 110.1 112.9 120.7 124.9 129.6 133.5 203.6

11. Total contribution of


Travel & Tourism to GDP 621.8 701.0 718.8 768.4 792.7 824.4 854.2 1,396.4
(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

12. Direct contribution of Travel & Tourism to 2.8 2.9 3.0 3.3 3.4 3.5 3.5 3.6
employment

Total contribution of Travel & Tourism


13. 7.6 8.0 8.1 9.1 9.2 9.4 9.5 9.9
to employment

Other indicators
67.4 70.3 75.9 79.9 81.9 85.1 88.6 145.4
14. Expenditure on outbound travel

*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended
Methodological Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Office
of the European Communities (EUROSTAT), the Organisation for Economic Co-operation and Development (OECD) and the World Tourism
Organization (UNWTO).

Historical data for concepts has been benchmarked to match reported TSA data where available.

WTTC Travel & Tourism Economic Impact 2015 13


The economic contribution of
Travel & Tourism: Growth

British Virgin Islands


2
Growth1 (%) 2009 2010 2011 2012 2013 2014 2015E 2025F

1. Visitor exports 3.0 14.5 -2.6 2.1 0.2 1.5 1.6 2.8

Domestic expenditure
2. 3.6 4.2 -2.1 -7.1 -0.3 1.1 2.9 2.2
(includes government individual spending)

3. Internal tourism consumption


3.1 13.9 -2.6 1.7 0.2 1.4 1.7 2.8
(= 1 + 2 )

4. Purchases by tourism providers,

including imported goods 3.0 15.0 -3.5 1.4 0.2 1.5 1.8 2.9

(supply chain)

5. Direct contribution of
Travel & Tourism to GDP 3.1 12.6 -1.3 2.1 0.3 1.4 1.5 2.7
(= 3 + 4)

Other final impacts

(indirect & induced) 3.1 12.6 -1.3 2.1 0.3 1.4 1.5 2.7

6. Domestic supply chain

7. Capital investment 16.7 -12.6 -6.4 3.6 4.5 8.3 3.6 1.7

8. Government collective spending 2.5 0.7 -2.3 -5.5 -0.1 1.4 2.4 2.5

9. Imported goods from indirect spending 27.6 -4.7 -2.6 -9.4 0.2 2.0 2.3 3.0

10. Induced 2.2 12.0 -1.5 2.8 0.9 1.4 0.8 1.8

11. Total contribution of


Travel & Tourism to GDP 2.2 11.9 -1.5 2.8 0.5 1.7 1.5 2.5
(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

12. Direct contribution of Travel & Tourism to -19.0 3.9 1.0 11.8 1.2 2.3 0.1 0.5
employment

Total contribution of Travel & Tourism


13. -17.7 4.9 1.0 11.9 1.6 2.5 0.2 0.5
to employment

Other indicators
27.0 3.5 3.8 1.2 -0.1 1.5 2.1 2.5
14. Expenditure on outbound travel

1 2
2009-2014 real annual growth adjusted for inflation (%); 2015-2025 annualised real growth adjusted for inflation (%)

14 WTTC Travel & Tourism Economic Impact 2015


Glossary
Key Definitions Indirect and Induced Impacts
Travel & Tourism relates to the activity of travellers on trips Indirect contribution the contribution to GDP and jobs of the
outside their usual environment with a duration of less than one following three factors:
year. Economic activity related to all aspects of such trips is
Capital investment includes capital investment spending
measured within the research.
by all industries directly involved in Travel & Tourism. This also
Direct contribution to GDP GDP generated by industries that constitutes investment spending by other industries on specific
deal directly with tourists, including hotels, travel agents, airlines tourism assets such as new visitor accommodation and
and other passenger transport services, as well as the activities of passenger transport equipment, as well as restaurants and leisure
restaurant and leisure industries that deal directly with tourists. It is facilities for specific tourism use. This is consistent with total
equivalent to total internal Travel & Tourism spending (see below) tourism gross fixed capital formation in table 8 of the TSA:
within a country less the purchases made by those industries RMF 2008.
(including imports). In terms of the UNs Tourism Satellite Account
Government collective spending government spending in
methodology it is consistent with total GDP calculated in table 6 of
support of general tourism activity. This can include national as
the TSA: RMF 2008.
well as regional and local government spending. For example,
Direct contribution to employment the number of direct jobs it includes tourism promotion, visitor information services,
within Travel & Tourism. This is consistent with total employment administrative services and other public services. This is
calculated in table 7 of the TSA: RMF 2008. consistent with total collective tourism consumption in table
9 of TSA: RMF 2008.
Total contribution to GDP GDP generated directly by the Travel
& Tourism sector plus its indirect and induced impacts (see below). Supply-chain effects purchases of domestic goods and
services directly by different industries within Travel & Tourism
Total contribution to employment the number of jobs
as inputs to their final tourism output.
generated directly in the Travel & Tourism sector plus the indirect
and induced contributions (see below). Induced contribution the broader contribution to GDP and
employment of spending by those who are directly or indirectly
Direct Spending Impacts
employed by Travel & Tourism.
Visitor exports spending within the country by international
tourists for both business and leisure trips, including spending Other Indicators
on transport, but excluding international spending on education. Outbound expenditure spending outside the country by
This is consistent with total inbound tourism expenditure in residents on all trips abroad. This is fully aligned with total outbound
table 1 of the TSA: RMF 2008. tourism expenditure in table 3 of the TSA: RMF 2008.

Domestic Travel & Tourism spending spending within a Foreign visitor arrivals the number of arrivals of foreign visitors,
country by that countrys residents for both business and leisure including same-day and overnight visitors (tourists) to the country.
trips. Multi-use consumer durables are not included since they
are not purchased solely for tourism purposes. This is consistent
with total domestic tourism expenditure in table 2 of the TSA: RMF
2008. Outbound spending by residents abroad is not included
here, but is separately identified according to the TSA: RMF 2008
(see below).

Government individual spending spending by government on


Travel & Tourism services directly linked to visitors, such as cultural
services (eg museums) or recreational services (eg national parks).

Internal tourism consumption total revenue generated within a


country by industries that deal directly with tourists including visitor
exports, domestic spending and government individual spending.
This does not include spending abroad by residents. This is
consistent with total internal tourism expenditure in table 4 of the
TSA: RMF 2008.

Business Travel & Tourism spending spending on business


travel within a country by residents and international visitors.

Leisure Travel & Tourism spending spending on leisure travel


within a country by residents and international visitors.

WTTC Travel & Tourism Economic Impact 2015 15


Methodological note
WTTC has an on-going commitment to align its economic impact research with the UN Statistics Division-approved 2008 Tourism Satellite
Account: Recommended Methodological Framework (TSA:RMF 2008). This involves benchmarking of country reports to official, published
TSAs, including for countries which are reporting data for the first time, as well as existing countries reporting an additional years data. New
country TSAs incorporated this year include France, Germany, Japan, Malaysia, Mexico, Oman, Qatar and Saudi Arabia.
In addition to producing data on 184 countries, WTTC also produces reports on 24 other regions, sub-regions and economic and
geographic groups. This year, there are 8 reports for special economic and geographic groups with Pacific Alliance being included for the first
time. Please also note that from this year, the report for Sudan no longer includes data on South Sudan.

Economic and Geographic Groups


APEC (Asia-Pacific Economic Cooperation) OAS (Organization of American States)
Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Argentina, Antigua and Barbuda, Bahamas, Barbados, Belize,
Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Cuba,
Guinea, Peru, Philippines, Russian Federation, Singapore, Taiwan, Dominican Republic, Dominica, Ecuador, El Salvador, Grenada,
Thailand, USA, Vietnam. Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, St Kitts
and Nevis, Nicaragua, Panama, Paraguay, Peru, St Lucia,
The Commonwealth
St Vincent and the Grenadines, Suriname, Trinidad and Tobago,
Anguilla, Antigua and Barbuda, Australia, Bahamas, Bangladesh,
USA, Uruguay.
Barbados, Belize, Bermuda, Botswana, Brunei, Cameroon,
Canada, Cayman Islands, Cyprus, Dominica, Ghana, Grenada, OECD (Organisation for Economic
Guyana, India, Jamaica, Kenya, Kiribati, Lesotho, Malawi, Co-Operation and Development)
Malaysia, Maldives, Malta, Mauritius, Mozambique, Namibia, Australia, Austria, Belgium, Canada, Chile, Czech Republic,
Nigeria, New Zealand, Pakistan, Papua New Guinea, Rwanda, Denmark, Estonia, Finland, France, Germany, Greece, Hungary,
South Africa, Seychelles, Sierra Leone, Singapore, Solomon Iceland, Ireland, Israel, Italy, Japan, South Korea, Luxembourg,
Islands, Sri Lanka, St Kitts and Nevis, St Lucia, St Vincent and the Mexico, Netherlands, New Zealand, Norway, Poland, Portugal,
Grenadines, Swaziland, Tanzania, Tonga, Trinidad and Tobago, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey,
Uganda, UK, British Virgin Islands, Vanuatu, Zambia. UK, USA.

Former Netherlands Antilles Other Oceania


Bonaire, Curacao, Sint Maarten, Saba and Sint Eustatius. American Samoa, Cook Islands, French Polynesia, Guam,
Marshall Islands, Micronesia (Federated States of), New
G20
Caledonia, Niue, Northern Mariana Islands, Palau, Samoa, Tuvalu.
Argentina, Australia, Brazil, Canada, China, European Union,
France*, Germany*, India, Indonesia, Italy*, Japan, Mexico, Pacific Alliance
Russian Federation, Saudi Arabia, South Africa, South Korea, Chile, Colombia, Mexico, Peru.
Turkey, UK*, USA.
SADC (Southern African Development
META (Mediterranean Travel Association) Community)
Albania, Algeria, Bosnia Herzegovina, Croatia, Cyprus, Egypt, Angola, Botswana, Democratic Republic of Congo (DRC), Lesotho,
France, Greece, Israel, Italy, Jordan, Lebanon, Libya, Macedonia, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles,
Malta, Montenegro, Morocco, Portugal, Serbia, Slovenia, Spain, South Africa, Swaziland, Tanzania, Zambia, Zimbabwe.
Syria, Tunisia, Turkey. *included in European Union

16 WTTC Travel & Tourism Economic Impact 2015


Economic impact reports:
Regions, sub-regions and countries
WORLD

Sub- Sub- Sub- Sub-


Region Country Region region Country Region Country Region Country
region region region

Algeria Anguilla Japan Lithuania


Antigua & China

NORTHEAST Asia
Egypt Luxembourg
Africa
North

Barbuda
Libya Hong Kong Malta
Aruba
Morocco South Korea
Bahamas Netherlands

European Union
Tunisia Macau
Barbados Poland
Angola Taiwan
Bermuda Portugal
Benin Mongolia
Cayman Islands Romania
Botswana Australia
Cuba Slovakia
Burkina Faso New Zealand
Former
Netherlands Slovenia
Burundi Fiji
Antilles Spain
Cameroon Kiribati

Oceania
Dominica
Cape Verde Other Oceania Sweden
Caribbean

Dominican
Central African Republic Papua UK
Republic New Guinea
Grenada Albania
Chad Solomon Islands
Guadeloupe
Armenia
Asia-PACIFIC

Comoros Tonga
Haiti
Democratic Vanuatu Azerbaijan
Republic of Congo Jamaica

Europe
Bangladesh Belarus
Ethiopia Martinique
India Bosnia
South Asia

Gabon Puerto Rico


Maldives Herzegovina
Gambia St Kitts & Nevis
Nepal Georgia
Ghana St Lucia
St Vincent & the Pakistan Iceland
Guinea
Grenadines Sri Lanka

Other Europe
Kazakhstan
Ivory Coast
Trinidad &
Brunei Kyrgyzstan
Americas

Kenya Tobago
Africa

Cambodia Macedonia
Lesotho UK Virgin Islands
Indonesia Moldova
US Virgin Islands
SUB-SAHARAN

Madagascar
SouthEast Asia

Laos Montenegro
Malawi Argentina
Malaysia Norway
Mali Belize
Myanmar
Mauritius Bolivia Russian
Philippines Federation
Mozambique Brazil
Singapore Serbia
Namibia Chile
Thailand Switzerland
Niger Colombia
Nigeria Vietnam Turkey
Costa Rica
Republic of Congo Austria Ukraine
El Salvador
Latin America

Reunion Belgium Uzbekistan


Ecuador
Rwanda Bulgaria Bahrain
Guatemala
Sao Tome & Croatia Iran
Principe Guyana
Cyprus Iraq
Senegal Honduras
Czech Republic
Israel
European Union

Seychelles Nicaragua
Denmark
Sierra Leone Jordan
Panama
Europe

Estonia
Middle East

South Africa Kuwait


Paraguay Finland
Sudan Lebanon
Peru France
Swaziland Suriname Oman
Germany
Tanzania Uruguay Qatar
Greece
Togo Venezuela Hungary Saudi Arabia

Uganda Canada Ireland Syria


America
North

Zambia Mexico Italy UAE

Zimbabwe USA Latvia Yemen

WTTC Travel & Tourism Economic Impact 2015 17


The World Travel & Tourism Council is
the global authority on the economic and
social contribution of Travel & Tourism.
WTTC promotes sustainable growth for the sector, working with governments and
international institutions to create jobs, to drive exports and to generate prosperity. Council
Members are the Chairs, Presidents and Chief Executives of the worlds leading, private sector
Travel & Tourism businesses.

Together with its research partner, Oxford Economics, WTTC produces annual research that
shows Travel & Tourism to be one of the worlds largest sectors, supporting over 276 million
jobs and generating 9.8% of global GDP in 2014. Comprehensive reports quantify, compare and
forecast the economic impact of Travel & Tourism on 184 economies around the world. In addition
to the individual country reports, WTTC produces a world report highlighting global trends and 24
further reports that focus on regions, sub-regions and economic and geographic groups.

To download reports or data, please visit www.wttc.org

Assisting WTTC to Provide Tools for Analysis,


Benchmarking, Forecasting and Planning.
Over the last 33 years, Oxford Economics has built a diverse and loyal client base of over 800
international organisations, including leading multinational companies and financial institutions;
key government bodies and trade associations; and top universities, consultancies, and think
tanks. Headquartered in Oxford, England, with regional centres in London, New York and
Singapore, Oxford Economics has offices across the globe in Belfast, Chicago, Dubai, Miami,
Milan, Paris, Philadelphia, San Francisco, and Washington DC. The company employs over 140
full-time people, including more than 90 professional economists, industry experts and business
editors one of the largest teams of macroeconomists and thought leadership specialists
underpinned by our heritage with Oxford University and the academic community including a
contributor network of over 500 economists, analysts and journalists around the world.

For more information, please take advantage of a free trial on our website,
www.oxfordeconomics.com or contact Frances Nicholls, Director of Business Development,
Oxford Economics Ltd, Broadwall House, 21 Broadwall, London SE1 9PL.
Email: fnicholls@oxfordeconomics.com

18 WTTC Travel & Tourism Economic Impact 2015


CHAIRMAN OUTRIGGER ENTERPRISES COSTA CRUISES INDIAN HOTELS COMPANY TAP PORTUGAL AMBASSADOR HOTEL GROUP
GROUP Michael Thamm LTD Fernando Pinto Jung-Ho Suh
TUI DEUTSCHLAND GMBH & Richard R Kelley CEO Rakesh K Sarna CEO Chairman
TUIFLY GMBH Chairman Emeritus Managing Director & CEO
Dr Michael Frenzel CORPORATE TRAVEL TRAVEL LEADERS GROUP APPLE LEISURE GROUP
Chairman of the Supervisory REVOLUTION PLACES, LLC SERVICES INTERNATIONAL AIRLINES Michael Batt
Philippe Bourguignon Alex Zozaya
Boards Jos Luis Castro GROUP Founder & Chairman
Vice Chairman Founder & CEO Chairman & CEO
Willie Walsh
Chief Executive TURKISH AIRLINES
ROYAL CARIBBEAN CRUISES CROWN LIMITED Temel Kotil COCHA TRAVEL
PRESIDENT & CEO Richard D Fain Rowen Craigie CEO Mario Fuenzalida
JAPAN AIRLINES CO. LTD
Chairman & CEO Managing Director & CEO CEO
Masaru Onishi
WORLD TRAVEL & TOURISM Chairman UNITED AIRLINES
COUNCIL SABRE HOLDINGS CTRIP.COM INTERNATIONAL Jeff Smisek DESPEGAR
David Scowsill Tom Klein FAN Min KERZNER INTERNATIONAL President & CEO Roberto Souviron
President & CEO Vice Chairman of the Board and Alan Leibman Jim Compton CEO
President Vice Chairman & Chief Revenue
SHUN TAK HOLDINGS LIMITED CEO
VICE CHAIRMEN Pansy Ho Officer DIETHELM TRAVEL
DALLAS FORT WORTH
Managing Director KUONI TRAVEL HOLDING LTD Maarten Groeneveld
AIRPORT
BEIJING TOURISM GROUP Peter Meier VALUE RETAIL CEO
Sean Donohue
DUAN Qiang TRAVELPORT CEO Desiree Bollier
CEO
Chairman Gordon Wilson CEO
DOURO AZUL
President & CEO LAS VEGAS SANDS CORP.
DFS GROUP Mrio Ferreira
ETIHAD AIRWAYS Robert Goldstein VIRTUOSO
Philippe Schaus President & CEO
James Hogan TSOGO SUN GROUP President and Chief Operating Matthew D Upchurch CTC
Chairman & CEO
CEO Marcel von Aulock Officer CEO
CEO EL CID RESORTS
DEPARTMENT OF TOURISM
LEBUA HOTELS & RESORTS ZAGAT SURVEY LLC Carlos Berdegu
HILTON WORLDWIDE & COMMERCE MARKETING,
VISITBRITAIN Narawadee Bualert Tim Zagat CEO
Christopher J Nassetta GOVERNMENT OF DUBAI
Christopher Rodrigues, CBE President Co-Founder, Co-Chair & CEO
President & CEO H.E. Helal Saeed Khalfan Al
Chairman GRUPO MASO
Marri Deepak Ohri
JUMEIRAH GROUP Director General CEO Esteban Torbar
WYNDHAM WORLDWIDE
Gerald Lawless Stephen P Holmes INDUSTRY PARTNERS CEO
President & Group CEO Chairman & CEO DIAMOND RESORTS LOTTE
INTERNATIONAL Dong-Bin Shin BOSTON CONSULTING HAKUBA HOTEL GROUP
MANDARIN ORIENTAL Stephen J Cloobeck Chairman GROUP Adrian Bell
Edouard Ettedgui Founder & Chairman Achim Fechtel CEO
Group Chief Executive GLOBAL MEMBERS MESSE BERLIN GMBH Senior Partner & Managing
DUBAILAND Christian Gke Director HELLOWORLD
SILVERSEA CRUISES ABU DHABI TOURISM & Mohammed Al Habbai President & CEO
CULTURE AUTHORITY CEO Elizabeth Gaines
Manfredi Lefebvre dOvidio di THE COCA-COLA COMPANY
Balsorano de Clunieres Mubarak Hamad Al Muhairi CEO
MISSION HILLS GROUP Stefanie D Miller
Chairman Director General EAST JAPAN RAILWAY Dr Ken Chu Group Vice President, Strategic
COMPANY JA RESORTS AND HOTELS
Chairman & CEO Partnership Marketing
THE TRAVEL CORPORATION AGODA Satoshi Seino David Thomson
Brett Tollman Rob Rosenstein Chairman & Director COO
NH HOTEL GROUP DELOITTE
President & Chief Executive CEO
Federico Gonzalez Tejera Adam Weissenberg
ENTERPRISE HOLDINGS MINOR HOTEL GROUP
ALL NIPPON AIRWAYS (ANA) CEO Vice Chairman, Global Travel,
Pamela Nicholson Dillip Rajakarier
Osamu Shinobe Hospitality & Leisure Leader
CEO
President & CEO NOEL GROUP, A BERKSHIRE CEO
EXECUTIVE COMMITTEE
HATHAWAY COMPANY ECOLAB
EXPEDIA INC
ABERCROMBIE & KENT ALTOUR John M. Noel Michael Hickey NORTHERN CAUCASUS
Dara Khosrowshahi
Geoffrey J W Kent Alexandre Chemla CEO Executive Vice President and RESORTS
President & CEO
Founder, Chairman & CEO President President, Global Institutional Sergey Victorovich
FAIRMONT HOTELS & NORWEGIAN CRUISE LINES
Vereshchagin
ACCOR AMADEUS IT GROUP SA RESORTS Frank Del Rio GOLDMAN SACHS
Director General
Sbastien Bazin Luis Maroto Jennifer Fox President & CEO Ben Leahy
President & CEO President Managing Director, Investment
Chairman & CEO NRMA GROUP
ORBITZ WORLDWIDE Banking Division
AVIS BUDGET GROUP Barney Harford Tony Stuart
AMERICAN EXPRESS FINTRAX
Ronald L Nelson CEO GOOGLE Group CEO
COMPANY John Moore
Chairman & CEO Rob Torres
William Glenn Chairman
President & CEO of American OTI HOLDING Managing Director for Travel PALACE RESORTS
BEIJING CAPITAL Ayhan Bektas Jos Chapur Zahoul
Express Global Business Travel GLOBAL BLUE GROUP
INTERNATIONAL AIRPORT CO Chairman JCB
David Baxby President
LIU Xuesong Koremitsu Sannomiya
AMERICAN INTERNATIONAL President & CEO
General Manager President & Chief Operating
GROUP, INC OZALTIN HOLDING PREMIER HOTELS &
SHI Boli GLOBAL LEISURE PARTNERS znur zdemir zaltin Officer
Jeffrey C Rutledge General Manager RESORTS
Chief Executive Officer, AIG LLP Chief Executive zaltin Holding
JONES LANG LASALLE Claudio Silvestri
Travel Mark Harms (Tourism Group)
BEIJING TOURISM GROUP HOTELS President & CEO
Chairman & CEO
LIU Yi Arthur de Haast
BHARAT HOTELS PEAK ADVENTURE TRAVEL
President Chairman Hotels & Hospitality ROTANA HOTEL
Jyotsna Suri GREATER TORONTO Darrell Wade
AIRPORTS AUTHORITY CEO Group MANAGEMENT
Chairperson & Managing Director BRITISH AIRWAYS
Howard Eng CORPORATION
Keith Williams SPENCER STUART
CARLSON President & CEO QUNAR Omer Kaddouri
Executive Chairman
ZHUANG Chenchao Jerry Noonan President & CEO
Douglas Anderson
HAWAIIAN AIR Co-Founder & CEO Global Consumer Leader
President & CEO Carlson CANNERY ROW COMPANY
Wagonlit Travel Ted J Balestreri Mark Dunkerley SENTOSA DEVELOPMENT
President & CEO RADISSON EDWARDIAN TOSHIBA CORPORATION
Chairman & CEO CORPORATION
HOTELS Atsutoshi Nishida
DUBAI AIRPORTS Mike Barclay
CHANGI AIRPORT GROUP HERTZ CORPORATION Jasminder Singh Chairman of the Board
INTERNATIONAL CEO
Lee Seow Hiang Michel Taride Chairman & CEO
Paul Griffiths
CEO President, Hertz International VISA WORLDWIDE
CEO SHKP HOTELS
RELAIS & CHTEAUX Ross Jackson
CHICAGO DEPARTMENT OF HOGG ROBINSON GROUP Vice President, Cross-Border, Ricco De Blank
EMIRATES Philippe Gombert
AVIATION David Radcliffe Brand, Product & Client CEO
Gary Chapman President International, Chairman
Michael Boland Chief Executive Marketing Asia Pacific Region
President Group Services & of the Board
Dnata, Emirates Group Acting Commissioner SONEVA RESORTS
HONG KONG & SHANGHAI Sonu Shivdasani
R TAUCK & PARTNER
CHINA EASTERN AIRLINES HOTELS
HNA GROUP Robin Tauck REGIONAL MEMBERS Chairman & CEO
LIU Shaoyong Clement Kwok
CHEN Feng President
Chairman Managing Director & CEO
Chairman of the Board ABACUS INTERNATIONAL SOUTH AMERICAN TOURS
HUANGSHAN TOURISM SHANGHAI JIN JIANG Robert Bailey Federico Bueker
CHINA INTERNATIONAL
INTERCONTINENTAL HOTELS GROUP INTERNATIONAL HOTELS President & CEO CEO
TRAVEL SERVICE, HEAD
GROUP HUANG Linmu YANG Weimin
OFFICE (CITS)
Richard Solomons YU Ningning President and Chairman of the CEO ACTION GROUP HOLDING SWAIN DESTINATIONS
CEO President Board H E Sheikh Mubarak Al Ian Swain
SHANGHAI SPRING Abdullah Al Mubarak Al Sabah President
JTB CORP CHINA SOUTHERN AIRLINES HYATT HOTELS INTERNATIONAL TRAVEL Chairman
Hiromi Tagawa TAN Wangeng CORPORATION SERVICES
Chairman of the Board THOMAS COOK INDIA
President & CEO Mark S Hoplamazian XIAO Qianhui ALATUR
General Manager Madhaven Menon
President and CEO Ricardo Souto Ferreira
MARRIOTT INTERNATIONAL CHIMELONG Vice President Managing Director
JW Marriott, Jr SU Zhigang IBM STARWOOD HOTELS &
Chairman Chairman & CEO Marty Salfen RESORTS WORLDWIDE ALPITOUR TREND OPERADORA LTDA
Arne M Sorenson CHEN Wancheng General Manager, Global Travel Adam Aron Gabriele Burgio Luis Paulo Luppa
President & CEO President & Transportation Industry CEO CEO President
Travel Pays

Travellers
$ Pays
directly
into:

Cruise Line Banks

Train Air
RV
Motorcoach Restaurants
General services

Which pays for:


Meeting Convention
Accommodations Wages, Salaries,
Rental Car Profits, Taxes.
Raw materials
Spor ts Arenas

Entertainment Gas

Shopping Which
Travel Agents
subsequently
pays for:
Recreation Communication
Theatre

Banks

Schools
General services
Pets
Real Estate Shopping
Hospitals
Farms

Raw materials
WTTC

Transpor tation
Tecnologies
Infrastructure

Harlequin Building
65 Southwark Street
London, SE1 0HR
United Kingdom
Telephone: +44 (0)20 7481 8007
Fax: +44 (0) 207 488 1008
Email: enquiries@wttc.org

www.wttc.org