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TRAVEL & TOURISM

ECONOMIC IMPACT 2017
SPAIN

For more information, please contact:
ROCHELLE TURNER | Research Director
rochelle.turner@wttc.org
EVELYNE FREIERMUTH | Policy & Research Manager
evelyne.freiermuth@wttc.org

COVER: Ice Scours The North Caspian Sea - NASA
INSIDE COVER: Prince Regent National Park, Australia - NASA

putting in place barriers to trade and movement of people. Enacting pro-growth travel policies that share benefits more equitably can foster a talent and business environment necessary to enable Travel & Tourism to realise its potential. The International Year provides an enormous opportunity to further showcase the tremendous economic. direct Travel & Tourism GDP growth not only outperformed the economy-wide growth recorded in 116 of the 185 countries covered by the annual economic impact research (including in major Travel & Tourism economies such as Australia. cultural. Travel & Tourism creates jobs. habitats.1% in 2016. and building mutual understanding. growth of the Travel & Tourism sector will continue to be strong so long as the investment and development takes place in an open and sustainable manner. not only can we expect the sector to support over 380 million jobs by 2027. WTTC is proud to continue to provide the evidence base required in order to help both public and private bodies make the right decisions for the future growth of a sustainable Travel & Tourism sector. Direct Travel & Tourism GDP growth is expected to accelerate to 3. Canada.8%. Mexico and South Africa). The sector accounted for 6.FOREWORD The United Nations has designated 2017 the International Year of Sustainable Tourism for Development. and biodiversity.6 trillion (10. and transport sectors. Travel & Tourism continued to show its resilience in 2016. public services.2% of global GDP) and 292 million jobs in 2016. social. to health pandemics and natural disasters. India. the 2017 Annual Economic Reports cover 185 countries and 26 regions of the world. but it will continue to grow its economic contribution. as an engine of economic development and as a vehicle for sharing cultures.5%). manufacturing. For the sixth successive year. environmental. providing the rationale for the further protection of nature. equivalent to 1 in 10 jobs in the global economy. Additionally in 2016. In total. The outlook for the Travel & Tourism sector in 2017 remains robust and will continue to be at the forefront of wealth and employment creation in the global economy. This year. and heritage value that the sector can bring. up from 3. creating peace. Despite the ever-increasing and unpredictable shocks from terrorist attacks and political instability. and generates prosperity across the world. but it also was stronger than the growth recorded in the financial and business services. In doing so. Travel & Tourism generated US$7. David Scowsill President & CEO TRAVEL & TOURISM ECONOMIC IMPACT 2017 . As one of the world’s largest economic sectors.1% and supporting 6 million net additional jobs in the sector. the World Travel & Tourism Council (WTTC) has been providing this evidence. retail and distribution. despite the emergence of a number of challenging headwinds. Over the longer term. For over 25 years. providing the necessary data on 2016 performance as well as unique 10-year forecasts on the sector’s potential. growth in Travel & Tourism outpaced that of the global economy (2. The right policy and investment decisions are only made with empirical evidence. drives exports. China. As nations seem to be looking increasingly inward. quantifying the economic and employment impact of Travel & Tourism.6% of total global exports and almost 30% of total global service exports. contributing direct GDP growth of 3. the role of Travel & Tourism becomes even more significant.

CONTENTS THE ECONOMIC IMPACT OF TRAVEL & TOURISM MARCH 2017 FOREWORD 2017 ANNUAL RESEARCH: KEY FACTS 1 DEFINING THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM 2 TRAVEL & TOURISM’S CONTRIBUTION TO GDP 3 TRAVEL & TOURISM’S CONTRIBUTION TO EMPLOYMENT 4 VISITOR EXPORTS AND INVESTMENT 5 DIFFERENT COMPONENTS OF TRAVEL & TOURISM 6 COUNTRY RANKINGS: ABSOLUTE CONTRIBUTION.2027 10 SUMMARY TABLES: ESTIMATES & FORECASTS 11 THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM: REAL 2016 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 . 2016 8 COUNTRY RANKINGS: REAL GROWTH. 2016 7 COUNTRY RANKINGS: RELATIVE CONTRIBUTION. 2017 . 2016 9 COUNTRY RANKINGS: LONG TERM GROWTH.

016. It should rise by 5.7% of total employment). and to rise by 1. to EUR72.7bn).4% pa to 1.5% pa. and grow by 2.2bn).1% of total exports in 2016. This is expected to rise by 3. the total contribution of Travel & Tourism to employment.500 jobs).2bn). 16.9% in 2017 and rise by 1.8% in 2017. 15. INVESTMENT Travel & Tourism investment in 2016 was EUR15.000 jobs (4. to EUR78.2bn (USD23.4bn. 5.6bn) in 2027. 7. 14. VISITOR EXPORTS Visitor exports generated EUR58.0% in 2017.000 jobs and rise by 0.5bn). EMPLOYMENT: DIRECT CONTRIBUTION In 2016 Travel & Tourism directly supported 862. SPAIN 2017 ANNUAL RESEARCH: KEY FACTS 1 2017 FORECAST GDP: DIRECT CONTRIBUTION The direct contribution of Travel & Tourism to GDP was EUR57.1% of total.733. including jobs indirectly supported by the industry was 14.5% of total GDP in 2027.2% of total employment) in 2027.7bn).0% in 2017 to 2. and rise by 2. from 2017-2027.9bn (USD65.1% of total GDP in 2016 and is forecast to rise by 3.0% of GDP in 2027.652.5% in 2017.000 jobs (5. 6. and is forecast to rise by 3. This is expected to rise by 2.5% of total.1bn (USD63. 1 All values are in constant 2016 prices & exchange rates WORLD RANKING (OUT OF 185 COUNTRIES): Relative importance of Travel & Tourism's total contribution to GDP 9 54 116 178 ABSOLUTE RELATIVE SIZE GROWTH LONG-TERM GROWTH Size in 2016 Contribution to GDP in 2016 2017 forecast Forecast 2017-2027 TOTAL CONTRIBUTION OF BREAKDOWN OF TRAVEL & TOURISM'S TOTAL TRAVEL & TOURISM TO GDP CONTRIBUTION TO GDP AND EMPLOYMENT 2016 2016 EURbn GDP (2016 EURbn) 250 32 200 69 150 57 100 EMPLOYMENT 862 ('000) 50 1.9% pa to 2.1bn (USD80. EMPLOYMENT: TOTAL CONTRIBUTION In 2016.259 DIRECT 531 0 + INDIRECT 2011 2016 2017 2010 2014 2015 2007 2013 2008 2009 2012 2027 2027 + INDUCED DIRECT INDIRECT INDUCED = TOTAL CONTRIBUTION OF TRAVEL & TOURISM TRAVEL & TOURISM ECONOMIC IMPACT 2017 | 1 .3% of total).0% pa.5% in 2017.9% of total investment (USD17.9bn (USD177.7% pa over the next ten years to EUR21. and to rise by 2.5% of total employment (2.5bn (USD219.981. from 2017-2027. 5.000 jobs in 2027 (15. 15.2% of GDP in 2016.2bn).5bn) in 2027. This is forecast to grow by 4.8% pa to EUR196. GDP: TOTAL CONTRIBUTION The total contribution of Travel & Tourism to GDP was EUR158.5bn (USD87.

DEFINING THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM Travel & Tourism is an important economic activity in most countries around the world. This measure is consistent with the definition of Tourism GDP. etc. 2 | WORLD TRAVEL & TOURISM COUNCIL . purchases of food and cleaning services by hotels. security services. ● Domestic purchases of goods and services by the sectors dealing directly with tourists – including. The UN Statistics Division-approved Tourism Satellite Accounting methodology (TSA:RMF 2008) quantifies only the direct contribution of Travel & Tourism. resort area security services. travel agents and leisure and recreation services that deal directly with tourists. DIRECT Travel & Tourism contribution COMMODITIES ● Accommodation ● Transportation ● Entertainment ● Attractions INDIRECT INDUCED TOTAL INDUSTRIES Travel & Tourism contribution Travel & Tourism ● Accommodation services contribution (spending of direct and contribution ● Food & beverage services indirect employees) ● Retail Trade ● T&T investment spending ● Transportation services ● Cultural. 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. such as cultural (eg museums) or recreational (eg national parks). as expressed in National Accounting. IT IS NOT POSSIBLE TO COMPARE FIGURES PUBLISHED BY WTTC FROM 2011 ONWARDS WITH THE SERIES PUBLISHED IN PREVIOUS YEARS. The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output. specified in the 2008 Tourism Satellite Account: Recommended Methodological Framework (TSA: RMF 2008). sports & recreational ● Government collective T&T ● Food and beverages ● To GDP services spending ● Recreation ● Clothing ● To employment SOURCES OF SPENDING ● Impact of purchases from ● Housing ● Residents' domestic T&T suppliers ● Household goods spending ● Businesses' domestic travel spending ● Visitor exports ● Individual government T&T spending 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. for example. As well as its direct economic impact. But WTTC recognises that Travel & Tourism's total contribution is much greater. of tourism-characteristic sectors such as hotels. aviation. PLEASE NOTE THAT DUE TO CHANGES IN METHODOLOGY BETWEEN 2010 AND 2011. administration. resort area sanitation services. and IT services by travel agents. of fuel and catering services by airlines. 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. airports. The total contribution of Travel & Tourism includes its ‘wider impacts’ (ie the indirect and induced impacts) on the economy. airlines. The ‘induced’ contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly employed by the Travel & Tourism industry. The direct contribution of Travel & Tourism to GDP is calculated from total internal spending by ‘netting out’ the purchases made by the different tourism sectors. the industry has significant indirect and induced impacts. and aims to capture its indirect and induced impacts through its annual research. ● Government 'collective' spending.

0 0 0.1bn in 2017.0 60 4.0 30 2.0 8.5bn by 2027 (15. SPAIN: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO GDP CONSTANT 2016 EURBN % OF WHOLE ECONOMY GDP 80 6. the supply chain and induced income impacts.1bn (5. But it also includes.0 10 0 0.0 20 1.1% of GDP).9bn in 2016 (14.0 2016 2017 2027 2027 2027 2016 2017 2027 2027 Direct Indirect Induced Direct Indirect Induced 1 All values are in constant 2016 prices & exchange rates TRAVEL & TOURISM ECONOMIC IMPACT 2017 | 3 . The direct contribution of Travel & Tourism to GDP is expected to grow by 2.0 100 6.2% of GDP) and is expected to grow by 3.0 200 12. SPAIN:TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO GDP CONSTANT 2016 EURBN % OF WHOLE ECONOMY GDP 250 16.0 14.9bn (14.0 50 40 3. airlines and other passenger transportation services (excluding commuter services). the activities of the restaurant and leisure industries directly supported by tourists.0 4.0 150 10. It is forecast to rise by 1.5% to EUR59.0% pa to EUR72.TRAVEL & TOURISM'S CONTRIBUTION TO GDP1 The direct contribution of Travel & Tourism to GDP in 2016 was EUR57.8% to EUR164.0 70 5.0 50 2. This primarily reflects the economic activity generated by industries such as hotels. This is forecast to rise by 3. for example. see page 2) was EUR158.8% pa to EUR196.0 2027 2009 2009 2007 2008 2007 2008 2027 2012 2013 2014 2016 2012 2014 2016 2010 2011 2015 2017 2010 2011 2015 2017 2013 2027 The total contribution of Travel & Tourism to GDP (including wider effects from investment.0% of GDP).5% of GDP) by 2027.4% of GDP) in 2017. travel agents.1bn (5.

0 14.0 2.500.500 (4.0 500.0 0.000. SPAIN:TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT '000 JOBS % OF WHOLE ECONOMY EMPLOYMENT 3.0 16.500 jobs in 2016 (14.3% of total employment).0 2016 2017 2027 2027 2016 2017 2027 2027 Direct Indirect Induced Direct Indirect Induced 4 | WORLD TRAVEL & TOURISM COUNCIL .0 2.0 8.500. TRAVEL & TOURISM'S CONTRIBUTION TO EMPLOYMENT Travel & Tourism generated 862. This includes employment by hotels.652.0 4.0 1.0 18.0 0.0 4. SPAIN: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT '000 JOBS % OF WHOLE ECONOMY EMPLOYMENT 1.0 2009 2007 2008 2027 2012 2014 2016 2010 2011 2015 2017 2013 2007 2008 2009 2010 2011 2015 2017 2027 2012 2013 2014 2016 2027 2027 The total contribution of Travel & Tourism to employment (including wider effects from investment.981.0 1.200. This is forecast to rise by 3. Travel & Tourism is forecast to support 2.000 jobs directly.0 800.0 400.0 6.0 3. It also includes.7% of total employment). By 2027. see page 2) was 2.000 jobs (15.733.0 0.0% in 2017 to 2.0 1.0 600.5% of total employment). an increase of 0. the supply chain and induced income impacts.0 12.500.000. for example.0 0.0 1.4% pa over the next ten years.0 6.0 10.000 jobs (14.000.0 2.0 5.0 3.000 jobs directly in 2016 (4.000.0 2.7% of total employment) and this is forecast to grow by 2. an increase of 1.9% in 2017 to 887. By 2027.9% pa over the period.016. the activities of the restaurant and leisure industries directly supported by tourists.0 200.6% of total employment). Travel & Tourism will account for 1. airlines and other passenger transportation services (excluding commuter services). travel agents.

0 0 0. SPAIN:VISITOR EXPORTS AND INTERNATIONAL TOURIST ARRIVALS CONSTANT 2016 EURBN mn FOREIGN VISITOR EXPORTS AS % OF TOTAL EXPORTS 90 120 18.0 20 10 14. In 2017.7% pa over the next ten years to EUR21. Travel & Tourism’s share of total national investment will rise from 6.0 7.0 20 6.000.000 international tourist arrivals.249.0 30 40 15.0 10 3.5% in 2027.5 80 18.9% in 2017 to 7.0 100 70 17. This is expected to rise by 5.2bn in 2027.0 5 1.0 15 4.0 2007 2008 2009 2010 2011 2015 2012 2013 2017 2027 2014 2016 2027 13. Spain generated EUR58.5%.508.0 50 16.9bn in visitor exports.5 60 80 17.5 60 40 16. and the country is expected to attract 78. SPAIN:CAPITAL INVESTMENT IN TRAVEL & TOURISM CONSTANT 2016 EURBN % OF WHOLE ECONOMY GDP 25 8. In 2016. By 2027.4bn in 2016.5bn.0 2.0% in 2017. and rise by 2. generating expenditure of EUR78.5 2009 2007 2008 2017 2027 2012 2013 2014 2016 2010 2011 2015 2027 FOREIGN VISITOR EXPORTS (LHS) FOREIGN TOURIST ARRIVALS (RHS) INVESTMENT Travel & Tourism is expected to have attracted capital investment of EUR15. this is expected to grow by 4.5 0 0 14.0 5.0 2009 2007 2008 2027 2012 2013 2014 2016 2010 2011 2015 2017 2009 2007 2008 2027 2012 2014 2016 2010 2011 2015 2017 2013 2027 2027 1 All values are in constant 2016 prices & exchange rates TRAVEL & TOURISM ECONOMIC IMPACT 2017 | 5 .VISITOR EXPORTS AND INVESTMENT1 VISITOR EXPORTS Visitor exports are a key component of the direct contribution of Travel & Tourism. international tourist arrivals are forecast to total 111.5% pa.5 20 15. an increase of 2.

SPAIN TRAVEL & TOURISM'S CONTRIBUTION TO GDP: DOMESTIC VS FOREIGN. Visitor exports are expected to grow by 4.4bn) compared with 12.3% The total contribution of Travel & Tourism to GDP Indirect is nearly three times greater than its direct contribution.3% 1 All values are in constant 2016 prices & exchange rates 6 | WORLD TRAVEL & TOURISM COUNCIL .6bn spending in 2027.7% a Indirect is the sum of: (a) Supply chain 28.5% Foreign visitor for visitor exports (ie foreign visitor spending or spending international tourism receipts).5% EUR58. 87.8bn. and rise by 1.5% pa to 45.5% in 2017 to EUR50.7bn).5% pa to EUR78.5bn in 2027. SPAIN BREAKDOWN OF TRAVEL & TOURISM'S TOTAL CONTRIBUTION TO GDP.1% pa to EUR120.3bn in 2027. and rise by 2. 12. 2016 Domestic travel spending generated 45.7% c b (c) Government collective 7. 43.5bn in 2027.5% of direct Travel & Tourism GDP in 2016 compared with 54.7% (b) Investment 7.3% Leisure travel spending is expected to grow by 3.5bn. DIFFERENT COMPONENTS OF TRAVEL & TOURISM1 SPAIN TRAVEL & TOURISM'S CONTRIBUTION TO GDP: BUSINESS VS LEISURE. 2016 Leisure travel spending (inbound and domestic) generated 87. and rise by 2. and rise by 1.7% Business travel spending is expected to grow by 2.4bn. 2016 The Travel & Tourism industry contributes to GDP Direct and employment in many ways as detailed on page 2. 36. 54.7% in Business 2017 to EUR97.5% Domestic Domestic travel spending is expected to grow by spending 2.3% of direct Travel & Tourism GDP in Leisure 2016 (EUR94.7% for business spending travel spending (EUR13.0% Induced 20.9% in 2017 to EUR14.5% in 2017 to EUR61.5% pa to EUR16.1bn.

COUNTRY RANKINGS: ABSOLUTE CONTRIBUTION.8 45 Portugal 3. Averages in above tables are simple cross-country averages.9 33 Turkey 495.8 8 United Kingdom 21.3 7 Italy 86.6 74 Tunisia 0. geographical neighbours.0 World Average 2152.7 29 Greece 36.0 67 Tunisia 2.2 43 Portugal 371.7 76 Tunisia 5.7 5 France 90.5 European Union Average 5.0 14 France 1180.4 42 Morocco 8.2 5 France 46.1 3 Germany 376.2 9 United Kingdom 37.4 38 Greece 422.4 75 Tunisia 429.9 13 Italy 1246.6 20 Morocco 819.7 7 Germany 27.2 3 Spain 65. TRAVEL & TOURISM ECONOMIC IMPACT 2017 | 7 .7 World Average 4.7 10 Turkey 17.2 8 Italy 207.1 World Average 19.1 15 Italy 2867.7 TRAVEL & TOURISM'S DIRECT 2016 TRAVEL & TOURISM'S TOTAL 2016 CONTRIBUTION TO EMPLOYMENT '000 jobs CONTRIBUTION TO EMPLOYMENT '000 jobs 5 Germany 3085.3 16 France 2790.9 19 Turkey 2197.3 World Average 843.0 5 United Kingdom 283.7 34 Morocco 4.8 11 United Kingdom 1589.3 26 Greece 14.2 14 Turkey 29.7 24 Greece 16.3 61 Tunisia 206. These tend to be.8 European Union Average 60. but are not exclusively.1 European Union Average 14.1 World Average 57.9 2016 2016 TRAVEL & TOURISM INVESTMENT (US$bn) VISITOR EXPORTS (US$bn) 3 France 37. highlighting comparisons with competing destinations as well as with the world and regional average. 2016 TRAVEL & TOURISM'S DIRECT 2016 TRAVEL & TOURISM'S TOTAL 2016 CONTRIBUTION TO GDP (US$bn) CONTRIBUTION TO GDP (US$bn) 3 Germany 138.2 6 Germany 46.8 86 Tunisia 1.6 30 Portugal 13.4 25 Portugal 16.7 9 Spain 177.7 The tables on pages 7-10 provide provide brief extracts from the full WTTC Country League Table Rankings.9 38 Greece 3.9 European Union Average 949.1 21 Morocco 1902.0 8 Germany 6085.4 43 Greece 860.9 19 Spain 862.6 13 Turkey 26.2 17 Spain 2652.8 6 France 221. The competing destinations selected are those that offer a similar tourism product and compete for tourists from the same set of origin markets.1 14 Turkey 88.0 World Average 7.0 16 Italy 10.5 41 Portugal 905.3 48 Morocco 19.6 11 Spain 17.5 European Union Average 407.6 10 Spain 63.2 6 United Kingdom 89.5 7 Italy 41.3 30 Portugal 34.5 40 Morocco 7.0 European Union Average 21.3 11 United Kingdom 4081.

5 41 Tunisia 6.2 98 United Kingdom 3.8 European Union 3.4 164 Germany 2.6 34 Greece 7.8 89 France 3.9 84 Tunisia 10.9 69 Spain 16.9 68 United Kingdom 4.4 30 Portugal 8.7 70 United Kingdom 11.1 40 Greece 18. 2016 TRAVEL & TOURISM'S DIRECT 2016 TRAVEL & TOURISM'S TOTAL 2016 CONTRIBUTION TO GDP % share CONTRIBUTION TO GDP % share 33 Morocco 8.6 38 Germany 7.7 40 Greece 28.7 63 Italy 4.4 54 Spain 14.1 35 Portugal 19.1 53 Portugal 9.6 162 Turkey 1.1 134 Italy 3.6 76 France 4.2 World 3. COUNTRY RANKINGS: RELATIVE CONTRIBUTION.6 European Union 11.6 World 9.7 79 United Kingdom 10.6 46 Portugal 16.1 109 France 8.6 European Union 5.5 63 Italy 12.5 30 Greece 23.9 World 3.6 42 Portugal 6.2 56 Spain 5.8 112 Turkey 8.9 113 France 6.0 55 Germany 14.4 52 Tunisia 9.5 World 4.4 World 10.9 8 | WORLD TRAVEL & TOURISM COUNCIL .9 132 United Kingdom 5.9 TRAVEL & TOURISM'S DIRECT 2016 TRAVEL & TOURISM'S TOTAL 2016 CONTRIBUTION TO EMPLOYMENT % share CONTRIBUTION TO EMPLOYMENT % share 20 Greece 11.4 European Union 5.5 48 Tunisia 6.6 67 Spain 4.5 78 France 6.2 77 Spain 6.1 35 Turkey 12.1 58 Tunisia 13.6 68 Turkey 12.2 83 France 9.5 41 Morocco 18.8 73 Turkey 14.1 54 Spain 14.1 73 Italy 11.1 80 Germany 4.6 European Union 10.6 98 United Kingdom 4.0 78 Germany 10.8 52 Morocco 22.0 64 Tunisia 12.1 46 Morocco 16.9 119 Germany 3.9 World 6.0 53 Italy 5.6 36 Morocco 7.5 European Union 4.9 105 Italy 7.0 33 Morocco 12.1 TRAVEL & TOURISM CONTRIBUTION 2016 VISITOR EXPORTS 2016 TO TOTAL CAPITAL INVESTMENT % share CONTRIBUTION TO EXPORTS % share 27 Greece 15.5 73 Turkey 4.3 54 Portugal 20.

4 85 Spain 3.6 151 United Kingdom 2.6 163 France 1.2 126 Portugal 2.8 116 Spain 3.1 123 Spain 4.6 25 Greece 10.0 98 Italy 3.0 145 United Kingdom 1.5 155 Turkey 0.26 180 Turkey -3.0 54 Morocco 6.9 145 Portugal 2.1 129 Germany 1.2 78 Spain 5.4 128 United Kingdom 2.9 109 Morocco 4.8 European Union 2.3 85 France 4.3 83 Portugal 3.COUNTRY RANKINGS: REAL GROWTH.6 European Union 2.6 82 Germany 4.8 154 United Kingdom 1.59 2017 2017 TRAVEL & TOURISM INVESTMENT % growth VISITOR EXPORTS % growth 44 Greece 6.9 14 Greece 6.7 TRAVEL & TOURISM ECONOMIC IMPACT 2017 | 9 .2 154 Tunisia 2.3 173 Turkey -2.1 World 1.2 World 2.9 106 Italy 2.1 135 Portugal 3.0 142 Germany 3.8 149 Italy 2.09 161 Morocco 0.6 European Union 2.5 29 Greece 6.3 171 Turkey 1.5 World 4.4 133 Tunisia 4.0 European Union 5.5 158 France 1.2 88 United Kingdom 6.0 136 Tunisia 2.0 100 Spain 2.3 173 Turkey 0.5 World 3.4 149 Italy 2.2 167 Germany 1.5 130 Morocco 4.8 127 Spain 3.7 World 4.9 139 France 1.6 144 Portugal 2.1 World 3.8 149 France 3.9 151 Tunisia 0.8 161 Turkey 2.9 European Union 2.0 TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017 CONTRIBUTION TO EMPLOYMENT % growth CONTRIBUTION TO EMPLOYMENT % growth 29 Greece 5.5 European Union 3.0 160 Tunisia 1.9 127 Tunisia 2.7 165 Morocco -0.9 168 Germany 1.0 137 France 1.1 105 Morocco 4.6 140 United Kingdom 2.6 155 Germany 0.8 107 Italy 5. 2017 TRAVEL & TOURISM'S DIRECT 2017 TRAVEL & TOURISM'S TOTAL 2017 CONTRIBUTION TO GDP % growth CONTRIBUTION TO GDP % growth 29 Greece 7.1 90 Portugal 3.1 162 Italy 0.

8 181 Italy 1.0 166 Germany 0.4 152 United Kingdom 1.1 103 Morocco 4.8 112 Morocco 3.2 89 Morocco 2.0 World 3.3 142 Portugal 1.3 144 United Kingdom 2.4 European Union 1.5 World 4.2027 TO TOTAL CAPITAL INVESTMENT % growth pa CONTRIBUTION TO TOTAL EXPORTS % growth pa 58 Greece 5.0 178 Spain 1.6 123 France 1.7 160 Portugal 2.0 10 | WORLD TRAVEL & TOURISM COUNCIL .6 124 Tunisia 3.5 172 Italy 1.7 European Union 3.9 163 Tunisia 1.2 122 Italy 1.6 86 Greece 4.4 104 Morocco 4.7 TRAVEL & TOURISM CONTRIBUTION 2017 .1 164 Spain 0.9 39 Greece 3.8 118 France 4.4 81 Morocco 2.3 170 Portugal 2.4 TRAVEL & TOURISM'S DIRECT 2017 .5 89 Greece 4.1 34 Turkey 6.5 World 2.3 166 Germany 2.8 178 Italy 2.8 164 Germany 1.1 36 Turkey 3.0 179 France 1.6 World 2.8 176 Germany 2.0 171 Tunisia 0.4 71 Greece 2.4 142 France 2.2027 CONTRIBUTION TO GDP % growth pa CONTRIBUTION TO GDP % growth pa 74 Turkey 4.9 85 Greece 4.4 101 Italy 2.2 European Union 2.0 140 Spain 2.7 103 Morocco 4.0 World 4.0 158 United Kingdom 1.1 146 Spain 1.2027 TRAVEL & TOURISM'S TOTAL 2017 .1 170 Spain 2.5 European Union 1.2027 CONTRIBUTION TO EMPLOYMENT % growth pa CONTRIBUTION TO EMPLOYMENT % growth pa 5 Turkey 5.2027 TRAVEL & TOURISM'S DIRECT 2017 .5 91 Turkey 4.8 139 France 1.7 182 Italy 1.4 131 Tunisia 3.9 175 Spain 2.3 134 Germany 3. COUNTRY RANKINGS: LONG TERM GROWTH.0 111 Tunisia 4.3 169 United Kingdom 2.9 122 Tunisia 3.2 167 United Kingdom 2.2 173 France 2.0 World 4.2027 VISITOR EXPORTS 2017 .0 176 Portugal 1.2 European Union 2. 2017 .4 155 Portugal 1.7 145 Germany 3.2027 TRAVEL & TOURISM'S TOTAL 2017 .7 127 United Kingdom 3.4 European Union 2.8 141 Turkey 2.7 162 Portugal 2.

9 5.4 3.3 3.8 1.0 Total contribution to GDP 177.8 1.6 4. 22017 real growth adjusted for inflation (%).6 2.5 5.1 2.2 4 Direct contribution to employment 11. 4'000 jobs 2016 2016 2017 2027 1 2 EUROPEAN UNION USDbn % of total Growth USDbn 1 % of total Growth3 Direct contribution to GDP 611.027.1 138.5 Capital investment 17. Visitor exports is shown relative to total exports of goods and services.4 Domestic spending 938.SUMMARY TABLES: ESTIMATES & FORECASTS 2016 2016 2017 2027 SPAIN USDbn1 % of total Growth 2 USDbn 1 % of total Growth 3 Direct contribution to GDP 63.6 619.1 Business spending 15.6 4.2 Business spending 329.5 Leisure spending 1.221.700 11.5 217.3 1.7 Capital investment 806.0 Total contribution to GDP 7.741 3.2 2.2 4.086 4.5 3.7 1.7 1 2016 constant prices & exchange rates.7 5.1 1.1 5.8 4 Direct contribution to employment 862 4.5 65.306.8 219.5 5.7 4.3 0.512.6 7.0 4.6 2. 22017 real growth adjusted for inflation (%).6 11.9 18.4 2.0 1.2 6.4 4 Total contribution to employment 2.5 4.537.9 10.9 4.0 23.5 Domestic spending 54. Domestic spending is expressed relative to whole economy GDP.5 87.1 1.7 5.9 3.5 4 Total contribution to employment 26.0 2.1 3.5 4.2 4.1 2.917.0 2.2 14.5 80. TRAVEL & TOURISM ECONOMIC IMPACT 2017 | 11 .4 2.5 Visitor exports 1.9 381.9 5.2 11.312.613.5 2.414.5 6.6 0.2 3.0 3.401.9 Visitor exports 65.3 Visitor exports 418.6 2.7 2.8 3. 22017 real growth adjusted for inflation (%).585 11.8 1. Investment is relative to whole economy investment.2 15.9 5.4 4.220 9.981 15.6 4.6 1.409 5.7 2.149.153.5 1.5 2.9 4 Direct contribution to employment 108.7 134. 32017-2027 annualised real growth adjusted for inflation (%).1 2.3 3.5 3.5 6.4 420.1 5.4 3.2 4.0 7.1 2.7 1.7 16.9 Leisure spending 3.2 0.1 3.682.4 3.5 1 2016 constant prices & exchange rates.6 3.768 13.2 0.2 30.0 2.8 13.5 Leisure spending 105.9 4.3 10.307.8 2.2 3.2 1.9 3.0 1.574.7 4.5 15.110.1 Capital investment 159.9 11.6 2.1 3. 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).9 786.1 Business spending 1.3 Domestic spending 3.5 5.2 5.8 3. 32017-2027 annualised real growth adjusted for inflation (%).719.8 3.9 1.5 2. 4'000 jobs 2016 2016 2017 2027 1 2 WORLDWIDE USDbn % of total Growth USDbn 1 % of total Growth3 Direct contribution to GDP 2.3 Total contribution to GDP 1.822.2 4 Total contribution to employment 292.7 5.2 2.6 4.8 1 2016 constant prices & exchange rates.016 5.5 2.3 0.0 2. 32017-2027 annualised real growth adjusted for inflation (%).7 2.641 5.5 2.9 0. 4'000 jobs % of total refers to each indicator's share of the relevant whole economy indicator such as GDP and employment.3 4. For leisure and business spending.652 14.7 1.8 2.

2 51. Visitor exports 49.0 104.9 32.1 144.2 -4.3 97.6 11.7 2. THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM: REAL 2016 PRICES SPAIN (EURbn.7 108.2 52.7 14.4 16.4 58.1 12.6 46. Purchases by tourism providers.0 833.7 862.458.9 29.4 101.2 887. including imported goods -46.3 29.3 13.3 2.015.7 -5.6 -5.455.348.3 15.9 Imported goods from indirect 9.2 21.2 143. Government collective spending 12.8 16. 47.9 757.3 57.0 -47. Total contribution of Travel & Tourism to GDP 147.404.0 54. Expenditure on outbound travel 12 | WORLD TRAVEL & TOURISM COUNCIL . Internal tourism consumption 97.8 45.9 -9.5 753.2 spending 10.5 -5.7 49.9 12.6 15.8 (supply chain) 5. Direct contribution of Travel & Tourism to GDP 51.7 48.1 147.5 1.1 112.5 (includes government individual spending) 3.0 12.732.0 -4.2 47. Capital investment 14.0 51.4 -51.2 8.3 33.1 (= 3 + 4) Other final impacts (indirect & induced) 42.6 Tourism to employment Total contribution of Travel & 13.6 24.0 24.3 14.0 58.3 2.8 Tourism to employment Other indicators 16.2 29.4 796.4 18. real 2016 prices) 2011 2012 2013 2014 2015 2016 2017E 2027F 1.5 (= 5 + 6 + 7 + 8 + 9 + 10) Employment impacts ('000) 12.8 30.1 -46.9 196. -4. 2.6 43.1 11.5 78.6 50.8 -5.8 11.0 97. Induced 29.9 2.1 72.8 -64.7 49.7 46.9 2.980.9 61.1 -46.9 164.8 33.652.9 14.5 46.6 153.8 42.3 55. Direct contribution of Travel & 756.3 158.5 Domestic expenditure 2.3 6 Domestic supply chain 7.9 (= 1 + 2 ) 4.0 136.1 59.5 53.0 44.7 -49.4 60.4 56.6 11.565.8 38.7 11.2 50.9 12.0 20.0 -52.5 2.5 2.

3 (= 3 + 4) Other final impacts (indirect & induced) 42.458.565.015.5 11.7 100.9 2.1 -51.8 14.9 757.9 62.1 46. 47.2 40.8 12.8 -6.5 -5. including imported goods -45.3 17.0 87.7 51.5 11.8 Imported goods from indirect 9.5 11. Total contribution of Travel & Tourism to GDP 145. Visitor exports 49. Purchases by tourism providers.0 25.7 862.0 28.5 (supply chain) 5.6 -78.0 -4.2 152.6 158.1 spending 10.0 -11.8 55.3 14.8 (includes government individual spending) 3.9 167. Capital investment 14. Historical data for concepts has been benchmarked to match reported TSA data where available.1 46.2 48. Direct contribution of Travel & Tourism to GDP 50.3 42.4 16.2 -4.1 104.6 29. TRAVEL & TOURISM ECONOMIC IMPACT 2017 | 13 .6 16.5 24. 2.652.0 96. Government collective spending 12.4 95.8 32. -4.5 16.732.1 49.7 50.6 15.8 Tourism to employment Other indicators 16.0 Domestic expenditure 2.1 52.1 42.6 53.5 30.2 96. nominal prices) 2011 2012 2013 2014 2015 2016 2017E 2027F 1.0 833.3 -49. THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM: NOMINAL PRICES SPAIN (EURbn.7 142.8 20.9 55.8 (= 1 + 2 ) 4.3 46.6 Tourism to employment Total contribution of Travel & 13.2 51.5 753.2 11.404.7 2.1 113.7 50. Induced 29.4 51.2 70. the Organisation for Economic Co-operation and Development (OECD) and the World Tourism Organization (UNWTO).1 15.4 25.9 29.5 2.1 146.455. Domestic supply chain 7.5 142.3 2.6 -5.6 -5.9 2. 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).4 45.3 34.4 796.3 2.5 13.2 237.2 887.980.6 165.348.5 49.7 11.6 -47.2 46.5 2.1 73.1 12.5 1.9 (= 5 + 6 + 7 + 8 + 9 + 10) Employment impacts ('000) 12.1 60. Direct contribution of Travel & 756.6 8.0 -53.9 12.7 44.0 47.6 -45.2 108.0 57.0 6.6 -45.9 12.7 58. Internal tourism consumption 96. the Statistical Office of the European Communities (EUROSTAT).

6 5.7 1.5 1.0 (= 3 + 4) Other final impacts (indirect & induced) 4. Direct contribution of Travel & Tourism to GDP 4.6 4.0 1. Total contribution of Travel & Tourism to GDP 1.4 4.3 3.6 2.3 3. Direct contribution of Travel & 0. Expenditure on outbound travel 1 2 2011-2016 real annual growth adjusted for inflation (%).3 11.4 -2.7 3.6 4.4 2.6 2.0 4. Visitor exports 8.1 -1.9 4.5 (includes government individual spending) 3.0 2.0 3.2 3.0 (= 1 + 2 ) 4.6 1.0 2.1 -3.6 -2.8 3.6 2.5 Domestic expenditure 2.0 -0. -0.8 -3.6 -2.5 4.2 3. -2.2 -1.4 0.3 -8.5 2.5 2.2 Imported goods from indirect 9.0 7.2 4.7 8.3 3.4 1.9 Tourism to employment Other indicators -3.4 3.7 3.6 -4.5 3. Purchases by tourism providers.2 15.7 1.6 4. including imported goods 4.5 1.1 0.8 (= 5 + 6 + 7 + 8 + 9 + 10) Employment impacts ('000) 12.2 11. Government collective spending -1.2 3.7 2.5 0.0 -0.1 (supply chain) 5.0 9.8 1.3 2.6 3.9 -0.4 3.0 16.0 13.4 21.6 5.4 Tourism to employment Total contribution of Travel & 13.0 14.0 0. Induced -0. Domestic supply chain 7. Capital investment -11.1 -0.4 spending 10.0 -0.5 1.3 0.1 5.2 1.4 -7.7 3.6 3.0 -6.6 3.0 3.2 -0.1 3. 2017-2027 annualised real growth adjusted for inflation (%) 14 | WORLD TRAVEL & TOURISM COUNCIL .8 1.3 4.0 -0.7 3.0 2.7 3.5 2.2 -2.1 3.5 3.3 3. THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM: GROWTH SPAIN 2 Growth1 (%) 2011 2012 2013 2014 2015 2016 2017E 2027F 1.5 3.8 3.9 1. -3.9 5. Internal tourism consumption 4.0 6.0 0.9 3.6 3.7 4.

including spending on transport. • CAPITAL INVESTMENT: Includes capital investment spending TOTAL CONTRIBUTION TO GDP by all industries directly involved in Travel & Tourism. related to all aspects of such trips is measured within the research. such as cultural services (eg museums) or recreational fully aligned with total outbound tourism expenditure in table 3 of services (eg national parks). but consistent with total collective tourism consumption in table 9 excluding international spending on education. but is separately identified according to the TSA: RMF 2008 (see below). as well as restaurants and TOTAL CONTRIBUTION TO EMPLOYMENT leisure facilities for specific tourism use. travel agents. INDIRECT AND INDUCED IMPACTS DIRECT CONTRIBUTION TO EMPLOYMENT INDIRECT CONTRIBUTION The number of direct jobs within Travel & Tourism. In terms of the UN’s Tourism Satellite Account methodology it is consistent with total GDP calculated in table 6 of the TSA: RMF 2008. including international visitors. For VISITOR EXPORTS example. Economic activity expenditure in table 4 of the TSA: RMF 2008. airlines and other passenger transport services. • GOVERNMENT COLLECTIVE SPENDING: Government DIRECT SPENDING IMPACTS spending in support of general tourism activity. Multi-use consumer durables are not INDUCED CONTRIBUTION included since they are not purchased solely for tourism purposes. including same-day and directly with tourists including visitor exports. 2 of the TSA: RMF 2008. This is consistent The contribution to GDP and jobs of the following three factors: with total employment calculated in table 7 of the TSA: RMF 2008. This is to visitors. as well as the activities of restaurant and leisure industries that LEISURE TRAVEL & TOURISM SPENDING deal directly with tourists. hotels. Spending within a country by that country’s residents for both business and leisure trips. This is business and leisure trips. This GDP generated directly by the Travel & Tourism sector plus its also constitutes investment spending by other industries on indirect and induced impacts (see below). specific tourism assets such as new visitor accommodation and passenger transport equipment. OTHER INDICATORS GOVERNMENT INDIVIDUAL SPENDING OUTBOUND EXPENDITURE Spending by government on Travel & Tourism services directly linked Spending outside the country by residents on all trips abroad. Outbound spending by residents abroad is not included here. This does not include spending Relates to the activity of travellers on trips outside their usual abroad by residents. This can include national as well as regional and local government spending. BUSINESS TRAVEL & TOURISM SPENDING DIRECT CONTRIBUTION TO GDP Spending on business travel within a country by residents and GDP generated by industries that deal directly with tourists. made by those industries (including imports). domestic spending overnight visitors (tourists) to the country. This is consistent with The number of jobs generated directly in the Travel & Tourism sector total tourism gross fixed capital formation in table 8 of the TSA: plus the indirect and induced contributions (see below). This is consistent of TSA: RMF 2008. TRAVEL & TOURISM ECONOMIC IMPACT 2017 | 15 . It is equivalent to total internal Travel & Spending on leisure travel within a country by residents and Tourism spending (see below) within a country less the purchases international visitors. RMF 2008.GLOSSARY KEY DEFINITIONS TRAVEL & TOURISM and government individual spending. The broader contribution to GDP and employment of spending by This is consistent with total domestic tourism expenditure in table those who are directly or indirectly employed by Travel & Tourism. it includes tourism promotion. administrative services and other public services. • SUPPLY-CHAIN EFFECTS: Purchases of domestic goods and services directly by different industries within Travel & Tourism DOMESTIC TRAVEL & TOURISM SPENDING as inputs to their final tourism output. the TSA: RMF 2008. INTERNAL TOURISM CONSUMPTION FOREIGN VISITOR ARRIVALS Total revenue generated within a country by industries that deal The number of arrivals of foreign visitors. with total inbound tourism expenditure in table 1 of the TSA: RMF 2008. visitor information Spending within the country by international tourists for both services. This is consistent with total internal tourism environment with a duration of less than one year.

Thailand. Peru. sub-regions and economic and geographic groups. Indonesia. Brazil. FORMER NETHERLANDS ANTILLES Oman. Netherlands. OTHER OCEANIA France*. Czech Republic. Egypt. Mexico. South Africa. UK*. Brazil. Qatar. Mexico. Micronesia (Federated States of). Mauritius. Malawi. Bangladesh. Palau. Mexico. Lesotho. Albania. 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). Burkina Faso. St Kitts and Nevis. Ivory USA. Angola. Samoa. Northern Mariana Islands. Chile. Luxembourg. New Zealand. Paraguay. Israel. Germany. Zimbabwe. Republic. Tajikistan. Kyrgyzstan. Islands. Hungary. Iraq. Bahrain. Seychelles. UAE. Belize. Niger. South Korea. Guyana. St Lucia. Switzerland. Russian Federation. Kuwait. Mozambique. Gabon. Estonia. Taiwan. Trinidad and Tobago. Brunei South Korea. Canada. Botswana. Turkey. El Salvador. Dominican Madagascar. Colombia. Italy. there are 10 reports for special economic and geographic groups with GCC and the Organisation of Islamic Cooperation being included for the first time. Haiti. Yemen. Finland. Austria. Azerbaijan. Tunisia. ECONOMIC AND GEOGRAPHIC GROUPS APEC (ASIA-PACIFIC ECONOMIC COOPERATION) (OIC) ORGANISATION FOR ISLAMIC COOPERATION** Australia. This year. we have sourced updated TSAs for 28 countries. Panama. Peru. Greece. Mexico. Saudi Arabia. Mali. as well as existing countries reporting an additional year’s data. European Union. Djibouti. Namibia. Maldives. Senegal. Guinea-Bissau. Honduras. Tuvalu. Bolivia. Sweden. Portugal. WTTC also produces reports on 25 other regions. Chile. South Korea. Dominica. Indonesia. Indonesia. Democratic Republic of Congo (DRC). Somalia or Turkmenistan 16 | WORLD TRAVEL & TOURISM COUNCIL . Ecuador. Uruguay. published TSAs. Benin. China. Jordan. Bonaire. Canada. Algeria. Turkey. including for countries which are reporting data for the first time. Barbados. Cuba. Uzbekistan. Nigeria. Comoros. Canada. Sierra Leone. Pakistan. Peru. Morocco. Costa Rica. Grenada. Syria. Gambia. Chad. Guatemala. Togo. UK. American Samoa. Japan. Saudi Arabia. Mauritania. Saba and Sint Eustatius. Oman. Slovenia. * included in European Union ** no data for Afghanistan. Suriname. Saudi Arabia. New Zealand. India. Malaysia. Mozambique. Iceland. Cook Islands. Tajikistan. Jamaica. Guam. Cameroon. France. Uganda. Australia. Philippines. Hong Kong. Zambia. GCC (GULF COOPERATION COUNCIL) PACIFIC ALLIANCE Bahrain. Spain. Lebanon. This involves the benchmarking of country reports to official. Japan. Papua New Guinea. Chile. Suriname. Denmark. Guinea. Belgium. Norway. ad Mauritius bringing our total of countries in our benchmarking dataset to 54. UAE Chile. Turkey. Germany*. Kuwait. G20 Argentina. taking our coverage to 185 countries. Slovak Republic. In 2017. Furthermore. Sint Maarten. Marshall Russian Federation. Brunei. USA. Canada. Coast. Vietnam. Japan. Poland. French Polynesia. Palestine. South Africa. St Vincent and the Grenadines. Kazakhstan. Iran. Antigua and Barbuda. Malaysia. Sudan. Bahamas. Qatar. Indonesia. OECD (ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT) Australia. USA. Swaziland. Singapore. New country TSAs incorporated this year include Albania. New Caledonia. Italy*. OAS (ORGANIZATION OF AMERICAN STATES) SADC (SOUTHERN AFRICAN DEVELOPMENT COMMUNITY) Argentina. Tanzania. Ireland. we have also been able to add a new country. Nicaragua. China. USA. Colombia. Niue. Curacao. Guyana. Libya. Darussalam. Mexico.

ECONOMIC IMPACT REPORTS: REGIONS. SUB REGIONS & COUNTRIES WORLD SUB-REGION SUB REGION SUB REGION SUB REGION REGION REGION REGION REGION COUNTRY COUNTRY COUNTRY COUNTRY Algeria Anguilla China Hungary NORTH AFRICA Egypt Antigua and Barbuda Hong Kong Ireland NORTHEAST ASIA Libya Aruba Japan Italy Morocco Bahamas South Korea Latvia Tunisia Macau Barbados Lithuania Angola Mongolia Bermuda Luxembourg Taiwan EUROPEAN UNION Benin British Virgin Islands Malta Kazakhstan CENTRAL ASIA Botswana Cayman Islands Netherlands Burkina Faso Kyrgyzstan Cuba Poland Burundi Tajikistan Dominica Portugal Uzbekistan Cameroon CARIBBEAN Dominican Republic Romania Australia Cape Verde Former Netherland Antillies Fiji Slovakia Central African Republic Grenada Kiribati Slovenia Chad Guadeloupe New Zealand Spain OCEANIA Comoros Haiti Papua New Guinea Sweden Congo ASIA-PACIFIC Jamaica Solomon Islands UK Cote d'Ivoire Martinique Tonga Albania Democratic Republic of Congo EUROPE Puerto Rico Vanuatu Armenia Ethiopia Other Oceanic States Gabon St Kitts and Nevis Azerbaijan Bangladesh Gambia St Lucia Belarus India SOUTH ASIA Ghana St Vincent and the Grenadines Bosnia and Herzegovina Maldives AMERICAS Guinea Trinidad and Tobago Georgia AFRICA Nepal Kenya US Virgin Islands Iceland OTHER EUROPE Pakistan Lesotho Argentina Macedonia SUB-SAHARAN Sri Lanka Madagascar Belize Moldova Brunei Darussalam Malawi Bolivia Montenegro Cambodia Mali SOUTHEAST ASIA (ASEAN) Brazil Indonesia Norway Mauritius Chile Russian Federation Laos Mozambique Colombia Malaysia Serbia Namibia Costa Rica Myanmar Switzerland Niger Ecuador Philippines Turkey LATIN AMERICA Nigeria El Salvador Singapore Ukraine Reunion Guatemala Thailand Bahrain Rwanda Vietnam Guyana Iran Sao Tome and Principe Austria Honduras Iraq Senegal Belgium Nicaragua Israel Seychelles Bulgaria Panama Jordan MIDDLE EAST Sierra Leone Croatia Paraguay Kuwait EUROPEAN UNION South Africa Cyprus Lebanon EUROPE Peru Sudan and South Sudan Czech Republic Suriname Oman Swaziland Denmark Tanzania Uruguay Qatar Estonia Togo Venezuela Finland Saudi Arabia Uganda Canada France Syria AMERICA NORTH Zambia Mexico Germany United Arab Emirates Zimbabwe USA Greece Yemen TRAVEL & TOURISM ECONOMIC IMPACT 2017 | 17 .

Presidents and Chief Executives of the world’s leading private sector Travel & Tourism businesses. Philadelphia. London SE1 9PL. STR maintains a presence in 16 countries. Milan. New York and Singapore. Director of Business Development. and their comprehensive solutions empower clients to strategize and compete within their markets.com Contributing data to the WTTC Economic Impact Model STR is the source for premium hotel data benchmarking. For more information. compare and forecast the economic impact of Travel & Tourism on 185 economies around the world. please visit www. To download reports or data. Chicago. analytics and marketplace insights. including 150 professional economists. accurate and actionable. Together with Oxford Economics. San Francisco. WTTC produces a world report highlighting the global economic impact and issues. STR provides data that is reliable. sub-regions and economic and geographic groups. 100 industrial sectors and over 3. and 24 further reports that focus on regions. Email: fnicholls@oxfordeconomics. WTTC produces annual research that shows Travel & Tourism to be one of the world’s largest sectors. or contact Frances Nicholls. social and business impact. all built to fuel business growth and help clients make better operational and financial decisions. Miami. Oxford Economics Ltd. In addition to the individual country reports. with regional centres in London. 18 | WORLD TRAVEL & TOURISM COUNCIL . confidential. please see www.com. Broadwall House. The World Travel & Tourism Council is the global authority on the economic and social contribution of Travel & Tourism. Dubai. analysts and journalists around the world. Paris. The company employs over 250 full-time people. Comprehensive reports quantify. Oxford Economics has offices across the globe in Belfast. supporting over 292 million jobs and generating 10. working with governments and international institutions to create jobs. Their best-of-class global economic and industry models and analytical tools give an unparalleled ability to forecast external market trends and assess their economic.000 hotels across 180 countries.org Assisting WTTC to Provide Tools for Analysis. The range of products includes data-driven solutions. and Washington DC. thorough analytics and unrivalled marketplace insights. WTTC promotes sustainable growth for the Travel & Tourism sector. Founded in 1981 as a commercial venture with Oxford University’s business college. Council Members are the Chairs. Forecasting and Planning.wttc. industry experts and business editors – one of the largest teams of macroeconomists and thought leadership specialists – underpinning the in-house expertise is a contributor network of over 500 economists. providing reports.000 cities. forecasts and analytical tools on 200 countries.oxfordeconomics. to drive exports and to generate prosperity. and collects data for over 55. 21 Broadwall. Oxford Economics is one of the world’s foremost independent global advisory firms. Benchmarking.2% of global GDP in 2016. England. Headquartered in Oxford.

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