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Travel & Tourism Economic I mpact 2012 Albania Travel & Tourism Economic I mpact 2012 Albania Document Transcript

  • The Authority on World Travel & TourismTravel& Tourism Economic Impact 2012 Albania WTTC Travel & Tourism Economic Impact 2012 1
  • For more information please contact: Olivia Ruggles-Brise Director, Policy & Research olivia.rugglesbrise@wttc.org Eva Aimable Manager, Policy & Research eva.aimable@wttc.org © 2012 World Travel & Tourism Council
  • ForewordFor more than 20 years the World Travel & Tourism Council (WTTC)has been investing in economic impact research, which assessesthe Travel & Tourism industry’s contribution to GDP and jobs. Ourten-year forecasts are unique in the information they provide toassist governments and private companies plan for the future.Travel & Tourism continues to be one of the world’s largest industries. The total impact of the industry meansthat, in 2011, it contributed 9% of global GDP, or a value of over US$6 trillion, and accounted for 255 millionjobs. Over the next ten years this industry is expected to grow by an average of 4% annually, taking it to10% of global GDP, or some US$10 trillion. By 2022, it is anticipated that it will account for 328 million jobs,or 1 in every 10 jobs on the planet. 2011 was one of the most challenging years ever experienced by the global Travel & Tourism industry. However, our latest research suggests that, despite political upheaval, economic uncertainty and naturaldisasters, the industry’s direct contribution to world GDP grew by nearly 3% to US$2 trillion and directlygenerated 1.2 million new jobs. This was supported by a 3% increase in visitor exports to US$1.2 trillion,with almost 3% growth in capital investment, which rose to over US$0.7 trillion. Moreover, while the macroeconomic environment remains very challenging, our latest projections point tocontinuous growth in the contribution of Travel & Tourism to global GDP and employment. Rising householdincomes in emerging economies – not only the BRICs (Brazil, Russia, India and China) but increasingly acrossthe rest of Southeast Asia and Latin America – will continue to fuel increased leisure demand. Similarly,growing international trade – particularly from emerging markets – will sustain business travel demand. In developed economies, consumers are likely to remain cautious, especially in European countries whereausterity programmes are being implemented. This means that we expect growth in Travel & Tourism’s direct contribution to GDP to remain stable at 3% in2012. We expect the industry to generate directly over 2 million new jobs, with a 2% increase in visitor exportsand 3.5% growth in investment over the year. Rarely over the past 20 years have we been challenged by such economic and political uncertainty as we areseeing now. Our ongoing research underlines the importance of Travel & Tourism as a stabilising force globally– providing jobs, generating prosperity, and facilitating international trade and investment.David ScowsillPresident & CEOWorld Travel & Tourism Council
  • ContentsThe Economic Impact of Travel & Tourism 20122012 Annual Research: Key Facts........................................................................................................1Defining the Economic Contribution of Travel & Tourism.............................2Travel & Tourism’s Contribution to GDP......................................................................................3Travel & Tourism’s Contribution to Employment. .........................................................4Visitor Exports and Investment...................................................................................................................5Different Components of Travel & Tourism.............................................................................6Country Rankings: Absolute Contribution, 2012.........................................................7Country Rankings: Relative Contribution, 2011............................................................8Country Rankings: Real Growth, 2012..........................................................................................9Country Rankings: Long Term Growth, 2012 - 2022....................................... 10Summary Tables: Estimates and Forecasts.................................................................... 11The Economic Contribution of Travel & Tourism:Real 2011 Prices. ............................................................................................................................................................ 12The Economic Contribution of Travel & Tourism:Nominal Prices.................................................................................................................................................................... 13The Economic Contribution of Travel & Tourism: Growth....................... 14Glossary.......................................................................................................................................................................................... 15Methodological Note. .............................................................................................................................................. 16Regions, Sub-regions, Countries....................................................................................................... 17 USE OF MATERIAL IS AUTHORISED, PROVIDED SOURCE IS ACKNOWLEDGED 1-2 Queen Victoria Terrace, Sovereign Court, London E1W 3HA, UK 2 Tel: +44 (0) 20 7481 8007. Fax: +44 (0) 20 7488 1008. Email: enquiries@wttc.org. www.wttc.org
  • Albania2012 ANNUAL RESEARCH: KEY FACTS 2012 forecastGDP: DIRECT CONTRIBUTIONThe direct contribution of Travel & Tourism to GDP was ALL81.4bn (6.2% of total GDP) in 2011,and is forecast to rise by 5.6% in 2012, and to rise by 5.4% pa, from 2012-2022, to ALL145.4bnin 2022 (in constant 2011 prices).GDP: TOTAL CONTRIBUTIONThe total contribution of Travel & Tourism to GDP was ALL287.9bn (21.8% of GDP) in 2011,and is forecast to rise by 5.1% in 2012, and to rise by 5.3% pa to ALL505.0bn in 2022.EMPLOYMENT: DIRECT CONTRIBUTIONIn 2011 Travel & Tourism directly supported 51,000 jobs (5.5% of total employment). This isexpected to rise by 4.3% in 2012 and rise by 2.7% pa to 70,000 jobs (6.5% of total employment)in 2022.EMPLOYMENT: TOTAL CONTRIBUTIONIn 2011, the total contribution of Travel & Tourism to employment, including jobs indirectlysupported by the industry, was 19.8% of total employment (183,500 jobs). This is expected torise by 3.7% in 2012 to 190,000 jobs and rise by 2.4% pa to 242,000 jobs in 2022 (22.5% oftotal).VISITOR EXPORTSVisitor exports generated ALL182.4bn (41.8% of total exports) in 2011. This is forecast to growby 5.0% in 2012, and grow by 5.3% pa, from 2012-2022, to ALL322.3bn in 2022 (27.6% oftotal).INVESTMENTTravel & Tourism investment in 2011 was ALL21.0bn, or 4.8% of total investment. It should riseby 7.5% in 2012, and rise by 4.6% pa over the next ten years to ALL35.4bn in 2022 (5.0% oftotal).WORLD RANKING (OUT OF 181 COUNTRIES):Relative importance of Travel & Tourisms total contribution to GDP 95 29 55 44 ABSOLUTE RELATIVE GROWTH LONG-TERM GROWTH Size in 2011 Contribution to GDP in 2011 2012 forecast Forecast 2012-2022 Total Contribution of Breakdown of Travel & Tourisms Total Travel & Tourism to GDP Contribution to GDP and Employment 20112011 ALLbn 2011 ALLbn GDP (2011 ALLbn) 600 50 500 156 400 Employment 300 81 (000) 200 51 97 100 35 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2022 2022 Direct Indirect Induced = Total contribution of Travel & Tourism WTTC Travel & Tourism Economic Impact 2012 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 industry 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. But WTTC recognises that Travel & Tourisms total contribution is much greater, 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 sectors. 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 industry. PLEASE NOTE THAT DUE TO CHANGES IN METHODOLOGY BETWEEN 2010 AND 2011, IT IS NOT POSSIBLE TO COMPARE FIGURES PUBLISHED BY WTTC FROM 2011 ONWARDS WITH THE SERIES PUBLISHED IN PREVIOUS YEARS.2 WTTC Travel & Tourism Economic Impact 2012
  • Travel & Tourisms 1contribution to GDP The direct contribution of Travel & Tourism to GDP in 2011 was ALL81.4bn (6.2% of GDP). This is forecast to rise by 5.6% to ALL85.9bn in 2012.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 by tourists. The direct contribution of Travel & Tourism to GDP is expected to grow by 5.4% pa to ALL145.4bn (7.0% of GDP) by 2022. ALBANIA: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO GDP Constant 2011 ALLbn % of whole economy GDP 160 8.0 140 7.0 120 6.0 100 5.0 80 4.0 60 3.0 40 2.0 20 1.0 0 0.0 2022 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2022 2022 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2022 The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and induced income impacts, see page 2) was ALL287.9bn in 2011 (21.8% of GDP) and is expected to grow by 5.1% to ALL302.7bn (22.1% of GDP) in 2012. It is forecast to rise by 5.3% pa to ALL505.0bn by 2022 (24.2% of GDP). ALBANIA: TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO GDP Constant 2011 ALLbn % of whole economy GDP 600 30.0 500 25.0 400 20.0 300 15.0 200 10.0 100 5.0 0 0.0 2011 2012 2022 2022 2022 2011 2012 2022 2022 Direct Indirect Induced Direct Indirect Induced 1 All values are in constant 2011 prices & exchange rates WTTC Travel & Tourism Economic Impact 2012 3
  • Travel & Tourisms contribution to employment Travel & Tourism generated 51,000 jobs directly in 2011 (5.5% of total employment) and this is forecast to grow by 4.3% in 2012 to 53,500 (5.6% 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 2022, Travel & Tourism will account for 70,000 jobs directly, an increase of 2.7% pa over the next ten years. ALBANIA: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT 000 jobs % of whole economy employment 80.0 7.0 70.0 6.0 60.0 5.0 50.0 4.0 40.0 3.0 30.0 2.0 20.0 10.0 1.0 0.0 0.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2022 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2022 2022 2022 The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply chain and induced income impacts, see page 2) was 183,500 jobs in 2011 (19.8% of total employment). This is forecast to rise by 3.7% in 2012 to 190,000 jobs (20.0% of total employment). By 2022, Travel & Tourism is forecast to support 242,000 jobs (22.5% of total employment), an increase of 2.4% pa over the period. ALBANIA: TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT 000 jobs % of whole economy employment 300.0 25.0 250.0 20.0 200.0 15.0 150.0 10.0 100.0 5.0 50.0 0.0 0.0 2011 2012 2022 2022 2022 2011 2012 2022 2022 Direct Indirect Induced Direct Indirect Induced4 WTTC Travel & Tourism Economic Impact 2012
  • 1Visitor Exports and Investment VISITOR EXPORTS Visitor exports are a key component of the direct contribution of Travel & Tourism. In 2011, Albania generated ALL182.4bn in visitor exports. In 2012, this is expected to grow by 5.0%, and the country is expected to attract 2,744,000 international tourist arrivals. By 2022, international tourist arrivals are forecast to total 3,769,000, generating expenditure of ALL322.3bn, an increase of 5.3% pa. ALBANIA: VISITOR EXPORTS AND INTERNATIONAL TOURIST ARRIVALS Constant 2011 ALLbn mn Foreign visitor exports as % of total exports 70.0 350 4 300 3.5 60.0 3 250 50.0 2.5 200 2 40.0 150 1.5 30.0 100 1 20.0 50 0.5 0 0 10.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2022 2022 0.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2022 2022 Foreign visitor exports (LHS) Foreign tourist arrivals (RHS) INVESTMENT Travel & Tourism is expected to have attracted capital investment of ALL21.0bn in 2011. This is expected to rise by 7.5% in 2012, and rise by 4.6% pa over the next ten years to ALL35.4bn in 2022. Travel & Tourism’s share of total national investment will rise from 4.9% in 2012 to 5.0% in 2022. ALBANIA: CAPITAL INVESTMENT IN TRAVEL & TOURISM Constant 2011 ALLbn % of whole economy GDP 40 8.0 35 7.0 30 6.0 25 5.0 20 4.0 15 3.0 10 2.0 5 1.0 0 0.0 2022 2022 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2022 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2022 1 All values are in constant 2011 prices & exchange rates WTTC Travel & Tourism Economic Impact 2012 5
  • Different components of Travel & Tourism1 Albania Travel & Tourisms Contribution to GDP: Business vs Leisure, 2011 Leisure travel spending (inbound and domestic) generated 75.1% of direct Travel & Tourism GDP in 2011 (ALL165.8bn) compared with 24.9% for Leisure spending business travel spending (ALL55.0bn). 75.1% Leisure travel spending is expected to grow by 4.4% in 2012 to ALL173.1bn, and rise by 5.7% pa Business spending to ALL302.4bn in 2022. 24.9% Business travel spending is expected to grow by 9.8% in 2012 to ALL60.4bn, and rise by 4.5% pa to ALL93.4bn in 2022. Albania Travel & Tourisms Contribution to GDP: Domestic vs Foreign, 2011 Domestic travel spending generated 17.2% of direct Travel & Tourism GDP in 2011 compared with 82.8% for visitor exports (ie foreign visitorForeign visitor spending spending or international tourism receipts). 82.8% Domestic travel spending is expected to grow by Domestic spending 9.4% in 2012 to ALL41.4bn, and rise by 5.8% pa 17.2% to ALL72.6bn in 2022. Visitor exports are expected to grow by 5.0% in 2012 to ALL191.5bn, and rise by 5.3% pa to ALL322.3bn in 2022. Albania Breakdown of Travel & Tourisms Total Contribution to GDP, 2011 The Travel & Tourism industry contributes to GDP and employment in many ways as detailed on Direct page 2. 28.3% Induced The total contribution of Travel & Tourism to 17.5% GDP is nearly four times greater than its direct contribution. Indirect 54.2% Indirect is the sum of: a (a) Supply chain 45.7% (b) Investment c b 7.1% (c) Government collective 1.4% 1 All values are in constant 2011 prices & exchange rates6 WTTC Travel & Tourism Economic Impact 2012
  • Country rankings:Absolute contribution, 2011 Travel & Tourisms Direct 2011 Travel & Tourisms Total 2011 Contribution to GDP (US$bn) Contribution to GDP (US$bn) 7 Italy 71.6 7 Italy 189.5 13 Turkey 33.0 14 Turkey 84.8 22 Greece 17.3 World Average 49.6 World Average 16.6 24 Greece 44.8 46 Croatia 6.1 46 Czech Republic 18.3 48 Czech Republic 6.0 53 Croatia 14.7 73 Bulgaria 2.0 66 Bulgaria 7.0 81 Cyprus 1.4 78 Cyprus 4.5 103 Albania 0.8 95 Albania 2.8 129 Bosnia-Herzegovina 0.4 124 Bosnia-Herzegovina 1.4 132 Montenegro 0.4 140 Montenegro 0.7 Travel & Tourisms Direct 2011 Travel & Tourisms Total 2011 Contribution to Employment 000 jobs Contribution to Employment 000 jobs 17 Italy 868.7 19 Italy 2231.4 World Average 782.4 World Average 1959.2 27 Turkey 509.6 21 Turkey 1938.8 39 Greece 349.3 42 Greece 758.4 46 Czech Republic 239.4 56 Czech Republic 506.8 68 Croatia 135.5 70 Bulgaria 364.0 80 Bulgaria 100.9 72 Croatia 311.2 107 Albania 51.1 94 Albania 183.4 128 Cyprus 25.3 122 Bosnia-Herzegovina 76.5 134 Bosnia-Herzegovina 20.8 124 Cyprus 74.3 150 Montenegro 11.0 156 Montenegro 23.2 Travel & Tourism 2011 Visitor 2011 Capital Investment (US$bn) Exports (US$bn) 12 Italy 17.5 6 Italy 42.5 14 Turkey 14.3 11 Turkey 27.6 23 Greece 5.5 19 Greece 17.7 World Average 4.1 31 Croatia 10.6 46 Czech Republic 2.3 39 Czech Republic 7.8 56 Croatia 1.4 World Average 6.5 72 Bulgaria 0.6 52 Bulgaria 4.2 96 Cyprus 0.3 62 Cyprus 2.7 108 Montenegro 0.2 74 Albania 1.8 111 Albania 0.2 105 Montenegro 0.7 124 Bosnia-Herzegovina 0.1 115 Bosnia-Herzegovina 0.7 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 average. 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 2012 7
  • Country rankings: Relative contribution, 2011 Travel & Tourisms Direct 2011 Travel & Tourisms Total 2011 Contribution to GDP % share Contribution to GDP % share 20 Croatia 11.0 23 Croatia 26.5 27 Montenegro 7.5 29 Albania 21.8 40 Greece 6.4 35 Cyprus 17.7 42 Albania 6.2 37 Greece 16.5 47 Cyprus 5.7 40 Montenegro 15.4 World Average 5.2 World Average 14.0 71 Turkey 4.3 61 Bulgaria 12.9 81 Bulgaria 3.6 72 Turkey 10.9 94 Italy 3.3 95 Italy 8.6 107 Czech Republic 2.8 98 Czech Republic 8.5 138 Bosnia-Herzegovina 2.0 111 Bosnia-Herzegovina 7.4 Travel & Tourisms Direct 2011 Travel & Tourisms Total 2011 Contribution to Employment % share Contribution to Employment % share 17 Croatia 12.3 21 Croatia 28.3 24 Greece 8.5 29 Albania 19.8 36 Montenegro 6.5 31 Cyprus 19.1 37 Cyprus 6.5 33 Greece 18.4 47 Albania 5.5 46 Montenegro 13.7 World Average 5.3 World Average 13.6 55 Czech Republic 4.9 60 Bulgaria 11.8 79 Italy 3.8 77 Czech Republic 10.3 90 Bulgaria 3.3 83 Italy 9.7 136 Turkey 2.1 96 Turkey 8.1 145 Bosnia-Herzegovina 1.8 120 Bosnia-Herzegovina 6.7 Travel & Tourism Investment 2011 Visitor Exports 2011 Contribution to Total Capital Investment % share Contribution to Total Exports % share 14 Montenegro 23.6 14 Montenegro 50.4 29 Greece 14.0 23 Albania 41.8 36 Croatia 11.4 24 Croatia 41.8 55 Turkey 8.6 35 Greece 28.5 World Average 8.3 36 Cyprus 28.3 73 Cyprus 6.8 World Average 15.9 83 Bulgaria 6.1 60 Turkey 15.0 102 Bosnia-Herzegovina 4.9 70 Bulgaria 11.9 103 Albania 4.8 83 Bosnia-Herzegovina 9.6 114 Czech Republic 4.4 99 Italy 6.7 122 Italy 4.0 118 Czech Republic 4.98 WTTC Travel & Tourism Economic Impact 2012
  • Country rankings:Real growth, 2012Travel & Tourisms Direct 2012 Travel & Tourisms Total 2012Contribution to GDP % growth Contribution to GDP % growth 1 Montenegro 16.8 1 Montenegro 14.9 48 Albania 5.6 51 Croatia 5.3 53 Croatia 5.3 55 Albania 5.1 World Average 2.7 World Average 2.5 117 Bosnia-Herzegovina 1.8 111 Turkey 1.9 118 Turkey 1.7 126 Bosnia-Herzegovina 1.0 154 Bulgaria -1.0 156 Cyprus -1.0 155 Cyprus -1.0 157 Czech Republic -1.1 157 Czech Republic -1.1 165 Bulgaria -2.0 162 Italy -1.6 167 Italy -2.2 168 Greece -2.1 179 Greece -4.5Travel & Tourisms Direct 2012 Travel & Tourisms Total 2012Contribution to Employment % growth Contribution to Employment % growth 1 Montenegro 19.3 1 Montenegro 16.9 132 Croatia 6.2 15 Croatia 6.4 57 Turkey 4.4 49 Albania 3.7 51 Albania 4.3 61 Turkey 3.4 World Average 2.2 World Average 1.9 92 Bosnia-Herzegovina 0.5 126 Cyprus -0.3 70 Greece 0.2 131 Bosnia-Herzegovina -0.5 96 Cyprus -0.2 139 Czech Republic -1.3 166 Czech Republic -1.2 154 Greece -2.3 114 Italy -1.3 156 Italy -2.5 179 Bulgaria -3.4 178 Bulgaria -4.6Travel & Tourism 2012 Visitor 2012Investment % growth Exports % growth 6 Croatia 14.2 8 Montenegro 13.6 17 Cyprus 12.0 17 Croatia 10.2 48 Albania 7.5 55 Albania 5.0 60 Montenegro 6.4 90 Bosnia-Herzegovina 2.8 85 Turkey 4.9 World Average 1.6 World Average 3.1 111 Bulgaria 1.0 123 Bosnia-Herzegovina 1.9 114 Greece 0.9 147 Czech Republic -0.4 146 Italy -0.9 161 Bulgaria -2.5 149 Cyprus -1.1 171 Italy -6.2 153 Turkey -1.6 178 Greece -12.6 159 Czech Republic -2.6 WTTC Travel & Tourism Economic Impact 2012 9
  • Country rankings: Long term growth, 2012 - 2022 Travel & Tourisms Direct 2012 - 2022 Travel & Tourisms Total 2012 - 2022 Contribution to GDP % growth pa Contribution to GDP % growth pa 1 Montenegro 11.8 1 Montenegro 12.4 20 Bosnia-Herzegovina 5.9 18 Bosnia-Herzegovina 6.2 36 Albania 5.4 44 Albania 5.3 64 Croatia 4.7 65 Croatia 4.6 82 Cyprus 4.2 World Average 4.1 World Average 4.1 99 Cyprus 4.0 125 Greece 3.3 128 Greece 3.2 139 Turkey 2.9 133 Turkey 3.0 151 Bulgaria 2.6 153 Bulgaria 2.5 156 Czech Republic 2.4 158 Czech Republic 2.2 169 Italy 1.9 173 Italy 1.6 Travel & Tourisms Direct 2012 - 2022 Travel & Tourisms Total 2012 - 2022 Contribution to Employment % growth pa Contribution to Employment % growth pa 1 Montenegro 8.3 1 Montenegro 8.8 51 Albania 2.7 51 Greece 2.7 57 Turkey 2.6 65 Albania 2.4 70 Greece 2.4 World Average 2.4 92 Bosnia-Herzegovina 1.9 87 Bosnia-Herzegovina 2.0 World Average 1.8 107 Cyprus 1.6 96 Cyprus 1.8 110 Turkey 1.4 114 Italy 1.5 115 Croatia 1.3 132 Croatia 1.1 137 Italy 0.9 166 Czech Republic -0.2 168 Czech Republic -0.5 179 Bulgaria -2.0 179 Bulgaria -2.2 Travel & Tourism Investment 2012 - 2022 Visitor Exports 2012 - 2022 Contribution to Capital Investment % growth pa Contribution to Exports % growth pa 1 Montenegro 13.2 2 Montenegro 9.0 18 Bosnia-Herzegovina 7.2 15 Bosnia-Herzegovina 6.2 61 Bulgaria 5.4 34 Albania 5.3 World Average 5.3 56 Croatia 4.6 65 Croatia 5.2 60 Greece 4.5 75 Turkey 4.9 62 Cyprus 4.5 81 Cyprus 4.8 World Average 3.5 90 Albania 4.6 147 Bulgaria 2.1 118 Czech Republic 3.9 153 Czech Republic 1.9 163 Italy 2.0 172 Italy 0.8 164 Greece 2.0 173 Turkey 0.710 WTTC Travel & Tourism Economic Impact 2012
  • Summary tables: Estimates & Forecasts 2011 2011 2012 2022 1 1 Albania ALLbn % of total Growth2 ALLbn % of total Growth 3 Direct contribution to GDP 81.4 6.2 5.6 145.4 7.0 5.4 Total contribution to GDP 287.9 21.8 5.1 505.0 24.2 5.3 4 Direct contribution to employment 51 5.5 4.3 70 6.5 2.7 4 Total contribution to employment 183 19.8 3.7 242 22.5 2.4 Visitor exports 182.4 41.8 5.0 322.3 27.6 5.3 Domestic spending 37.8 2.9 9.4 72.6 3.5 5.8 Leisure spending 165.8 12.6 4.4 302.4 14.5 5.7 Business spending 55.0 4.2 9.8 93.4 4.5 4.5 Capital investment 21.0 4.8 7.5 35.4 5.0 4.61 2011 constant prices & exchange rates; 22012 real growth adjusted for inflation (%); 32012-2022 annualised real growth adjusted for inflation (%); 4000 jobs 2011 2011 2012 2022 1 2 1 3 Europe US$bn % of total Growth US$bn % of total Growth Direct contribution to GDP 612.8 2.8 0.2 791.9 2.8 2.6 Total contribution to GDP 1,720.1 7.9 -0.3 2,177.5 7.8 2.4 4 Direct contribution to employment 9,937 2.7 0.4 11,262 3.0 1.2 4 Total contribution to employment 28,378 7.7 -0.3 30,599 8.1 0.8 Visitor exports 518.7 5.6 0.4 674.9 4.6 2.6 Domestic spending 734.5 3.4 0.4 970.8 3.5 2.8 Leisure spending 996.7 4.6 0.6 1,319.7 4.7 2.8 Business spending 275.6 1.3 -0.5 348.5 1.3 2.4 Capital investment 187.3 4.5 0.1 271.9 4.7 3.81 2 3 4 2011 constant prices & exchange rates; 2012 real growth adjusted for inflation (%); 2012-2022 annualised real growth adjusted for inflation (%); 000 jobs 2011 2011 2012 2022 1 2 1 3 Worldwide US$bn % of total Growth US$bn % of total Growth Direct contribution to GDP 1,972.8 2.8 2.8 3,056.2 3.0 4.2 Total contribution to GDP 6,346.1 9.1 2.8 9,939.5 9.8 4.3 Direct contribution to employment4 98,031 3.3 2.3 120,470 3.6 1.9 4 Total contribution to employment 254,941 8.7 2.0 327,922 9.8 2.3 Visitor exports 1,170.6 5.3 1.7 1,694.7 4.3 3.6 Domestic spending 2,791.2 4.0 3.5 4,547.6 4.6 4.6 Leisure spending 3,056.9 4.4 3.1 4,853.8 4.8 4.4 Business spending 968.4 1.4 2.5 1,476.2 1.5 4.0 Capital investment 743.0 4.9 3.5 1,320.4 5.1 5.61 2011 constant prices & exchange rates; 22012 real growth adjusted for inflation (%); 32012-2022 annualised real growth adjusted for inflation (%); 4000 jobs WTTC Travel & Tourism Economic Impact 2012 11
  • The economic contribution of Travel & Tourism: Real 2011 prices Albania (ALLbn, real 2011 prices) 2006 2007 2008 2009 2010 2011 2012E 2022F 1. Visitor exports 123.1 153.7 170.8 203.9 188.0 182.4 191.5 322.3 2. Domestic expenditure 35.3 36.4 31.7 36.6 36.3 37.8 41.4 72.6 3. Internal tourism consumption 158.9 190.6 202.9 241.0 224.9 220.8 233.5 396.0 (= 1 + 2 + government individual spending) 4. Purchases by tourism providers, -100.2 -120.4 -128.1 -151.6 -141.7 -139.4 -147.6 -250.5 including imported goods (supply chain) 5. Direct contribution of Travel & Tourism to GDP 58.7 70.3 74.8 89.3 83.2 81.4 85.9 145.4 (= 3 + 4) Other final impacts (indirect & induced) 95.5 114.4 121.7 145.4 135.3 132.4 139.8 236.7 6. Domestic supply chain 7. Capital investment 24.7 25.0 24.2 20.9 21.6 21.0 22.5 35.4 8. Government collective spending 3.5 3.8 3.7 3.8 3.8 3.9 4.1 6.1 9. Imported goods from indirect spending -1.3 -1.4 -1.5 -1.2 -1.1 -1.2 -1.4 -2.4 10. Induced 39.8 45.1 47.1 55.5 52.5 50.4 51.8 83.6 11. Total contribution of Travel & Tourism to GDP 220.9 257.1 269.9 313.6 295.3 287.9 302.7 505.0 (= 5 + 6 + 7 + 8 + 9 + 10) Employment impacts (000) 12. Direct contribution of Travel & Tourism to 46.0 52.2 53.2 61.4 52.6 51.1 53.3 69.5 employment Total contribution of Travel & Tourism 13. 175.8 194.1 195.0 219.1 189.6 183.4 190.2 242.0 to employment Other indicators 110.6 133.7 146.2 172.1 153.9 158.6 169.7 296.7 14. Expenditure on outbound travel12 WTTC Travel & Tourism Economic Impact 2012
  • The economic contribution of Travel & Tourism: Nominal prices Albania (ALLbn, nominal prices) 2006 2007 2008 2009 2010 2011 2012E 2022F 1. Visitor exports 103.3 133.3 154.6 190.2 182.5 182.4 197.2 446.1 2. Domestic expenditure 29.6 31.6 28.7 34.1 35.2 37.8 42.6 100.5 3. Internal tourism consumption 133.3 165.4 183.7 224.8 218.3 220.8 240.5 547.8 (= 1 + 2 + government individual spending) 4. Purchases by tourism providers, -84.1 -104.4 -116.0 -141.5 -137.6 -139.4 -152.0 -346.5 including imported goods (supply chain) 5. Direct contribution of Travel & Tourism to GDP 49.2 60.9 67.7 83.3 80.7 81.4 88.5 201.3 (= 3 + 4) Other final impacts (indirect & induced) 80.1 99.2 110.1 135.6 131.4 132.4 144.0 327.7 6. Domestic supply chain 7. Capital investment 20.7 21.7 21.9 19.5 21.0 21.0 23.2 49.0 8. Government collective spending 3.0 3.3 3.3 3.5 3.7 3.9 4.2 8.5 9. Imported goods from indirect spending -1.1 -1.2 -1.3 -1.1 -1.1 -1.2 -1.5 -3.3 10. Induced 33.4 39.1 42.6 51.8 50.9 50.4 53.3 115.8 11. Total contribution of Travel & Tourism to GDP 185.4 223.0 244.3 292.6 286.7 287.9 311.7 699.0 (= 5 + 6 + 7 + 8 + 9 + 10) Employment impacts (000) 12. Direct contribution of Travel & Tourism to 46.0 52.2 53.2 61.4 52.6 51.1 53.3 69.5 employment Total contribution of Travel & Tourism 13. 175.8 194.1 195.0 219.1 189.6 183.4 190.2 242.0 to employment Other indicators 92.8 115.9 132.3 160.5 149.4 158.6 174.8 410.7 14. Expenditure on outbound travel*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: RecommendedMethodological Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Officeof the European Communities (EUROSTAT), the Organisation for Economic Co-operation and Development (OECD) and the World TourismOrganization (UNWTO).Historical data for concepts has been benchmarked to match reported TSA data where available. WTTC Travel & Tourism Economic Impact 2012 13
  • The economic contribution of Travel & Tourism: Growth Albania Growth 1 (%) 2006 2007 2008 2009 2010 2011 2012E 2022F 1. Visitor exports 14.8 24.9 11.1 19.4 -7.8 -3.0 5.0 5.3 2. Domestic expenditure 16.9 3.3 -13.1 15.4 -0.7 4.2 9.4 5.8 3. Internal tourism consumption 15.2 20.0 6.5 18.7 -6.7 -1.8 5.7 5.4 (= 1 + 2 + government individual spending) 4. Purchases by tourism providers, 15.3 20.6 6.9 17.7 -6.9 -1.6 5.6 5.4 including imported goods (supply chain) 5. Direct contribution of Travel & Tourism to GDP 15.2 19.7 6.4 19.5 -6.9 -2.1 5.6 5.4 (= 3 + 4) Other final impacts (indirect & induced) 15.2 19.7 6.4 19.5 -6.9 -2.1 5.6 5.4 6. Domestic supply chain 7. Capital investment -3.9 1.4 -3.3 -13.7 3.6 -3.1 7.5 4.6 8. Government collective spending -1.3 6.8 -2.3 2.7 1.3 2.9 4.2 4.1 9. Imported goods from indirect spending 14.6 18.7 6.1 16.9 -6.8 -1.7 6.1 5.4 10. Induced 9.7 13.1 4.5 17.9 -5.4 -4.0 2.8 4.9 11. Total contribution of Travel & Tourism to GDP 11.4 16.3 5.0 16.2 -5.9 -2.5 5.1 5.3 (= 5 + 6 + 7 + 8 + 9 + 10) Employment impacts (000) 12. Direct contribution of Travel & Tourism to 9.7 13.6 1.9 15.4 -14.3 -2.8 4.3 2.7 employment Total contribution of Travel & Tourism 13. 6.1 10.4 0.5 12.4 -13.5 -3.3 3.7 2.4 to employment Other indicators 17.3 20.9 9.4 17.7 -10.5 3.1 7.0 5.7 14. Expenditure on outbound travel 1 2 2005-2011 real annual growth adjusted for inflation (%); 2011-2021 annualised real growth adjusted for inflation (%)14 WTTC Travel & Tourism Economic Impact 2012
  • Glossary Key Definitions Internal tourism consumption – total revenue generated Travel & Tourism – relates to the activity of travellers on within a country by industries that deal directly with trips outside their usual environment with a duration of less tourists including visitor exports, domestic spending and than one year. Economic activity related to all aspects of government individual spending. This does not include such trips is measured within the research. spending abroad by residents. This is consistent with total internal tourism expenditure in table 4 of the TSA: Direct contribution to GDP – GDP generated by RMF 2008. industries that deal directly with tourists, including hotels, travel agents, airlines and other passenger transport Business Travel & Tourism spending – spending services, as well as the activities of restaurant and leisure on business travel within a country by residents and industries that deal directly with tourists. It is equivalent to international visitors. total internal Travel & Tourism spending (see below) within Leisure Travel & Tourism spending – spending on leisure a country less the purchases made by those industries travel within a country by residents and international visitors. (including imports). In terms of the UN’s Tourism Satellite Account methodology it is consistent with total GDP Indirect and Induced Impacts calculated in table 6 of the TSA: RMF 2008. Indirect contribution – the contribution to GDP and Direct contribution to employment – the number jobs of the following three factors: of direct jobs within the Travel & Tourism industry. This is • Capital investment – includes capital investment spending consistent with total employment calculated in table 7 of the by all sectors directly involved in the Travel & Tourism TSA: RMF 2008. industry. This also constitutes investment spending by other Total contribution to GDP – GDP generated directly by industries on specific tourism assets such as new visitor the Travel & Tourism industry plus its indirect and induced accommodation and passenger transport equipment, as impacts (see below). Total contribution to employment – well as restaurants and leisure facilities for specific tourism the number of jobs generated directly in the Travel & use. This is consistent with total tourism gross fixed capital Tourism industry plus the indirect and induced contributions formation in table 8 of the TSA: RMF 2008. (see below). • Government collective spending – general government spending in support of general tourism activity. This can Direct Spending Impacts include national as well as regional and local government Visitor exports – spending within the country by international spending. For example, it includes tourism promotion, visitor tourists for both business and leisure trips, including information services, administrative services and other public spending on transport. This is consistent with total inbound services. This is consistent with total collective tourism tourism expenditure in table 1 of the TSA: RMF 2008. consumption in table 9 of TSA: RMF 2008. • Supply-chain effects – purchases of domestic goods Domestic Travel & Tourism spending – spending within and services directly by different sectors of the Travel & a country by that country’s residents for both business and Tourism industry as inputs to their final tourism output. leisure trips. Multi-use consumer durables are not included since they are not purchased solely for tourism purposes. Induced contribution – the broader contribution to This is consistent with total domestic tourism expenditure GDP and employment of spending by those who are in table 2 of the TSA: RMF 2008. Outbound spending by directly or indirectly employed by Travel & Tourism. residents abroad is not included here, but is separately Other Indicators identified according to the TSA: RMF 2008 (see below). Outbound expenditure – spending outside the country by Government individual spending – government spending residents on all trips abroad. This is fully aligned with total on individual non-market services for which beneficiaries outbound tourism expenditure in table 3 of the TSA: can be separately identified. These social transfers are RMF 2008. directly comparable to consumer spending and, in certain Foreign visitor arrivals – the number of arrivals of foreign cases, may represent public provision of consumer visitors, including same-day and overnight visitors (tourists) services. For example, it includes provision of services in to the country. national parks and museums. WTTC Travel & Tourism Economic Impact 2012 15
  • Methodological note In 2011, WTTC refined its methodology for estimating the direct contribution of Travel & Tourism to be fully consistent with the UN Statistics Division-approved 2008 Tourism Satellite Account: Recommended Methodological Framework (TSA:RMF 2008). Some further revisions to the research have been made in 2012 as part of WTTC’s ongoing commitment to align the research with the TSA:RMF 2008. This has involved further benchmarking of country reports to official, published TSAs, including for countries which are reporting data for the first time as well as updates to earlier years. As part of the alignment process we are now also able to isolate and exclude international travel flows related to education.   In addition to 181 individual country reports, one world report and 17 covering world regions and sub-regions, we also provide reports with combined results for special economic groupings including, for the first time in 2012, the G20 and SADC. Special economic groups G20 Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea,Turkey, UK, USA. SADC (Southern African Development Community) Angola, Botswana, Democratic Republic of Congo (DRC), Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, United Republic of Tanzania, Zambia, Zimbabwe. BRIC Brazil, Russia, India, China. APEC (Asia-Pacific Economic Cooperation) Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russian Federation, Singapore, Taiwan, Thailand, USA, Vietnam. OECD (Organisation for Economic Co-operation and Development) Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Japan, South Korea, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland, Turkey, UK, USA.16 WTTC Travel & Tourism Economic Impact 2012
  • 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 North Africa NORTHEAST Asia Antigua & Egypt China Luxembourg Barbuda Libya Aruba Hong Kong Malta Morocco Bahamas South Korea Netherlands European Union Tunisia Barbados Macau Poland Angola Bermuda Taiwan Portugal Benin Cayman Islands Mongolia Romania Botswana Cuba Australia Slovakia Former Burkina Faso Netherlands New Zealand Slovenia Antilles Burundi Dominica Fiji Spain Oceania Dominican Cameroon Kiribati Sweden Caribbean Republic Cape Verde Grenada Other Oceania UK Central African Guadeloupe Solomon Islands Albania Republic Chad Haiti Tonga Armenia Europe Comoros Jamaica Vanuatu Azerbaijan Democratic Asia Martinique Bangladesh Belarus Republic of Congo Bosnia Ethiopia Puerto Rico India Herzegovina South Asia Gabon St Kitts & Nevis Nepal Croatia Gambia St Lucia Pakistan Iceland Other Europe St Vincent & the Ghana Sri Lanka Kazakhstan Americas Grenadines Trinidad & Guinea Maldives Kyrgyzstan Africa Tobago Ivory Coast UK Virgin Islands Brunei Macedonia SUB-SAHARAN Kenya US Virgin Islands Cambodia Moldova Lesotho Argentina Indonesia Montenegro SouthEast Asia Madagascar Belize Laos Norway Malawi Bolivia Malaysia Russia Mali Brazil Myanmar Serbia Papua New Mauritius Chile Switzerland Guinea Mozambique Colombia Philippines Turkey Namibia Costa Rica Singapore Ukraine Latin America Niger El Salvador Thailand Bahrain Nigeria Ecuador Vietnam Iran Republic of Congo Guatemala Austria Israel Reunion Guyana Belgium Jordan Rwanda Honduras Bulgaria Kuwait Middle East Sao Tome & Nicaragua Cyprus Lebanon Principe Senegal Panama Czech Republic Oman European Union Seychelles Paraguay Denmark Qatar Europe Sierra Leone Peru Estonia Saudi Arabia South Africa Suriname Finland Syria Sudan Uruguay France UAE Swaziland Venezuela Germany Yemen Tanzania Canada Greece America North Togo Mexico Hungary Uganda USA Ireland Zambia Italy Zimbabwe Latvia WTTC Travel & Tourism Economic Impact 2012 17
  • The World Travel & Tourism Council is the forum for business leaders in the Travel & Tourism industry. With the Chairs and Chief Executives of the 100 foremost Travel & Tourism companies as its Members, WTTC has a unique mandate and overview on all matters related to Travel & Tourism. WTTC works to raise awareness of Travel & Tourism as one of the world’s largest industries, supporting some 255 million jobs and generating 9% of global GDP in 2011. Together with its research partner, Oxford Economics, WTTC produces comprehensive reports on an annual basis – with updates whenever required – to quantify, compare and forecast the economic impact of Travel & Tourism on 181 economies around the world. It also publishes a World report highlighting global trends, as well as reports on regions, sub-regions and special economic groupings. To download one-page summaries, the full reports or spreadsheets, visit www.wttc.org Assisting WTTC to provide tools for analysis, benchmarking, forecasting and planning. Over the last 30 years Oxford Economics has built a diverse and loyal client base of over 300 organisations worldwide, including international organisations, governments, central banks, and both large and small businesses. Headquartered in Oxford, England, with offices in London, Belfast, Paris, the UAE, Singapore, Philadelphia, New York and San Francisco, Oxford Economics employs over 70 full-time, highly qualified economists and data specialists, while maintaining links with a network of economists in universities worldwide. For more information please take advantage of a free trial on our website, www.oxfordeconomics.com, or contact John Gaster, Oxford Economics, Abbey House, 121 St Aldates, Oxford, OX1 1HB, UK. Tel: +44 (0) 1865 268 900; email: jtholstrup@oxfordeconomics.com18 WTTC Travel & Tourism Economic Impact 2012
  • CHAIRMAN OUTRIGGER ENTERPRISES DOLPHIN CAPITAL LOTTE GROUP INVESTORS Dong-Bin Shin VIRTUOSOABERCROMBIE & KENT Dr Richard R Kelley Miltos Kambourides Chairman Matthew D Upchurch CTCGeoffrey J W Kent Chairman Emeritus Managing Partner CEOFounder, Chairman & CEO MESSE BERLIN GMBH RIOFORTE INVESTMENTS SA DUBAILAND Raimund Hosch WILDERNESS SAFARISPRESIDENT & CEO Manuel Fernando Espírito Santo Mohammed Al Habbai President & CEO Andy Payne Chairman CEO CEOWORLD TRAVEL & MGM RESORTSTOURISM COUNCIL SABRE HOLDINGS DUBAI AIRPORTS INTERNATIONAL ZAGAT SURVEY LLCDavid Scowsill Tom Klein INTERNATIONAL Jim Murren Tim Zagat President Paul Denis Griffiths CEO Co-Founder, Co-Chair & CEO CEOVICE CHAIRMEN SHUN TAK HOLDINGS MISSION HILLS GROUP Pansy Ho EAST JAPAN RAILWAY Dr Ken Chu INDUSTRY PARTNERSGLOBAL LEISURE PARTNERS Managing Director COMPANY Chairman & CEOMark Harms Satoshi Seino DELOITTEChairman & CEO TRAVEL GUARD WORLDWIDE President & CEO MÖVENPICK HOTELS & Adam Weissenberg Jeffrey C Rutledge RESORTS Global Segment Lead - TravelMANDARIN ORIENTAL Chairman & CEO EXPEDIA INC Jean Gabriel Pérès Hospitality and LeisureEdouard Ettedgui Dara Khosrowshahi President & CEOGroup Chief Executive TRAVELPORT President & CEO Gordon Wilson NH HOTELS REGIONAL MEMBERSSILVERSEA CRUISES President & CEO FAIRMONT RAFFLES HOTELS Mariano Pérez ClaverManfredi Lefebvre d’Ovidio di INTERNATIONAL Chairman DOURO AZULBalsorano de Clunieres TSOGO SUN GROUP Chris J Cahill Mario FerreiraChairman Jabu Mabuza COO ORBITZ WORLDWIDE CEO Deputy Chairman Barney HarfordTHE TRAVEL CORPORATION GLOBAL BLUE GROUP CEOBrett Tollman VISITBRITAIN Per Setterberg HONORARY MEMBERSPresident & Chief Executive Christopher Rodrigues, CBE President & CEO PAN PACIFIC HOTEL GROUP Chairman Patrick Imbardelli ACCORTUI AG HERTZ CORPORATION President & CEO Gérard PélissonDr Michael Frenzel Mark Frissora Co-Chairman, Supervisory BoardChairman of the Executive Board GLOBAL MEMBERS Chairman & CEO, Hertz PHOCUSWRIGHT Corporation Philip C Wolf AMERICAN EXPRESS President & CEO COMPANYWORLD TRAVEL & TOURISM ALTOURCOUNCIL Alexandre Chemla Michel Taride Jonathan S LinenJean-Claude Baumgarten President, Hertz International & QUNAR Adviser to Chairman President Executive Vice President, Hertz Chenchao Zhuang Co-Founder & CEO ANDRÉ JORDAN GROUPWYNDHAM WORLDWIDE AMADEUS IT GROUP SA CorporationStephen P Holmes Luis Maroto André JordanChairman & CEO HNA GROUP RADISSON EDWARDIAN Chairman President & CEO Feng Chen HOTELS Jose Antonio Tazón Jasminder Singh Chairman of the Board FT MOORE P/L Chairman of the Board Chairman & CEOEXECUTIVE COMMITTEE Sir Frank Moore, AO HOGG ROBINSON GROUP Chairman AVIS BUDGET GROUP REED TRAVEL EXHIBITIONSACCOR Ronald L Nelson David Radcliffe Chief Executive Richard Mortimore THE HERTZ CORPORATIONDenis Hennequin Chairman & CEO Managing Director Frank OlsenChairman & CEO HONG KONG & SHANGHAI Retired Chairman of the Board BEIJING CAPITAL RELAIS & CHÂTEAUXAMERICAN EXPRESS HOTELS INTERNATIONAL AIRPORT CO Jaume TàpiesCOMPANY Clement Kwok NOMURA INTERNATIONAL Zhiyi Dong PresidentWilliam Glenn CEO & MD Lord Colin Marshall of ChairmanPresident, Global Merchant Knightsbridge HOTELPLAN HOLDING R TAUCK & PARTNERS ChairmanNetwork Group Guanghui Zhang Hans Lerch Robin Tauck President & CEO PresidentBEIJING TOURISM GROUP Vice Chairman & CEO TZ ASSOCIATESQiang Duan BEIJING TOURISM GROUP Tommaso Zanzotto HUANGSHAN TOURISM S-GROUP CAPITAL PresidentChairman Yi Liu GROUP MANAGEMENT President Vladimir YakushevBHARAT HOTELS Jiwei Xu UNIVERSAL MEDIA Managing PartnerJyotsna Suri BOSCOLO GROUP Chairman Carl RudermanChairperson & Managing Director Giorgio Boscolo Chairman CEO HYATT HOTELS CORPORATION SHANGRI-LA INTERNATIONAL HOTELCARLSON Mark S Hoplamazian MANAGEMENTHubert Joly CANNERY ROW COMPANY President and CEO CHAIRMAN EMERITUS Greg DoganPresident, CEO & Director Ted J Balestreri IBM President & CEO Chairman & CEO RRE VENTURESEMIRATES Marty Salfen SOUTH AFRICAN AIRWAYS James D Robinson IIIGary Chapman CHINA INTERNATIONAL General Manager, Global Travel & General Partner Sizakele MzimelaPresident Group Services & TRAVEL SERVICE, HEAD Transportation Industry WTTC Chairman (1990-1994) CEODnata, Emirates Group OFFICE (CITS) Rong Chen INDIAN HOTELS COMPANY LTD SPENCER STUART IMMEDIATE PASTETIHAD AIRWAYS CEO RK Krishna Kumar Jerry NoonanJames Hogan Vice Chairman CHAIRMAN Co-leader, Global Hospitality &CEO CHOICE HOTELS JONES LANG LASALLE Leisure Practice INTERNATIONAL GLOBAL ALLIANCE ADVISORSHILTON WORLDWIDE Stephen P Joyce HOTELS LLC Arthur de Haast STARWOOD HOTELS & Vincent A WolfingtonChristopher J Nassetta President & CEO Global CEO RESORTS WORLDWIDE, INC ChairmanPresident & CEO Frits D van Paasschen COSTA CRUISES WTTC Chairman (2004-2007) President & CEOINTERCONTINENTAL HOTELS Pier Luigi Foschi JTB CORPGROUP PLC Chairman & CEO Hiromi Tagawa TAJ HOTELS RESORTS &Richard Solomons President & CEO FORMER CHAIRMEN PALACESChief Executive CTRIP.COM INTERNATIONAL Raymond Bickson Min Fan LEBUA HOTELS & RESORTS INTERCONTINENTAL HOTELS Managing Director & CEOJUMEIRAH GROUP CEO CO LTD GROUP PLCGerald Lawless Rattawadee Bualert Sir Ian Prosser TAP PORTUGALExecutive Chairman DEPARTMENT OF TOURISM & President Retired Chairman Fernando Pinto COMMERCE MARKETING, WTTC Chairman (2001-2003) CEOMARRIOTT INTERNATIONAL GOVERNMENT OF DUBAI Deepak OhriJW Marriott, Jr Khalid A bin Sulayem CEO AIG INC TRANSAERO AIRLINESChairman & CEO Director General Harvey Golub Alexander Pleshakov LOEWS HOTELS Non-Executive Chairman CEOArne M Sorenson DIAMOND RESORTS Jonathan M Tisch WTTC Chairman (1996-2001)President & CEO Stephen J Cloobeck Chairman & CEO UNITED AIRLINES Chairman & CEO ROBERT H BURNS HOLDINGS Jeff SmisekMELIÁ HOTELS LOS ANGELES WORLD LTD President & CEOINTERNATIONAL DLA PIPER AIRPORTS Robert H BurnsSebastián Escarrer Sir Nigel Knowles Gina Marie Lindsey Jim Compton ChairmanVice Chairman Co-CEO Executive Director Executive Vice President & CEO WTTC Chairman (1994-1996)
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