62 World Travel Market Latin America Show Guide 2015 WTM Latin America 2015
resilient economic activity and a fundamental contributor to the economic recovery by generating billions of dollars in exports and creating millions of jobs. “This has been true for destinations all around
the world, but particularly for Europe, as the region struggles to consolidate its way out of one of the worst economic periods in its history.” Rifai added the record numbers achieved in
2014 are “remarkable…considering that different parts of the world continue to face significant geopolitical and health challenges, while the global economic recovery remains rather fragile and uneven. Key to global recovery, says Rifai, is a growing commitment among governments to the tourism sector across the world. “This is encouraging, not in the least because tourism is one of the sectors that is best able to deliver on employment at a moment when job creation need to be a priority to all,” added Rifai.
Global growth by region In 2014, the Americas (+7%) and Asia-Pacific (+5%) registered the strongest growth, while Europe (+4%), the Middle East (+4%) and Africa (+2%) grew at a slightly more modest pace, according to UNWTO. By sub region, North America (+8%) saw
the best results, followed by North-East Asia, South Asia, Southern and Mediterranean Europe, Northern Europe and the Caribbean, all increasing by 7%. Figures for 2014 tourism receipts are expected to be up on 2013, when international tourism receipts reached US$1,197 billion, US$ 230 billion more than in the pre-crisis year of 2008.
for the Index, tourism performance is expected to improve in 2015, though expectations are less upbeat than a year ago.
Demand from traditional source markets picks up Improvement in expenditure on international tourism from traditional source markets compensated for the slowdown of the large emerging markets in 2014, which had been driving tourism growth in previous years. For example, the total number of trips abroad
from China is estimated to have increased by 11 million to 109 million in 2014. Expenditure was up by 17% in the first three quarters of 2014, a strong result but slower than in previous years (40% in 2012 and 26% in 2013, respectively). China is the world’s largest outbound market since 2012 with a total expenditure of US$ 129 billion in 2013.
For 2015, growth is expected to be stronger in
Asia-Pacific and the Americas. “We expect demand to continue growing in 2015 as the global economic situation improves even though there are still plenty of challenges ahead. On the positive side, oil prices have declined to a level not seen since 2009. This will lower transport costs and boost economic growth by lifting purchasing power and private demand in oil importing economies. “Yet, it could also negatively impact some of the oil exporting countries which have emerged as strong tourism source markets,” Rifal added. The positive outlook for 2015 is confirmed by the UNWTO Confidence Index. According to the 300 tourism experts consulted worldwide
Among the other two main emerging markets,
the Russian Federation (-6%) clearly lost strength in 2014, while Brazil still grew by 2%, despite the appreciation of the US dollar against the Brazilian real and slower economic growth. Some smaller emerging markets saw
expenditure grow substantially, with Saudi Arabia, India, the Philippines and Qatar all reporting increases of 30% or more. A pickup in demand from traditional source
markets compensated for the slowdown of the large emerging markets. Expenditure from the United States, the second largest outbound market in the world, grew by 6%. Also of note is the rebound of France (+11%), Italy (+6%) and the United Kingdom (+4%), according to UNWTO. n
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