Tourism 'worth $15 trillion in 10 years'
The global tourism industry is expected to grow at such a rate that it is worth $15 trillion (£7.5 trillion) by 2018, according to a new report.Research by the World Travel and Tourism Council (WTTC) found that the industry is set to generate close to $8 trillion this year.
Figures for the coming season reflect something of a downturn in growth, to three per cent compared to 3.9 per cent last year.
WTTC president Jean-Claude Baumgarten explained: "Challenges come from the US slowdown and the weak dollar, higher fuel costs and concerns about climate change.
"However, the continued strong expansion in emerging countries - both as tourism destinations and as an increasing source of international visitors - means that the industry's prospects remain bright into the medium term."
Regionally, Africa, the Asia Pacific and the Middle East have been propping up global expansion figures, with growth rates of 5.9 per cent, 5.7 per cent and 5.2 per cent respectively, all of which are above the world average.
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