Friday, March 25, 2011
Travel & Tourism Will Employ 1 in 10 Workers by 2021
RCI Ventures: A staggering one in ten workers will be employed as a result of travel and tourism within the next decade, but governments need to do more to support the industry.
That’s the view of the World Travel & Tourism Council (WTTC), whose latest research states that even though economic growth faces many challenges, the travel and tourism industry is still expected to be one of the world’s fastest growing sectors, creating three million new jobs in 2011 alone.
The figures were unveiled in the WTTC’s new Economic Impact Research for 2011 to 2021, which reveals the power of travel and tourism to boost economic growth and employment.
WTTC president and CEO, David Scowsill called on support from governments and policy makers across the globe to ensure that the industry could fulfill its massive potential.
“Over the next ten years, travel & tourism's total contribution to GDP is forecast to rise by 4.2 per cent per year to $9.2 trillion, bringing with it 65 million new jobs. By 2021, one in ten workers on the planet will be employed as a result of travel and tourism,” added Scowsill.
To realise sustainable growth, WTTC is calling for policies that:
• Minimise barriers to travel with efficient and transparent visa processes, and incorporate taxation reflecting the export value of the industry, and introduce rationalised and uniform security measures.
• Facilitate investment to maintain and expand capacity in a sustainable way, and also underpin improvements in quality, competitiveness and productivity.
• Support the human capital needs of the industry through appropriate skills development and employment legislation.
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