March 06, 2019

Global Travel Industry Seen 'Resilient' Despite Slowing Growth

The global travel industry is likely to expand by 4 percent in 2019
despite slowing economic growth in key areas such China and Europe.

The travel and tourism sector grew 3.9 percent to $8.8 trillion in 2018, accounting for 10.5 percent of global gross domestic product, and outpacing global GDP growth of 3.2 percent, according to the World Travel & Tourism Council.

Based on data from 185 countries, the group forecasts steady growth of 4 percent this year, given continued demand from China, the second largest travel and tourism market behind the United States, and other countries in Asia.

Source: World Travel & Tourism Council

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