Tourism is a significant industry that plays a crucial role in the global economy. People travel for various reasons, such as leisure, business, and education.
Tourists spend money on accommodation, food, transportation, and other activities during their travels. But how much money is spent on tourism each year? Let’s explore!
The Global Picture
According to the World Tourism Organization (UNWTO), international tourist arrivals reached 1.5 billion in 2019, representing a 4% increase from the previous year. The same report also states that international tourism receipts amounted to US$1.5 trillion in 2019.
Regional Breakdown
- Europe – 713 million international tourist arrivals, generating US$570 billion
- Asia-Pacific – 399 million international tourist arrivals, generating US$502 billion
- Americas – 217 million international tourist arrivals, generating US$333 billion
- Africa – 67 million international tourist arrivals, generating US$38 billion
- Middle East – 64 million international tourist arrivals, generating US$73 billion
The Impact of Domestic Tourism
While most of the attention is given to international tourism, domestic tourism also plays an essential role. Domestic tourists are individuals who travel within their own country for leisure or business purposes.
In many countries like India and China, domestic tourism accounts for the majority of total tourism expenditure. In the United States alone, domestic travelers spent approximately $972 billion in 2019.
The Future of Tourism Expenditure
The COVID-19 pandemic has significantly impacted global tourism expenditure in recent times. In 2020 alone, the UNWTO estimates that international tourist arrivals decreased by around 74%. This decrease has resulted in losses worth up to US$1.3 trillion in tourism exports.
However, the UNWTO also predicts that tourism could recover by 2023, with a projected growth rate of 4% to 5%. As more countries reopen their borders and travel restrictions ease, it is expected that tourists will once again start spending money on tourism-related activities.
Conclusion
Tourism expenditure is a crucial factor in the global economy. While the COVID-19 pandemic has caused a significant decline in tourist arrivals and expenditure, there are signs of recovery on the horizon. As we move forward, it is essential to ensure that tourism remains sustainable and benefits both local communities and the environment.
References:
- World Tourism Organization – https://www.unwto.org/
- Statista – https://www.statista.com/topics/962/global-tourism/
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