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Global Travel and Tourism Exceeded $6 Trillion in 2005

March 8, 2006

Global Travel and Tourism Exceeded $6 Trillion in 2005
March 8, 2006 – According to the 2006 Tourism Satellite Accounting research released Monday by the World Travel & Tourism Council and Accenture, travel and tourism spending exceeded $6 trillion globally in 2005. This reflects an industry growth of 5.7 percent from 2004 to 2005.

The WTTC reported that various events, including the December 2004 Tsunami and the 2005 bombings in London and Egypt, had local impact but did not materially affect global tourism.

"We are witnessing the power, speed and vitality of travel and tourism and how they can bring economic opportunity and jobs to people and economies seeking sustainable development," said WTTC President, Jean-Claude Baumgarten.

WTTC worldwide forecasts for 2006 include:

  • The industry is expected to grow 4.6 percent, to total $6.5 trillion in 2006.


  • The 10-year annualized growth (2007-2016) forecast is 4.2 percent per annum, demonstrating an outlook for strong long-term growth.


  • Visitor exports are expected to grow to nearly $900 billion in 2006 due to increases in international travel. This increase represents real growth of 6.5 percent.


  • The travel and tourism industry is expected to represent 3.6 percent of total Gross Domestic Product (GDP) in 2006.


  • The global travel and tourism industry is expected to produce 2.5 million new jobs in 2006, comprising 76.7 million jobs, or 2.8 percent of total world employment.

"Insight into how and where the Travel & Tourism industry is growing is critical for companies that want to improve their performance and take advantage of that growth, either in their own countries or around the world," said Peter Franz, Global Managing Director of Accenture’s Transportation and Travel Services practice . "As airlines, lodging companies and tour operators work to improve their bottom line, having usable data about both the industry and their own business is essential. The high performers will be those that can manage and use industry and customer data to make meaningful decisions."

Richard Miller, Executive Vice President of WTTC said, "The years 2004 to 2006 will be seen as a period of significant growth for the industry. Although events like the tsunami, bombings and hurricanes, as well as a major increase in the price of oil, could have dampened demand, it appears that consumers are becoming more resilient, and travel and tourism continue to be a significant part of everyday life."

The 2006 Tourism Satellite Accounting research is posted on for immediate access.

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