Travel and tourism: “robust growth ahead”

Worldwide, the travel and tourism market is poised to return to its growth rates of former years. And the US is expected to particularly benefit from strong European and UK traffic because of the strong Pound and Euro, announced the World Travel & Tourism Council. It’s 2004 forecast envisioned global tourism set to grow 3.7%, which almost matches its historical 4% growth a year prior to war, terrorism and SARS. To help reach its potential, the World Travel & Tourism Council has launched a strategy called “Blueprint for New Tourism.” The strategy provides a framework for a better partnership between private and public sectors. Among other goals, it attempts to help governments to recognize travel and tourism as top priorities. Travel and tourism’s contribution to the US economy is evident in its representing 4.1% of total GDP. The combined direct and indirect impact of the travel and tourism sector is expected to total 10.7% this year, according to the council. The council predicted worldwide a “robust recovery” in 2005. Report by David Wilkening