WTTC: Travel and tourism sector to grow, outpace wider economic growth, in 2013
World Travel and Tourism Council (WTTC) president and CEO David Scowsill, speaking at the CAPA Australia Pacific Aviation Summit, stated (07-Aug-2013) the outlook for the travel and tourism sector in 2013 "continues to be positive", despite challenged economic background. Contribution to GDP is forecast to grow 3% in 2013, once again outpacing the total global economy. This trend is set to continue in the next 10 years, with average growth of 4.5% p/a through to 2023, outpacing growth in the wider economy and outpacing other industries such as retail, mining and public services. By 2023, total economic contribution will account for 10% of GDP, or USD10.5 trillion. One in 10 jobs (ie 338 million jobs) will be directly or indirectly related to tourism. Two thirds of new tourism-related jobs will be in Asia.