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International Luxury Travel Market Cannes, France December 8, 2003. The Perfect Storm. WTTC’s 2002 Tourism Satellite Accounting Research. WTTC’s 2003 Tourism Satellite Accounting Research. Base Case & Pessimistic War Scenario. Components of Travel & Tourism Demand. World - Personal T&T. - PowerPoint PPT Presentation
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International LuxuryTravel Market
Cannes, FranceDecember 8, 2003
The PerfectStorm
WTTC’s 2002Tourism Satellite Accounting
Research
WTTC’s 2003Tourism Satellite Accounting
Research
Base Case & Pessimistic War Scenario
Components of Travel & Tourism Demand
2003 Travel & Tourism Spending by Visitors
US$ 2.1 Trillion in 2003 9.9% of Total Personal
Consumption in Year 2003 2.2% Real Growth in 2003 4.8% Real Growth in 2004 3.7% Real Growth per annum
(2004-2013)
World - Personal T&T
2003 T&T Spending by Companies and Government Agencies
US$ 489 Billion in 2003US$ 423 Bn CorporateUS$ 66 Bn Government
0.6% Real Growth in 2003 4.8% Real Growth in 2004 3.7% Real Growth per
annum (2004-2013)
World - Business Travel
2003 Government Travel & Tourism
Services Provided to Individual Visitors and the Community-at-large
US$ 224 Billion in 2003 3.9% of Total Government
Expenditures in 2003 2.8% Real Growth in 2003 3.0% Real Growth in 2004 3.0% Real Growth per annum
(2004-2013)
World - Gov’t T&T Expenditures
2003 T&T Facilities, Equipment and Infrastructure by Public and Private Sectors
US$ 686 Billion in 2003 9.6% of Total Capital
Investment in 2003 2.8% Real Growth in 2003 3.9% Real Growth in 2004 4.3% Real Growth per annum
(2004-2013)
World - T&T Capital Investment
2003 T&T Spending by Inbound
Visitors US$ 531 Billion in 2003 5.9% of Total Exports in
2003 3.0% Real Growth in 2003 10.7% Real Growth in 2004 7.1% Real Growth per annum
(2004-2013)
World - Visitor Exports
2003 Consumer and Capital Goods Exported for Visitors and Travel & Tourism Companies
US$ 479 Billion in 2003 5.3% of Total Exports in
2003 8.9% Real Growth in 2003 8.9% Real Growth in 2004 7.2% Real Growth per annum
(2004-2013)
World - Other T&T Exports
Perspectives of Travel &
Tourism Supply / Production
Consumption = Travel & Tourism Industry
Demand = Travel & Tourism Economy
2003 Travel & Tourism GDP Associated with Visitor Consumption (Direct)
US$ 1.3 Trillion in 2003 3.7% of Total Gross Domestic
Production in 2003 1.1% Real Growth in 2003 4.8% Real Growth in 2004 3.6% Real Growth per annum
(2004-2013)
World - T&T Industry GDP
2003 Travel & Tourism GDP Associated with T&T Demand (Direct and Indirect)
US$ 3.5 Trillion in 2003 10.2% of Total Gross
Domestic Production in 2003
2.0% Real Growth in 2003 4.8% Real Growth in 2004 3.9% Real Growth per
annum (2004-2013)
World - T&T Economy* GDP
*WTTC Concept
2003 Travel & Tourism
Employment assoc. with Visitor Consumption (Direct)
67.4 Million Jobs in 2003 2.6% of Total Employment
in 2003 0.1% Real Growth in 2003 2.2% Real Growth per
annum (2004-2013)
World - T&T Industry Employment
2003 Travel & Tourism
Employment assoc. with T&T Demand (Direct and Indirect)
195 Million Jobs in 2003 7.6% of Total Employment
in 2003 1.5% Real Loss in 2003 2.4% Real Growth per
annum (2004-2013)
World - T&T Economy* Employment
*WTTC Concept
Regional and National
Perspectives
T&T Economy GDP
0%
5%
10%
15%
20%
0% 2% 4% 6% 8% 10%
North America
European Union
Northeast Asia
Other Western Europe
Latin America
Central and Eastern Europe
Oceania
Southeast AsiaMiddle East
South Asia
North Africa
Caribbean
Sub-Saharan Africa
T&T Economy GDP Growth 2004 -2013(Percent Annualized)
2003
T&
T E
cono
my
GD
P(P
erce
nt o
f Tot
al)
World Average
T&T Economy GDP
North America
European Union
Northeast Asia
Other Western Europe
Latin America
Central and Eastern Europe
Oceania
Southeast AsiaMiddle East
South Asia
North Africa
Caribbean
Sub-Saharan Africa
Size Represents 2003 US$
T&T Economy GDP
North America
European Union
Northeast Asia
Other Western Europe
Latin America
Central and Eastern Europe
Oceania
Southeast AsiaMiddle East
South Asia
North Africa
Caribbean
Sub-Saharan Africa
Top = High % of GDPBottom = Low % of GDP
Hig
h %
of G
DP
Low
% o
f GD
P
T&T Economy GDP
North America
European Union
Northeast Asia
Other Western Europe
Latin America
Central and Eastern Europe
Oceania
Southeast AsiaMiddle East
South Asia
North Africa
Caribbean
Sub-Saharan Africa
Left = Slow GrowthRight = Fast Growth
Slow Growth Fast Growth
T&T Demand
1 Angola 9.52 Mexico 9.53 Turkey 9.24 China 8.95 India 8.86 Botswana 8.57 Laos 8.48 Malaysia 8.29 Hong Kong 8.110 Vanuatu 7.8
WTTC’s Top Ten Industry Growers(2004-2013 Annualized Real Growth,
Percent)
T&T Capital Investment
0%
5%
10%
15%
20%
25%
0% 2% 4% 6% 8%
North America
European Union
Northeast Asia
Other Western Europe
Latin AmericaCentral and Eastern Europe
Oceania
Southeast Asia
Middle East
South Asia
North Africa
Caribbean
Sub-Saharan Africa
2003
T&
T C
apita
l Inv
estm
ent
(Per
cent
of T
otal
)
T&T Capital Investment Growth 2003 -2013 (Percent Annualized)
World Average
T&T Capital Investment
1 Mexico 10.52 Turkey 8.53 Finland 8.04 China 8.05 Argentina 7.76 Malaysia 7.67 India 7.58 Singapore 7.49 Chinese Taipei 6.910 Hong Kong 6.8
WTTC’s Top Ten Investors(2004-2013 Annualized Real Growth,
Percent)
Travel & Tourism: Resilient and Renewable