Getting away from life for awhile is something that everyone needs to do in order to relax. For many people, that means going someplace new to explore. Whether that’s a tropical destination or just a camping trip out into the woods over in the next town, everyone gets away from life for a day or two here or there, no matter how busy they are.
Interesting Tourism Industry Statistics
There were over 1 billion international tourism visits logged around the world in 2013.
The expected economic impact of world tourism is expected to hit over $10 trillion by the year 2023. This makes the value of investing into this industry very clear for every business in every sector. When tourism is present, new revenues are present. In terms of total business investments, the tourism industry gets nearly 5% of all investment dollars made by businesses every year.
Essential Facts About the Tourism Industry
1. The tourism industry directly employs 101 million jobs around the world. The direct impact of this industry is responsible for over 8% of the world’s total employment.
2. That total global contribution to the world’s GDP by tourist dollars was over $6 trillion in 2012.
3. The average annualized growth in this industry is expected to be 4%-5% over the next decade.
Takeaway: There’s nothing more fun than going on a nice holiday. To take that holiday, money needs to be spent. Although some households are trying to save money by taking a “staycation” to visit local sights instead of traveling, the growth of this industry is undeniable. More than 1 billion international visits occur every year and all it takes is an average spending of $1,000 per person to reach $1 trillion in total revenues. The impact is undeniable.
Key Statistics About the Tourism Industry to Know
1. By 2023, tourism is expected to directly impact over 300 million jobs.
2. Over the next decade, nearly half a billion more international tourist arrivals are expected around the world.
3. Leisure spending accounts for 76% of the total tourism dollars that are spent every year.
4. Domestic spending accounts for over 70% of tourism’s contribution to each country’s GDP.
5. Indirect spending accounts for over 50% of the money a tourist spends every year, with 33% of that occurring within the supply chain.
6. 2009 was the only year where tourism imports decreased.
7. Business travel spending is expected to rise by 4.1% in the next decade.
8. Domestic leisure travel is expected to have the largest bump in growth over the next 10 years.
Takeaway: Although all demographics are expected to increase over the next decade, the biggest increases are expected in domestic leisure spending. Going to a different country is always a rewarding experience, but more people will look for more opportunities to see something within their own country that they haven’t seen before. This will only help domestic GDPs be able to grow and will likely causes more local spending to attract tourist dollars in each global community.