The world in numbers: Industries: Travel and Tourism

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The world in numbers: Industries

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The current revival in tourism revenue looks more like a return to the good life than a temporary bump in business. This optimistic outlook depends somewhat on geopolitical ructions, especially in the Middle East and Africa, abating. But more fundamental will be the rise of the Asian traveller. 
Leisure tourism revenue in North-East Asia will climb by 10% in 2015, to $900bn, surpassing the EU and North America. China is at the heart of this: under its five-year plan to 2015, it will build over 50 new airports; more than 100m Chinese globe-trotters will spend nearly $200bn, far more than Americans and Germans. Benefits will flow to the developed world. London’s hoteliers can expect another strong year, and American forecasters predict 65% hotel-occupancy rates, a 20-year record.

Airlines will also take flight. Traditional carriers will start to face increasing competition from budget airlines in long-haul markets. Norwegian Air, which plies the skies between Europe and America, aims to have eight Boeing 787 …

Link to article: www.economist.com/news/21632040-travel-and-tourism?fsrc=rss

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