WTTC: tourism still growing despite challenges

Global travel & tourism continues to register strong growth, despite challenges from terrorism, political turmoil, global economic developments and the Brexit decision, according to new research by the World Travel & Tourism Council (WTTC).

The update of WTTC’s Economic Impact Reports 2016 shows that, despite the many challenges travel & tourism has faced in the first six months of 2016, the sector is still expected to grow by 3.1 per cent, outpacing global economic growth forecast at 2.3 per cent.

The report includes a focus on the impact of the Brexit decision. This shows that travel & tourism in the UK is expected to hold up well in 2016 with growth of 3.6 per cent. Weaker domestic spending growth, and a projected drop in UK outbound holidays of three per cent, will be offset by higher spending in the UK by international visitors as a result of the favourable exchange rate.

The full report is available here.