Professional Documents
Culture Documents
Travel
& Tourism
Economic Impact 2015
Asia Pacific
For more information, please contact:
Rochelle Turner
Head of Research
rochelle.turner@wttc.org
For 25 years, WTTC has been quantifying the economic impact of Travel & Tourism. This year, the 2015
Annual Economic Reports cover 184 countries and 25 regions of the world, including, for the first time,
the Pacific Alliance.
Travel & Tourism generated US$7.6 trillion (10% of global GDP) and 277 million jobs (1 in 11 jobs) for the
global economy in 2014. Recent years have seen Travel & Tourism growing at a faster rate than both the
wider economy and other significant sectors such as automotive, financial services and health care. Last year
was no exception. International tourist arrivals also surged, reaching nearly 1.14billion and visitor spending
more than matched that growth. Visitors from emerging economies now represent a 46% share of these
international arrivals (up from 38% in 2000), proving the growth and increased opportunities for travel from
those in these new markets.
The sector faces challenges every year and this year is likely to be no different. The weakness and potential
volatility of many currencies against the US dollar and a deep recession in Russia, a key outbound market,
will slow outbound spending in line with slower world trade overall in 2015. However, falling oil prices will
bring significant improvements for net oil importers in 2015, easing upward pressure on living costs, increasing
disposable household incomes and domestic consumer spending, and lowering air fares. As a result, Travel &
Tourism expansion is forecast to continue at a stronger rate than last year, with the total contribution to GDP
expected to increase by 3.7%. New destinations and investment opportunities will also continue to emerge
as tourism becomes increasingly affordable across the developing world. This growth will require countries
to adopt a concerted and coordinated approach to talent planning and development between their industry,
governments and educational institutions to ensure they fulfil their potential in the years ahead.
WTTC is proud to continue to provide this clear and empirical data in order to help both public and private
bodies make the right decisions for the future growth of a sustainable Travel & Tourism sector.
David Scowsill
President & CEO
WTTC
Foreword
Glossary......................................................................................11
Methodological Note...................................................................12
1
2015 ANNUAL RESEARCH: KEY FACTS 2015
forecast
VISITOR EXPORTS
Visitor exports generated USD397.8bn (5.2% of total exports) in 2014. This is forecast to grow
by 3.0% in 2015, and grow by 4.7% pa, from 2015-2025, to USD646.9bn in 2025 (5.2% of total).
INVESTMENT
Travel & Tourism investment in 2014 was USD303.5bn, or 3.7% of total investment. It should
rise by 6.3% in 2015, and rise by 5.7% pa over the next ten years to USD560.2bn in 2025 (4.7%
of total).
4,000
410
3,500
3,000 1,049
2,500
Employment
2,000 694
('000)
1,500
64,001
1,000
56,763
500
28,803
0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2025
2025
Travel & Tourism is an important economic activity in most countries around the world. As well as its direct economic
impact, the sector has significant indirect and induced impacts. The UN Statistics Division-approved Tourism Satellite
Accounting methodology (TSA:RMF 2008) quantifies only the direct contribution of Travel & Tourism. WTTC recognises that
Travel & Tourism's total contribution is much greater however, and aims to capture its indirect and induced
impacts through its annual research.
DIRECT CONTRIBUTION
The direct contribution of Travel & Tourism to GDP reflects the internal spending on Travel & Tourism (total spending
within a particular country on Travel & Tourism by residents and non-residents for business and leisure purposes) as
well as government 'individual' spending - spending by government on Travel & Tourism services directly linked to
visitors, such as cultural (eg museums) or recreational (eg national parks).
The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in
National Accounting, of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure
and recreation services that deal directly with tourists.The direct contribution of Travel & Tourism to GDP is calculated
from total internal spending by netting out the purchases made by the different tourism industries. This measure is
consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite Account: Recommended
Methodological Framework (TSA: RMF 2008).
TOTAL CONTRIBUTION
The total contribution of Travel & Tourism includes its wider impacts (ie the indirect and induced impacts) on the economy.
The indirect contribution includes the GDP and jobs supported by:
Travel & Tourism investment spending an important aspect of both current and future activity that includes
investment activity such as the purchase of new aircraft and construction of new hotels;
Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on
behalf of the community at large eg tourism marketing and promotion, aviation,
administration, security services, resort area security services, resort area sanitation services, etc;
Domestic purchases of goods and services by the sectors dealing directly with tourists - including, for example,
purchases of food and cleaning services by hotels, of fuel and catering services by airlines, and IT services by
travel agents.
The induced contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly
employed by the Travel & Tourism sector.
The direct contribution of Travel & Tourism to GDP is expected to grow by 4.9% pa to USD1,177.1bn (3.2% of GDP)
by 2025.
1,200 3.20
1,000 3.10
800 3.00
600 2.90
400 2.80
200 2.70
0 2.60
2025
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2025
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2025
2025
The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and
induced income impacts, see page 2) was USD2,153.9bn in 2014 (9.2% of GDP) and is expected to grow by
5.5% to USD2,273.1bn (9.3% of GDP) in 2015.
4,000 12.0
3,500
10.0
3,000
8.0
2,500
2,000 6.0
1,500
4.0
1,000
2.0
500
0 0.0
2014 2015 2025
2025
2025 2014 2015 2025
2025
1
All values are in constant 2014 prices & exchange rates
By 2025, Travel & Tourism will account for 79,075,000 jobs directly, an increase of 2.0% pa over the next ten
years.
90,000.0 4.1
80,000.0 4.0
70,000.0 3.9
60,000.0 3.8
50,000.0 3.7
40,000.0 3.6
30,000.0 3.5
20,000.0 3.4
10,000.0 3.3
0.0 3.2
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2025
2025
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2025
2025
The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply
chain and induced income impacts, see page 2) was 149,566,000 jobs in 2014 (8.5% of total employment). This
is forecast to rise by 2.8% in 2015 to 153,695,000 jobs (8.7% of total employment).
By 2025, Travel & Tourism is forecast to support 199,583,000 jobs (10.2% of total employment), an increase of
2.6% pa over the period.
ASIA PACIFIC: TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT
250,000.0 12.0
200,000.0 10.0
8.0
150,000.0
6.0
100,000.0
4.0
50,000.0
2.0
0.0 0.0
2014 2015 2025
2025
2025 2014 2015 2025
2025
By 2025, international tourist arrivals are forecast to total 470,347,000, generating expenditure of USD646.9bn,
an increase of 4.7% pa.
450
600
5.0
400
500 350
4.0
300
400
250
300 3.0
200
200 150
2.0
100
100
50
1.0
0 0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2025
2025
0.0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2025
2025
Foreign visitor exports (LHS)
Foreign tourist arrivals (RHS)
INVESTMENT
Travel & Tourism is expected to have attracted capital investment of USD303.5bn in 2014. This is expected to
rise by 6.3% in 2015, and rise by 5.7% pa over the next ten years to USD560.2bn in 2025.
Travel & Tourisms share of total national investment will rise from 3.8% in 2015 to 4.7% in 2025.
600 6.0
500 5.0
400 4.0
300 3.0
200 2.0
100 1.0
0 0.0
2025
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2025
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2025
2025
1
All values are in constant 2014 prices & exchange rates
77.3%
Leisure travel spending is expected to grow by
4.7% in 2015 to USD1,262.9bn, and rise by 5.2%
Business spending pa to USD2,087.6bn in 2025.
22.7%
Business travel spending is expected to grow by
6.6% in 2015 to USD377.4bn, and rise by 4.0% pa
to USD559.5bn in 2025.
Asia Pacific
Travel & Tourism's Contribution to GDP:
Domestic vs Foreign, 2014
Domestic travel spending generated 74.5% of
direct Travel & Tourism GDP in 2014 compared
with 25.5% for visitor exports (ie foreign visitor
Foreign visitor spending
spending or international tourism receipts).
25.5%
Domestic travel spending is expected to grow by
Domestic spending
5.8% in 2015 to USD1,230.5bn, and rise by 5.0%
74.5% pa to USD2,000.1bn in 2025.
Asia Pacific
Breakdown of Travel & Tourism's Total Contribution to GDP, 2014
The Travel & Tourism industry contributes to GDP
Direct
and employment in many ways as detailed on
page 2.
32.2%
Induced
The total contribution of Travel & Tourism to
19.1% GDP is three times greater than its direct
contribution.
a
Indirect
48.7%
Indirect is the sum of:
(a) Supply chain
34.1%
(b) Investment b
9.2% c
(c) Government collective
5.4%
1
All values are in constant 2014 prices & exchange rates
% of total refers to each indicator's share of the relevant whole economy indicator such as GDP and employment. Visitor exports is shown relative to total exports of goods and
Domestic spending is expressed relative to whole economy GDP. For leisure and business spending, their direct contribution to Travel & Tourism GDP is calculated as a share of
whole economy GDP (the sum of these shares equals the direct contribution). Investment is relative to whole economy investment.
Asia Pacific
(USDbn, real 2014 prices) 2009 2010 2011 2012 2013 2014 2015E 2025F
1. Visitor exports 266.8 302.7 327.6 352.5 380.9 397.8 409.9 646.9
Domestic expenditure
2. 911.8 932.8 980.3 1,043.5 1,105.1 1,162.7 1,230.5 2,000.1
(includes government individual spending)
including imported goods -648.9 -683.1 -728.3 -775.6 -824.5 -866.4 -910.8 -1,469.9
(supply chain)
5. Direct contribution of
Travel & Tourism to GDP 529.6 552.4 579.6 620.4 661.5 694.1 729.5 1,177.1
(= 3 + 4)
(indirect & induced) 583.9 606.0 633.7 678.3 720.2 758.9 799.6 1,306.7
7. Capital investment 262.7 237.9 253.1 270.4 289.8 303.5 322.5 560.2
8. Government collective spending 88.3 93.4 99.7 106.8 114.1 120.7 127.0 200.4
9. Imported goods from indirect spending -89.0 -101.9 -117.0 -122.0 -129.7 -133.7 -141.3 -225.7
10. Induced 330.2 328.4 341.8 363.1 387.8 410.5 435.7 690.9
12. Direct contribution of Travel & Tourism to 58,880 59,404 60,444 61,567 62,945 64,001 65,162 79,075
employment
Other indicators
202.5 228.5 245.8 283.2 314.1 340.0 361.1 627.2
14. Expenditure on outbound travel
Asia Pacific
(USDbn, nominal prices) 2009 2010 2011 2012 2013 2014 2015E 2025F
1. Visitor exports 216.0 267.5 315.0 346.4 378.8 397.8 410.2 865.4
Domestic expenditure
2. 794.9 880.0 1,017.9 1,089.9 1,118.3 1,162.7 1,199.9 2,738.8
(includes government individual spending)
including imported goods -552.6 -630.5 -737.7 -793.7 -829.6 -866.4 -894.7 -552.6
(supply chain)
5. Direct contribution of
Travel & Tourism to GDP 458.3 517.1 595.2 642.5 667.5 694.1 715.4 1,593.9
(= 3 + 4)
(indirect & induced) 497.9 561.5 645.7 697.5 725.9 758.9 784.2 1,787.1
7. Capital investment 215.1 217.3 256.5 276.5 292.1 303.5 318.8 778.8
8. Government collective spending 80.9 92.5 108.6 116.8 116.8 120.7 121.8 267.6
9. Imported goods from indirect spending -75.4 -95.8 -120.6 -125.0 -130.3 -133.7 -140.2 -298.3
10. Induced 287.7 310.9 355.8 380.9 392.9 410.5 424.9 946.7
12. Direct contribution of Travel & Tourism to 58,880 59,404 60,444 61,567 62,945 64,001 65,162 79,075
employment
Other indicators
173.3 214.1 251.3 290.4 316.4 340.0 355.8 877.1
14. Expenditure on outbound travel
*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended
Methodological Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Office
of the European Communities (EUROSTAT), the Organisation for Economic Co-operation and Development (OECD) and the World Tourism
Organization (UNWTO).
Historical data for concepts has been benchmarked to match reported TSA data where available.
Asia Pacific
2
Growth1 (%) 2009 2010 2011 2012 2013 2014 2015E 2025F
1. Visitor exports -3.0 13.5 8.2 7.6 8.1 4.4 3.0 4.7
Domestic expenditure
2. 0.9 2.3 5.1 6.4 5.9 5.2 5.8 5.0
(includes government individual spending)
including imported goods -0.7 5.3 6.6 6.5 6.3 5.1 5.1 4.9
(supply chain)
5. Direct contribution of
Travel & Tourism to GDP 0.8 4.3 4.9 7.1 6.6 4.9 5.1 4.9
(= 3 + 4)
(indirect & induced) 0.8 3.8 4.6 7.0 6.2 5.4 5.4 5.0
7. Capital investment -6.9 -9.4 6.4 6.8 7.2 4.7 6.3 5.7
8. Government collective spending 6.6 5.8 6.8 7.1 6.8 5.7 5.3 4.7
9. Imported goods from indirect spending -17.1 14.4 14.9 4.3 6.3 3.1 5.6 4.8
10. Induced 5.8 -0.6 4.1 6.2 6.8 5.8 6.1 4.7
12. Direct contribution of Travel & Tourism to -2.6 0.9 1.8 1.9 2.2 1.7 1.8 2.0
employment
Other indicators
-7.6 12.8 7.6 15.2 10.9 8.3 6.2 5.7
14. Expenditure on outbound travel
1 2
2009-2014 real annual growth adjusted for inflation (%); 2015-2025 annualised real growth adjusted for inflation (%)
Domestic Travel & Tourism spending spending within a Foreign visitor arrivals the number of arrivals of foreign visitors,
country by that countrys residents for both business and leisure including same-day and overnight visitors (tourists) to the country.
trips. Multi-use consumer durables are not included since they
are not purchased solely for tourism purposes. This is consistent
with total domestic tourism expenditure in table 2 of the TSA: RMF
2008. Outbound spending by residents abroad is not included
here, but is separately identified according to the TSA: RMF 2008
(see below).
NORTHEAST Asia
Egypt Luxembourg
Africa
North
Barbuda
Libya Hong Kong Malta
Aruba
Morocco South Korea
Bahamas Netherlands
European Union
Tunisia Macau
Barbados Poland
Angola Taiwan
Bermuda Portugal
Benin Mongolia
Cayman Islands Romania
Botswana Australia
Cuba Slovakia
Burkina Faso New Zealand
Former
Netherlands Slovenia
Burundi Fiji
Antilles Spain
Cameroon Kiribati
Oceania
Dominica
Cape Verde Other Oceania Sweden
Caribbean
Dominican
Central African Republic Papua UK
Republic New Guinea
Grenada Albania
Chad Solomon Islands
Guadeloupe
Armenia
Asia-PACIFIC
Comoros Tonga
Haiti
Democratic Vanuatu Azerbaijan
Republic of Congo Jamaica
Europe
Bangladesh Belarus
Ethiopia Martinique
India Bosnia
South Asia
Other Europe
Kazakhstan
Ivory Coast
Trinidad &
Brunei Kyrgyzstan
Americas
Kenya Tobago
Africa
Cambodia Macedonia
Lesotho UK Virgin Islands
Indonesia Moldova
US Virgin Islands
SUB-SAHARAN
Madagascar
SouthEast Asia
Laos Montenegro
Malawi Argentina
Malaysia Norway
Mali Belize
Myanmar
Mauritius Bolivia Russian
Philippines Federation
Mozambique Brazil
Singapore Serbia
Namibia Chile
Thailand Switzerland
Niger Colombia
Nigeria Vietnam Turkey
Costa Rica
Republic of Congo Austria Ukraine
El Salvador
Latin America
Seychelles Nicaragua
Denmark
Sierra Leone Jordan
Panama
Europe
Estonia
Middle East
Together with its research partner, Oxford Economics, WTTC produces annual research that
shows Travel & Tourism to be one of the worlds largest sectors, supporting over 276 million
jobs and generating 9.8% of global GDP in 2014. Comprehensive reports quantify, compare and
forecast the economic impact of Travel & Tourism on 184 economies around the world. In addition
to the individual country reports, WTTC produces a world report highlighting global trends and 24
further reports that focus on regions, sub-regions and economic and geographic groups.
For more information, please take advantage of a free trial on our website,
www.oxfordeconomics.com or contact Frances Nicholls, Director of Business Development,
Oxford Economics Ltd, Broadwall House, 21 Broadwall, London SE1 9PL.
Email: fnicholls@oxfordeconomics.com
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subsequently
pays for:
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