Our research indicates that Travel & Tourism (T&T) plays a proportionately stronger role in both GDP and employment creation than any other comparable region.
In 2010, we forecast that the direct T&T industry will account for 3.7% of total GDP, whilst for our broader T&T economy measure (which includes both direct and indirect effects along with the impact of investment, government collective consumption and merchandise exports related to Travel & Tourism) this share rises to 12.4%. Both of these figures are higher than any other comparable region.
A similar picture emerges when we consider employment. In 2010, we forecast that the direct T&T industry will account for 3.5% of economy-wide jobs, a figure which rises to 10.9% for our broader T&T economy measure.