The outlook for the global tourism industry in 2014 is rosy with a 4-5% growth forecast for outbound travel as the world economy gradually improves.
The future of global tourism asserts quite lucrative figures according to the reports from the World Travel Monitor. Based on the survey results, IPK forecasted a robust growth of 4 – 5% for the worldwide tourism and travel market in 2014.
The strong growth in global tourism market is predicted to be an outcome of emerging economies around the world. Booming tourism in the emerging economies was once again the dominant element of regional travel trends in the last year. The roaring global tourism trend in the regions such as Asia, the Middle East and Latin America grew strongly, driven by the growth of first-time travellers from the new middle class in countries such as China and Brazil.
Global tourism including business travel and leisure travel has grown faster than the world economy in the last year with a 4% rise in international trips. Emerging markets such as China and Russia were again the top success stories with high growth rates for outbound global tourism while Asia and Europe performed well as popular tourist destinations.
After several years of gloomy news about the world economy, prospects for the next few years are gradually brightening up. This improving economic outlook will support further growth for the international travel and the global tourism sector, Dr. Gernot Nerb, an economic expert at the Munichbased Ifo Institute for Economic Research, told forum participants. ”The tourism industry around the world will undoubtedly benefit from the global economic recovery, forecast at 2.8%, and from the unanimously positive forecasts for every major economic zone,” he commented. ”We are on an upward path for the next two years.”