Tourism industry growth

 In 2004 the World Tourism Organization (UNWTO) forecasts that international tourism will continue growing at the average annual rate of 4 percent. With the advent of e-commerce, tourism products have become prominent traded items on the internet. Tourism products and services have been made available through intermediaries, although tourism providers (hotels, airlines, etc.), including small-scale operators, can sell their services directly.

As a result of the late-2000s recession, international arrivals experienced a strong slowdown beginning in June 2008. Growth from 2007 to 2008 was only 3.7 percent during the first eight months of 2008. This slowdown on international tourism demand was also reflected in the air transport industry, with negative growth in September 2008 and a 3.3% growth in passenger traffic through September. The hotel industry also reported a slowdown, with room occupancy declining. In 2009 worldwide tourism arrivals decreased by 3.8 percent. By the first quarter of 2009, real travel demand in the United States had fallen 6 percent over six quarters. While this was considerably milder than what occurred after the September 11 attacks, the decline was at twice the rate, as real GDP has fallen. However, evidence suggests that tourism as a global phenomenon shows no signs of substantially abating in the long term. The UNWTO has noted, that tourists increasingly view vacations and travel as a necessity rather than a luxury, and that this shift in attitudes may explain tourist numbers recovering globally in 2009.

It has been suggested there is a strong correlation between tourism expenditure per capita and the degree to which countries play in the global context. Not only as a result of the important economic contribution of the tourism industry, but also as an indicator of the degree of confidence with which global citizens leverage the resources of the globe for the benefit of their local economies. This is why any projections of growth in tourism may serve as an indication of the relative influence that each country will exercise in the future.