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The Tourism Industry

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The global tourism industry is big business. It accounts for almost four percent of total world GDP and its wider economic impacts are as high as some 10 percent of world GDP. The tourism industry embraces a number of functionally separate industries, including various forms of transportation (airlines, railways, cars, ferries, buses), accommodation (hotels, holiday homes, camping sites, etc.), food and beverage (restaurants, bars, etc.), attractions (cities, beaches, cultural monuments, museums, amusement parks, events etc.) and finally shopping (malls, fashion shops, etc.). While industries such as airlines, hotels and restaurants are clearly related to tourism and may be analyzed as separate industries, attractions and, even more, shopping are harder to picture precisely. In general, revenues of the individual tourism industries, and therefore total revenue, are based on estimates (Table 4).

TABLE 4 Global Sectors of the Tourism Industry in $bn and % shares, 2005

$bn%
TravelAccommodationFoodAttractions60035025050035201530
Total Tourism Industry, $bn/ %1700100

Source: WTTC. World Tourism Satellite Account. Estimates based on national satellite accounts and revenues presented below.

Global Experience Industries

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