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International Tourism at Crossroad Between the Recent Economic Recession and the Actual Growth Trend of the World Economy

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  • Octavian-Liviu Olaru
  • Constanta-Aurelia Chitiba
  • Livia-Irina Olaru

    ()
    ("Dimitrie Cantemir" Christian University)

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    Abstract

    As a result of the extremely volatile world economy in 2008, tourism demand slowed steadily through the year. Overall, the 5% growth of the tourism world demand between January and June gave way to a 1% decline in the second half of the year. Growth returned to international tourism in the last quarter of 2009 contributing to better than expected full-year results, according to the outlook drawn up by the UNWTO specialists. International tourist arrivals are estimated to have declined worldwide by 4% in 2009 to 880 million. Against the overall economic indicators in recent months, UNWTO forecasts a growth in international tourist arrivals of between 3% and 4% in 2010. By region, Asia is expected to continue showing the strongest rebound, while Europe and the Americas are likely to recover at a more moderate pace.

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    Bibliographic Info

    Article provided by Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest in its journal Knowledge Horizons - Economics.

    Volume (Year): 2 (2010)
    Issue (Month): 3 (September)
    Pages: 16-22

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    Handle: RePEc:khe:journl:v:2:y:2010:i:3:p:16-22

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    Related research

    Keywords: Financial crisis; recession; stagnation; incertitude; growth;

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