International Tourism at Crossroad Between the Recent Economic Recession and the Actual Growth Trend of the World Economy
AbstractAs 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 InfoArticle 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)
Financial crisis; recession; stagnation; incertitude; growth;
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