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The Authority on World Travel & Tourism

Travel & Tourism Economic impact 2015 United Kingdom

For more information, please contact:

Rochelle TurnerHead of Research

[email protected]

©2015 World travel & tourism council

WTTC Travel & Tourism Economic Impact 2015

The World Travel & Tourism Council (WTTC) is the global authority on the economic and social contribution of Travel & Tourism. WTTC promotes sustainable growth for the sector, working with governments and international institutions to create jobs, to drive exports and to generate prosperity.

Travel & Tourism’s impact on the economic and social development of a country can be enormous; opening it up for business, trade and capital investment, creating jobs and entrepreneurialism for the workforce and protecting heritage and cultural values. To fully understand its impact, however, governments, policy makers and businesses around the world require accurate and reliable data on the impact of the sector. Data is needed to help assess policies that govern future industry development and to provide knowledge to help guide successful and sustainable Travel & Tourism investment decisions.

For 25 years, WTTC has been quantifying the economic impact of Travel & Tourism. This year, the 2015 Annual Economic Reports cover 184 countries and 25 regions of the world, including, for the first time, the Pacific Alliance.

Travel & Tourism generated US$7.6 trillion (10% of global GDP) and 277 million jobs (1 in 11 jobs) for the global economy in 2014. Recent years have seen Travel & Tourism growing at a faster rate than both the wider economy and other significant sectors such as automotive, financial services and health care. Last year was no exception. International tourist arrivals also surged, reaching nearly 1.14billion and visitor spending more than matched that growth. Visitors from emerging economies now represent a 46% share of these international arrivals (up from 38% in 2000), proving the growth and increased opportunities for travel from those in these new markets.

The sector faces challenges every year and this year is likely to be no different. The weakness and potential volatility of many currencies against the US dollar and a deep recession in Russia, a key outbound market, will slow outbound spending in line with slower world trade overall in 2015. However, falling oil prices will bring significant improvements for net oil importers in 2015, easing upward pressure on living costs, increasing disposable household incomes and domestic consumer spending, and lowering air fares. As a result, Travel & Tourism expansion is forecast to continue at a stronger rate than last year, with the total contribution to GDP expected to increase by 3.7%. New destinations and investment opportunities will also continue to emerge as tourism becomes increasingly affordable across the developing world. This growth will require countries to adopt a concerted and coordinated approach to talent planning and development between their industry, governments and educational institutions to ensure they fulfil their potential in the years ahead.

WTTC is proud to continue to provide this clear and empirical data in order to help both public and private bodies make the right decisions for the future growth of a sustainable Travel & Tourism sector.

David ScowsillPresident & CEOWTTC

Foreword

Foreword

2015 Annual Research: Key Facts ...............................................1

Defining the Economic Contribution of Travel & Tourism .............2

Travel & Tourism’s Contribution to GDP .......................................3

Travel & Tourism’s Contribution to Employment ..........................4

Visitor Exports and Investment ....................................................5

Different Components of Travel & Tourism ...................................6

Country Rankings: Absolute Contribution, 2014 ..........................7

Country Rankings: Relative Contribution, 2014 ...........................8

Country Rankings: Real Growth, 2015 .........................................9

Country Rankings: Long Term Growth, 2015-2025 ....................10

Summary Tables: Estimates & Forecasts ...................................11

The Economic Contribution of Travel & Tourism: Real 2014 Prices ........................................................................12

The Economic Contribution of Travel & Tourism: Nominal Prices ...........................................................................13

The Economic Contribution of Travel & Tourism: Growth ..........14

Glossary .....................................................................................15

Methodological Note ..................................................................16

Regions, Sub-regions, Countries ...............................................17

UsE of matERial is aUtHoRisEd, pRovidEd soURcE is acknoWlEdgEd

Harlequin Building, 65 southwark street, london, sE1 0HR, Uk tel: +44 (0)20 7481 8007 Email: [email protected] www.wttc.org

The Economic Impact of Travel & Tourism 2015

Contents

1All values are in constant 2014 prices & exchange rates

= Total contribution of Travel & Tourism

United Kingdom

2015 ANNUAL RESEARCH: KEY FACTS 2015 forecast

EMPLOYMENT: DIRECT CONTRIBUTION

EMPLOYMENT: TOTAL CONTRIBUTION

VISITOR EXPORTS

INVESTMENT

WORLD RANKING (OUT OF 184 COUNTRIES):Relative importance of Travel & Tourism's total contribution to GDP

5ABSOLUTE

Size in 2014

74

Contribution to GDP in 2014

RELATIVE SIZE

71GROWTH2015 forecast

Total Contribution of Travel & Tourism to GDP

Breakdown of Travel & Tourism's Total Contribution to GDP and Employment 2014

2014 GBPbn GDP (2014 GBPbn)

Direct Indirect Induced

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WTTC Travel & Tourism Economic Impact 2015 1

The direct contribution of Travel & Tourism to GDP was GBP61.9bn (3.5% of total GDP) in 2014, and is forecast to rise by 3.7% in 2015, and to rise by 3.2% pa, from 2015-2025, to GBP88.2bn (3.7% of total GDP) in 2025.

The total contribution of Travel & Tourism to GDP was GBP187.7bn (10.5% of GDP) in 2014, and is forecast to rise by 4.0% in 2015, and to rise by 3.1% pa to GBP263.9bn (11.2% of GDP) in 2025.

In 2014 Travel & Tourism directly supported 1,892,500 jobs (5.7% of total employment). This is expected to rise by 2.1% in 2015 and rise by 1.7% pa to 2,280,000 jobs (6.4% of total employment) in 2025.

In 2014, the total contribution of Travel & Tourism to employment, including jobs indirectly

Visitor exports generated GBP27.4bn (5.6% of total exports) in 2014. This is forecast to grow by 4.2% in 2015, and grow by 4.5% pa, from 2015-2025, to GBP44.2bn in 2025 (5.7% of total).

Travel & Tourism investment in 2014 was GBP13.0bn, or 4.2% of total investment. It should rise by 6.1% in 2015, and rise by 3.6% pa over the next ten years to GBP19.6bn in 2025 (4.2% of total).

2025

GDP: DIRECT CONTRIBUTION

GDP: TOTAL CONTRIBUTION

supported by the industry, was 12.7% of total employment (4,228,000 jobs). This is expected to rise by 2.0% in 2015 to 4,313,500 jobs and rise by 1.4% pa to 4,936,000 jobs in 2025 (13.8% of total).

142LONG-TERM GROWTH

Forecast 2015-2025

1

38

88

62

1,8921,627

709

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●


Defining the economiccontribution of Travel & Tourism

Travel & Tourism is an important economic activity in most countries around the world. As well as its direct economic impact, the sector has significant indirect and induced impacts. The UN Statistics Division-approved Tourism SatelliteAccounting methodology (TSA:RMF 2008) quantifies only the direct contribution of Travel & Tourism. WTTC recognises that Travel & Tourism's total contribution is much greater however, and aims to capture its indirect and induced impacts through its annual research.

DIRECT CONTRIBUTION

The direct contribution of Travel & Tourism to GDP reflects the ‘internal’ spending on Travel & Tourism (total spending within a particular country on Travel & Tourism by residents and non-residents for business and leisure purposes) as well as government 'individual' spending - spending by government on Travel & Tourism services directly linked to visitors, such as cultural (eg museums) or recreational (eg national parks).

The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in National Accounting, of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure and recreation services that deal directly with tourists.The direct contribution of Travel & Tourism to GDP is calculated from total internal spending by ‘netting out’ the purchases made by the different tourism industries. This measure is consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite Account: Recommended Methodological Framework (TSA: RMF 2008).

TOTAL CONTRIBUTION

The total contribution of Travel & Tourism includes its ‘wider impacts’ (ie the indirect and induced impacts) on the economy.The ‘indirect’ contribution includes the GDP and jobs supported by:

Travel & Tourism investment spending – an important aspect of both current and future activity that includes investment activity such as the purchase of new aircraft and construction of new hotels;

Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on behalf of the ‘community at large’ – eg tourism marketing and promotion, aviation, administration, security services, resort area security services, resort area sanitation services, etc;

Domestic purchases of goods and services by the sectors dealing directly with tourists - including, for example, purchases of food and cleaning services by hotels, of fuel and catering services by airlines, and IT services by travel agents.

The ‘induced’ contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly employed by the Travel & Tourism sector.

UNITED KINGDOM: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO GDP

UNITED KINGDOM: TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO GDP

1 All values are in constant 2014 prices & exchange rates

3

Travel & Tourism'scontribution to GDP1

The direct contribution of Travel & Tourism to GDP in 2014 was GBP61.9bn (3.5% of GDP). This is forecast to rise by 3.7% to GBP64.2bn in 2015.This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation services (excluding commuter services). But it also includes, for example, the activities of the restaurant and leisure industries directly supported

The direct contribution of Travel & Tourism to GDP is expected to grow by 3.2% pa to GBP88.2bn (3.7% of GDP) by 2025.

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induced income impacts, see page 2) was GBP187.7bn in 2014 (10.5% of GDP) and is expected to grow by 4.0% to GBP195.1bn (10.6% of GDP) in 2015.

It is forecast to rise by 3.1% pa to GBP263.9bn by 2025 (11.2% of GDP).

Constant 2014 GBPbn


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The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and

UNITED KINGDOM: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT

UNITED KINGDOM: TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT

4

Travel & Tourism generated 1,892,500 jobs directly in 2014 (5.7% of total employment) and this is forecast to grow by 2.1% in 2015 to 1,932,500 (5.7% of total employment).This includes employment by hotels, travel agents, airlines and other passenger transportation services (excluding commuter services). It also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists.

By 2025, Travel & Tourism will account for 2,280,000 jobs directly, an increase of 1.7% pa over the next ten years.

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The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply

By 2025, Travel & Tourism is forecast to support 4,936,000 jobs (13.8% of total employment), an increase of 1.4% pa over the period.

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Travel & Tourism'scontribution to employment

chain and induced income impacts, see page 2) was 4,228,000 jobs in 2014 (12.7% of total employment). This is forecast to rise by 2.0% in 2015 to 4,313,500 jobs (12.8% of total employment).

2025

2025

VISITOR EXPORTS

UNITED KINGDOM: VISITOR EXPORTS AND INTERNATIONAL TOURIST ARRIVALS

INVESTMENT

UNITED KINGDOM: CAPITAL INVESTMENT IN TRAVEL & TOURISM

1 All values are in constant 2014 prices & exchange rates

5

Visitor Exports and Investment1

Money spent by foreign visitors to a country (or visitor exports) is a key component of the direct contribution of Travel & Tourism. In 2014, United Kingdom generated GBP27.4bn in visitor exports. In 2015, this is expected to grow by 4.2%, and the country is expected to attract 35,448,000 international tourist arrivals.

By 2025, international tourist arrivals are forecast to total 50,138,000, generating expenditure of GBP44.2bn, an increase of 4.5% pa.

Constant 2014 GBPbn Foreign visitor exports as % of total exports

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Travel & Tourism is expected to have attracted capital investment of GBP13.0bn in 2014. This is expected to rise by 6.1% in 2015, and rise by 3.6% pa over the next ten years to GBP19.6bn in 2025.

Travel & Tourism’s share of total national investment will fall from 4.3% in 2015 to 4.2% in 2025.

Constant 2014 GBPbn

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37.0%

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4.8% 1 All values are in constant 2014 prices & exchange rates

(b) Investment

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20.3%

46.7%Indirect is the sum of:

(a) Supply chain

6 WTTC Travel & Tourism Economic Impact 2015

Different components ofTravel & Tourism1

United KingdomTravel & Tourism's Contribution to GDP:

Business vs Leisure, 2014 Leisure travel spending (inbound and domestic) generated 58.5% of direct Travel & Tourism GDP in 2014 (GBP84.2bn) compared with 41.5% for business travel spending (GBP59.7bn).

Business travel spending is expected to grow by 3.8% in 2015 to GBP62.0bn, and rise by 2.7% pa to GBP80.9bn in 2025.

Leisure travel spending is expected to grow by 2.9% in 2015 to GBP86.7bn, and rise by 3.6% pa to GBP122.9bn in 2025.

United Kingdom

Domestic vs Foreign, 2014

Travel & Tourism's Contribution to GDP:

Domestic travel spending generated 81.0% of direct Travel & Tourism GDP in 2014 compared with 19.0% for visitor exports (ie foreign visitor spending or international tourism receipts).

Domestic travel spending is expected to grow by 3.1% in 2015 to GBP120.1bn, and rise by 2.9% pa to GBP159.6bn in 2025.

Visitor exports are expected to grow by 4.2% in 2015 to GBP28.6bn, and rise by 4.5% pa to GBP44.2bn in 2025.

a

bc

United KingdomBreakdown of Travel & Tourism's Total Contribution to GDP, 2014

The Travel & Tourism industry contributes to GDP and employment in many ways as detailed on page 2.

The total contribution of Travel & Tourism to GDP is three times greater than its direct contribution.

2014 2014(US$bn) (US$bn)

1 United States 457.9 1 United States 1402.5

3 Germany 145.2 3 Germany 343.5

4 Japan 112.4 4 Japan 343.1

5 France 102.6 5 United Kingdom 309.8

6 United Kingdom 102.2 6 France 254.8

7 Italy 87.9 7 Italy 216.7

9 Spain 78.3 8 Spain 214.4

12 Australia 38.6 11 Australia 145.7

21 Canada 20.9 16 Canada 80.2

World Average 19.4 World Average 58.3

Europe Average 16.6 Europe Average 45.4

28 Greece 15.8 29 Greece 39.1

2014 2014'000 jobs '000 jobs


7 Germany 2841.9 8 Germany 4982.0

10 United Kingdom 1892.4 9 Japan 4441.6

14 Japan 1152.6 11 United Kingdom 4228.0

15 France 1132.6 16 France 2714.1

16 Italy 1082.0 17 Spain 2652.6

22 Spain 870.0 18 Italy 2553.0

World Average 827.0 World Average 2076.6

32 Australia 504.6 29 Australia 1415.8

35 Canada 462.0 37 Canada 1074.8

42 Greece 340.3 Europe Average 749.2

Europe Average 297.3 47 Greece 699.9

2014 2014(US$bn) (US$bn)


3 France 41.2 2 Spain 69.5

5 Germany 32.4 4 France 60.6

6 Japan 31.6 6 Germany 51.2

9 United Kingdom 21.4 8 Italy 46.3

10 Australia 18.4 9 United Kingdom 45.2

11 Spain 17.9 21 Australia 18.8

15 Italy 12.2 22 Japan 18.6

16 Canada 10.6 25 Greece 17.0

Europe Average 4.6 26 Canada 16.6

World Average 4.5 Europe Average 12.1

38 Greece 3.7 World Average 7.5

Travel & Tourism's Direct Travel & Tourism's Total Contribution to GDP Contribution to GDP

Travel & Tourism's Direct Travel & Tourism's Total

The tables on pages 7-10 provide provide brief extracts from the full WTTC Country League Table Rankings, highlighting comparisons with competing destinations as well as with the world and regional average. The competing destinations selected are those that offer a similar tourism product and compete for tourists from the same set of origin markets. These tend to be, but are not exclusively, geographical neighbours.

Contribution to Employment Contribution to Employment

Travel & Tourism VisitorCapital Investment Exports

7

Country rankings: Absolute contribution, 2014

7WTTC Travel & Tourism Economic Impact 2015

Averages in above tables are simple cross-country averages.

2014 2014% share % share


49 Spain 5.6 49 Spain 15.2

73 Italy 4.1 74 United Kingdom 10.5

81 Germany 3.8 80 Australia 10.1

84 France 3.6 84 Italy 10.1

93 United Kingdom 3.5 World 9.8

Europe 3.4 Europe 9.2

World 3.1 100 France 8.9

118 Australia 2.7 102 Germany 8.9


127 Japan 2.4 117 Japan 7.5




37 Germany 6.7 48 Spain 15.3

47 United Kingdom 5.7 59 United Kingdom 12.7


61 Italy 4.8 66 Germany 11.7

71 Australia 4.4 69 Italy 11.4

78 France 4.1 81 France 9.9

85 United States 3.6 World 9.4

World 3.6 90 United States 9.3


120 Canada 2.6 123 Japan 7.0

152 Japan 1.8 137 Canada 6.0



72 Spain 6.9 71 Spain 15.3

75 France 6.7 91 United States 8.3

94 Australia 4.7 98 France 7.5

Europe 4.7 100 Italy 7.4

World 4.3 108 Australia 6.4

104 United States 4.3 World 5.7


108 Germany 4.2 Europe 5.6

136 Italy 3.2 151 Canada 2.9

139 Japan 3.1 152 Germany 2.9

156 Canada 2.5 160 Japan 2.3


Travel & Tourism's Direct Travel & Tourism's Total Contribution to Employment Contribution to Employment

Travel & Tourism Investment Visitor ExportsContribution to Total Capital Investment Contribution to Total Exports


Country rankings: Relative contribution,2014

8

2015 2015% growth % growth


74 Australia 3.9 70 Spain 4.0


World 3.7 World 3.7

89 Greece 3.6 86 Australia 3.5

96 Spain 3.3 97 Greece 3.2

100 Japan 3.3 101 United States 3.1

112 United States 3.0 102 France 3.0

113 France 3.0 121 Japan 2.6

114 Germany 3.0 Europe 2.4

Europe 2.7 127 Germany 2.4

145 Italy 1.8 147 Italy 1.7


11 Japan 6.0 25 Japan 4.4



61 Spain 3.2 46 Spain 3.5

89 Germany 2.2 World 2.6

Europe 2.1 89 United Kingdom 2.0

94 United Kingdom 2.1 93 France 1.9

96 France 2.0 103 United States 1.7

World 2.0 104 Germany 1.7

106 Italy 1.7 Europe 1.5

134 United States 0.8 112 Italy 1.4

169 Australia -1.8 165 Australia -0.9


58 United Kingdom 6.1 27 Japan 6.8

71 Canada 5.4 33 Greece 6.2

World 4.8 35 Canada 6.1

94 United States 4.6 74 United Kingdom 4.2


116 Greece 3.6 81 France 3.9

133 Germany 2.6 84 Spain 3.9

134 France 2.5 Europe 3.4

Europe 2.4 World 2.8

144 Japan 2.0 113 Italy 2.5

168 Australia 0.4 116 Germany 2.3

169 Italy 0.4 148 United States -0.1



Travel & Tourism VisitorInvestment Exports

Country rankings: Real growth,

7

2015


2015 - 2025 2015 - 2025% growth pa % growth pa

World 3.9 World 3.8

110 United States 3.8 110 Greece 3.7

122 Greece 3.6 129 United States 3.4


138 Australia 3.2 142 United Kingdom 3.1

140 United Kingdom 3.2 149 Australia 2.9


165 France 2.6 176 France 2.3

177 Spain 2.3 177 Spain 2.1

181 Italy 2.1 181 Germany 1.8

182 Japan 2.0 182 Italy 1.7

183 Germany 1.9 183 Japan 1.6



84 Italy 2.3 World 2.3


World 2.0 118 Italy 1.6

117 France 1.7 125 Australia 1.4


Europe 1.6 132 Canada 1.3

136 Spain 1.3 137 France 1.2

145 Australia 1.0 Europe 1.2

153 Japan 0.7 152 Spain 0.9

157 Canada 0.7 159 Germany 0.5

158 Germany 0.6 164 Japan 0.5


World 4.6 76 Japan 4.5

82 Greece 4.5 80 United Kingdom 4.5

118 United States 3.7 87 Greece 4.2

123 United Kingdom 3.6 World 4.2

125 Canada 3.6 99 Germany 4.0

129 Spain 3.5 Europe 3.8

Europe 3.2 110 United States 3.7

146 Germany 2.9 138 France 3.0

159 France 2.5 147 Canada 2.8

170 Australia 2.0 158 Spain 2.7

171 Italy 2.0 163 Australia 2.4

176 Japan 1.7 174 Italy 2.0



Travel & Tourism Investment Visitor ExportsContribution to Capital Investment Contribution to Exports


Country rankings: Long term growth, 2015 - 2025

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2015

United Kingdom US$mn % of total Growth2 US$mn % of total Growth3

Direct contribution to GDP 102,207.0 3.5 3.7 145,601.0 3.7 3.2

Total contribution to GDP 309,756.0 10.5 4.0 435,599.0 11.2 3.1

Direct contribution to employment4 1,892.4 5.7 2.1 2,280.3 6.4 1.7

Total contribution to employment4 4,228.0 12.7 2.0 4,936.5 13.8 1.4

Visitor exports 45,216.5 5.5 4.2 72,901.7 5.7 4.5

Domestic spending 192,237.0 6.5 3.1 263,468.0 6.8 2.9

Leisure spending 138,970.0 2.0 2.9 202,848.0 2.2 3.6

Business spending 98,483.3 1.4 3.8 133,522.0 1.5 2.7

Capital investment 21,419.3 4.2 6.1 32,399.1 4.2 3.612014 constant prices & exchange rates; 22015 real growth adjusted for inflation (%); 32015-2025 annualised real growth adjusted for inflation (%); 4'000 jobs

2015

Europe US$bn % of total Growth2 US$bn % of total Growth3

Direct contribution to GDP 779.7 3.4 2.7 1,057.7 3.6 2.8


Direct contribution to employment4 13,975 3.6 2.1 16,668 4.1 1.6

Total contribution to employment4 35,214 9.0 1.5 40,094 9.9 1.2

Visitor exports 568.0 5.6 3.4 851.5 5.8 3.8



Business spending 385.8 0.7 2.6 511.3 0.8 2.6

Capital investment 215.1 4.7 2.4 301.7 5.0 3.212014 constant prices & exchange rates; 22015 real growth adjusted for inflation (%); 32015-2025 annualised real growth adjusted for inflation (%); 4'000 jobs

2015

Worldwide US$bn % of total Growth2 US$bn % of total Growth3

Direct contribution to GDP 2,364.8 3.1 3.7 3,593.2 3.3 3.9


Direct contribution to employment4 105,408 3.6 2.0 130,694 3.9 2.0

Total contribution to employment4 276,845 9.4 2.6 356,911 10.7 2.3

Visitor exports 1,383.8 5.7 2.8 2,140.1 5.6 4.2



Business spending 1,175.7 0.7 4.0 1,679.0 0.7 3.2

Capital investment 814.4 4.3 4.8 1,336.4 4.9 4.612014 constant prices & exchange rates; 22015 real growth adjusted for inflation (%); 32015-2025 annualised real growth adjusted for inflation (%); 4'000 jobs

2014 2014 2025

2014 2014 2025

2014 2014 2025

% of total refers to each indicator's share of the relevant whole economy indicator such as GDP and employment. Visitor exports is shown relative to total exports of goods and


Summary tables:Estimates & Forecasts

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Domestic spending is expressed relative to whole economy GDP. For leisure and business spending, their direct contribution to Travel & Tourism GDP is calculated as a share of whole economy GDP (the sum of these shares equals the direct contribution). Investment is relative to whole economy investment.

2009 2010 2011 2012 2013 2014 2015E 2025F

Domestic expenditure

(includes government individual spending)

3. Internal tourism consumption

(= 1 + 2 )

4. Purchases by tourism providers,

including imported goods

(supply chain)

5. Direct contribution of Travel & Tourism to GDP(= 3 + 4)

Other final impacts

(indirect & induced)

6. Domestic supply chain

11. Total contribution of Travel & Tourism to GDP(= 5 + 6 + 7 + 8 + 9 + 10)

Employment impacts ('000)

12.

Other indicators

14. Expenditure on outbound travel

United Kingdom

(GBPbn, real 2014 prices)

1. Visitor exports 23.7 23.8 26.1 25.5 27.4 27.4 28.6 44.2

2. 103.1 103.2 110.8 110.2 113.3 116.5 120.1 159.6

126.8 126.9 136.9 135.7 140.7 143.9 148.6 203.8

-72.3 -72.8 -78.4 -77.7 -80.3 -81.9 -84.4 -115.6

54.5 54.1 58.5 58.0 60.4 61.9 64.2 88.2

64.4 64.0 68.8 68.2 71.0 72.8 75.5 103.8

7. Capital investment 10.7 10.1 11.4 12.6 13.0 13.0 13.8 19.6

8. Government collective spending 8.6 9.6 9.5 9.5 9.4 9.5 9.4 10.2

9. Imported goods from indirect spending -6.7 -7.1 -7.7 -7.9 -8.1 -7.6 -7.8 -10.1

10. Induced 33.7 32.9 35.0 35.0 36.4 38.1 40.0 52.3

165.2 163.6 175.5 175.6 182.2 187.7 195.1 263.9

1,593.7 1,569.1 1,701.7 1,728.6 1,834.8 1,892.4 1,932.6 2,280.3Direct contribution of Travel & Tourism to employment

13.Total contribution of Travel & Tourism to employment

3,829.2 3,676.6 3,880.9 3,923.7

41.9 41.8 42.3 43.3 45.2 45.4 47.2 56.7

4,098.5 4,228.0 4,313.7 4,936.5


The economic contribution ofTravel & Tourism: Real 2014 prices

2009 2010 2011 2012 2013 2014 2015E 2025F




(= 1 + 2 )



(supply chain)


Other final impacts





12.

Other indicators


Historical data for concepts has been benchmarked to match reported TSA data where available.

United Kingdom

(GBPbn, nominal prices)

1. Visitor exports 21.8 22.3 24.7 24.6 26.9 27.4 29.0 54.7

2. 94.7 96.7 105.1 106.3 111.1 116.5 122.0 197.8

116.5 119.0 129.8 130.9 138.0 143.9 151.1 252.5

-66.5 -68.3 -74.4 -74.9 -78.8 -81.9 -85.8 -143.2

72.8 76.8

50.0 50.7 55.5 56.0 59.2 61.9

13.0 14.0

65.3 109.3

59.2 60.0 65.2 65.8 69.7

9.5 9.5

128.6

7. Capital investment 9.8 9.5 10.8 12.2 12.7

-7.6 -7.9

24.3

8. Government collective spending 7.9 9.0 9.0 9.2 9.3

38.1 40.7

12.6

9. Imported goods from indirect spending -6.2 -6.7 -7.3 -7.6 -7.9

198.3 327.0

-12.6

10. Induced 30.9 30.8 33.2 33.8 35.7

1,728.6 1,834.8 1,892.4

64.8

151.8 153.3 166.4 169.3 178.7 187.7


3,829.2 3,676.6 3,880.9 3,923.7

44.3 45.4 48.0

1,932.6 2,280.3Direct contribution of Travel & Tourism to employment

4,098.5

1,593.7 1,569.1 1,701.7

70.2

*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended Methodological Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Officeof the European Communities (EUROSTAT), the Organisation for Economic Co-operation and Development (OECD) and the World Tourism Organization (UNWTO).

4,228.0 4,313.7 4,936.5

38.5 39.2 40.1 41.7


The economic contribution ofTravel & Tourism: Nominal prices

2009 2010 2011 2012 2013 2014 2015E 2025F 2




(= 1 + 2 )



(supply chain)


Other final impacts





12.

Other indicators


United Kingdom

Growth1 (%)

1. Visitor exports -2.3 0.3 9.8 -2.1 7.3 -0.1 4.2 4.5

2. -7.2 0.1 7.4 -0.6 2.8 2.8 3.1 2.9

-6.3 0.2 7.8 -0.8 3.6 2.2 3.3 3.2

-6.5 0.7 7.6 -0.9 3.3 2.0 3.0 3.2

2.6 3.7

-6.2 -0.7 8.1 -0.8 4.1 2.6

-0.1 6.1

3.7 3.2

-6.2 -0.7 7.5 -0.8 4.1

0.5 -1.3

3.2

7. Capital investment 3.3 -5.4 12.5 10.8 2.7

-1.6 2.7

3.6

8. Government collective spending 1.5 10.9 -0.9 0.5 -0.9

4.6 5.1

0.8

9. Imported goods from indirect spending 6.6 3.2 7.5 0.6 3.0

4.0 3.1

2.8

10. Induced -5.0 -2.3 6.4 0.1 3.9

1.6 6.1 3.1

2.7

-6.0 -1.0 7.3 0.1 3.7 3.0


-2.8 -4.0 5.6 1.1

4.4 0.5 4.1

2.1 1.7Direct contribution of Travel & Tourism to employment

4.5

-3.9 -1.5 8.5

1.8

12009-2014 real annual growth adjusted for inflation (%); 22015-2025 annualised real growth adjusted for inflation (%)

3.2 2.0 1.4

-15.6 -0.1 1.2 2.3


The economic contribution ofTravel & Tourism: Growth


Key DeFINITIONSTravel & Tourism – relates to the activity of travellers on trips outside their usual environment with a duration of less than one year. Economic activity related to all aspects of such trips is measured within the research.

Direct contribution to GDP – GDP generated by industries that deal directly with tourists, including hotels, travel agents, airlines and other passenger transport services, as well as the activities of restaurant and leisure industries that deal directly with tourists. It is equivalent to total internal Travel & Tourism spending (see below) within a country less the purchases made by those industries (including imports). In terms of the UN’s Tourism Satellite Account methodology it is consistent with total GDP calculated in table 6 of the TSA: RMF 2008.

Direct contribution to employment – the number of direct jobs within Travel & Tourism. This is consistent with total employment calculated in table 7 of the TSA: RMF 2008.

Total contribution to GDP – GDP generated directly by the Travel & Tourism sector plus its indirect and induced impacts (see below).

Total contribution to employment – the number of jobs generated directly in the Travel & Tourism sector plus the indirect and induced contributions (see below).

DIReCT SPeNDING IMPACTSVisitor exports – spending within the country by international tourists for both business and leisure trips, including spending on transport, but excluding international spending on education. This is consistent with total inbound tourism expenditure in table 1 of the TSA: RMF 2008.

Domestic Travel & Tourism spending – spending within a country by that country’s residents for both business and leisure trips. Multi-use consumer durables are not included since they are not purchased solely for tourism purposes. This is consistent with total domestic tourism expenditure in table 2 of the TSA: RMF 2008. Outbound spending by residents abroad is not included here, but is separately identified according to the TSA: RMF 2008 (see below).

Government individual spending – spending by government on Travel & Tourism services directly linked to visitors, such as cultural services (eg museums) or recreational services (eg national parks).

Internal tourism consumption – total revenue generated within a country by industries that deal directly with tourists including visitor exports, domestic spending and government individual spending. This does not include spending abroad by residents. This is consistent with total internal tourism expenditure in table 4 of the TSA: RMF 2008.

Business Travel & Tourism spending – spending on business travel within a country by residents and international visitors.

Leisure Travel & Tourism spending – spending on leisure travel within a country by residents and international visitors.

INDIReCT AND INDuCeD IMPACTS Indirect contribution – the contribution to GDP and jobs of the following three factors:

• Capitalinvestment– includes capital investment spending by all industries directly involved in Travel & Tourism. This also constitutes investment spending by other industries on specific tourism assets such as new visitor accommodation and passenger transport equipment, as well as restaurants and leisure facilities for specific tourism use. This is consistent with total tourism gross fixed capital formation in table 8 of the TSA: RMF 2008.

• Governmentcollectivespending –government spending in support of general tourism activity. This can include national as well as regional and local government spending. For example, it includes tourism promotion, visitor information services, administrative services and other public services. This is consistent with total collective tourism consumption in table 9 of TSA: RMF 2008.

• Supply-chaineffects– purchases of domestic goods and services directly by different industries within Travel & Tourism as inputs to their final tourism output.

Induced contribution – the broader contribution to GDP and employment of spending by those who are directly or indirectly employed by Travel & Tourism.

OTheR INDICATORSOutbound expenditure – spending outside the country by residents on all trips abroad. This is fully aligned with total outbound tourism expenditure in table 3 of the TSA: RMF 2008.

Foreign visitor arrivals – the number of arrivals of foreign visitors, including same-day and overnight visitors (tourists) to the country.

Glossary


Methodological note

APEC(ASiA-PACifiCEConomiCCooPErAtion)Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russian Federation, Singapore, Taiwan, Thailand, USA, Vietnam.

The COMMONweALThAnguilla, Antigua and Barbuda, Australia, Bahamas, Bangladesh, Barbados, Belize, Bermuda, Botswana, Brunei, Cameroon, Canada, Cayman Islands, Cyprus, Dominica, Ghana, Grenada, Guyana, India, Jamaica, Kenya, Kiribati, Lesotho, Malawi, Malaysia, Maldives, Malta, Mauritius, Mozambique, Namibia, Nigeria, New Zealand, Pakistan, Papua New Guinea, Rwanda, South Africa, Seychelles, Sierra Leone, Singapore, Solomon Islands, Sri Lanka, St Kitts and Nevis, St Lucia, St Vincent and the Grenadines, Swaziland, Tanzania, Tonga, Trinidad and Tobago, Uganda, UK, British Virgin Islands, Vanuatu, Zambia.

FORMeR NeTheRLANDS ANTILLeSBonaire, Curacao, Sint Maarten, Saba and Sint Eustatius.

G20Argentina, Australia, Brazil, Canada, China, European Union, France*, Germany*, India, Indonesia, Italy*, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, Turkey, UK*, USA.

mEtA(mEditErrAnEAntrAvElASSoCiAtion)Albania, Algeria, Bosnia Herzegovina, Croatia, Cyprus, Egypt, France, Greece, Israel, Italy, Jordan, Lebanon, Libya, Macedonia, Malta, Montenegro, Morocco, Portugal, Serbia, Slovenia, Spain, Syria, Tunisia, Turkey.

oAS(orGAnizAtionofAmEriCAnStAtES)Argentina, Antigua and Barbuda, Bahamas, Barbados, Belize, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Dominica, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, St Kitts and Nevis, Nicaragua, Panama, Paraguay, Peru, St Lucia, St Vincent and the Grenadines, Suriname, Trinidad and Tobago, USA, Uruguay.

OeCD (ORGANISATION FOR eCONOMIC Co-oPErAtionAnddEvEloPmEnt)Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, South Korea, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, UK, USA.

OTheR OCeANIAAmerican Samoa, Cook Islands, French Polynesia, Guam, Marshall Islands, Micronesia (Federated States of), New Caledonia, Niue, Northern Mariana Islands, Palau, Samoa, Tuvalu.

PACIFIC ALLIANCeChile, Colombia, Mexico, Peru.

SADC (SOuTheRN AFRICAN DeVeLOPMeNT Community)Angola, Botswana, Democratic Republic of Congo (DRC), Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, Zambia, Zimbabwe.

*included in European Union

WTTC has an on-going commitment to align its economic impact research with the UN Statistics Division-approved 2008 Tourism Satellite Account: Recommended Methodological Framework (TSA:RMF 2008). This involves benchmarking of country reports to official, published TSAs, including for countries which are reporting data for the first time, as well as existing countries reporting an additional year’s data. New country TSAs incorporated this year include France, Germany, Japan, Malaysia, Mexico, Oman, Qatar and Saudi Arabia. In addition to producing data on 184 countries, WTTC also produces reports on 24 other regions, sub-regions and economic and geographic groups. This year, there are 8 reports for special economic and geographic groups with Pacific Alliance being included for the first time. Please also note that from this year, the report for Sudan no longer includes data on South Sudan.

eCONOMIC AND GeOGRAPhIC GROuPS


economic impact reports:regions,sub-regionsandcountries

wORLD

Region Sub- Region CountRy

AfR

iCA

no

Rth

A

fRiC

A

Algeria

Egypt

Libya

Morocco

Tunisia

Sub

-SA

hA

RA

n

Angola

Benin

Botswana

Burkina Faso

Burundi

Cameroon

Cape VerdeCentral African RepublicChad

Comoros

Democratic Republic of Congo

Ethiopia

Gabon

Gambia

Ghana

Guinea

Ivory Coast

Kenya

Lesotho

Madagascar

Malawi

Mali

Mauritius

Mozambique

Namibia

Niger

Nigeria

Republic of Congo

Reunion

RwandaSao Tome & PrincipeSenegal

Seychelles

Sierra Leone

South Africa

Sudan

Swaziland

Tanzania

Togo

Uganda

Zambia

Zimbabwe

Region Sub-Region CountRy

euR

ope

euR

ope

An

un

ion

Lithuania

Luxembourg

Malta

Netherlands

Poland

Portugal

Romania

Slovakia

Slovenia

Spain

Sweden

UK

oth

eR e

uR

ope

Albania

Armenia

Azerbaijan

Belarus

Bosnia Herzegovina

Georgia

Iceland

Kazakhstan

Kyrgyzstan

Macedonia

Moldova

Montenegro

Norway

Russian Federation

Serbia

Switzerland

Turkey

Ukraine

Uzbekistan

Mid

dle

eA

St

Bahrain

Iran

Iraq

Israel

Jordan

Kuwait

Lebanon

Oman

Qatar

Saudi Arabia

Syria

UAE

Yemen

Region Sub-Region CountRy

ASi

A-p

AC

ifiC

no

Rth

eASt

ASi

A

Japan

China

Hong Kong

South Korea

Macau

Taiwan

Mongolia

oC

eAn

iA

Australia

New Zealand

Fiji

Kiribati

Other OceaniaPapua New GuineaSolomon Islands

Tonga

VanuatuSo

uth

ASi

A

Bangladesh

India

Maldives

Nepal

Pakistan

Sri Lanka

Sou

theA

St A

SiA

Brunei

Cambodia

Indonesia

Laos

Malaysia

Myanmar

Philippines

Singapore

Thailand

Vietnam

euR

ope

euR

ope

An

un

ion

Austria

Belgium

Bulgaria

Croatia

Cyprus

Czech Republic

Denmark

Estonia

Finland

France

Germany

Greece

Hungary

Ireland

Italy

Latvia

Region Sub- Region CountRy

AM

eRiC

AS

CA

Rib

beA

n

AnguillaAntigua & BarbudaAruba

Bahamas

Barbados

Bermuda

Cayman Islands

CubaFormer Netherlands AntillesDominicaDominican RepublicGrenada

Guadeloupe

Haiti

Jamaica

Martinique

Puerto Rico

St Kitts & Nevis

St LuciaSt Vincent & the GrenadinesTrinidad & TobagoUK Virgin Islands

US Virgin Islands

lAti

n A

MeR

iCA

Argentina

Belize

Bolivia

Brazil

Chile

Colombia

Costa Rica

El Salvador

Ecuador

Guatemala

Guyana

Honduras

Nicaragua

Panama

Paraguay

Peru

Suriname

Uruguay

Venezuela

no

Rth

AM

eRiC

A Canada

Mexico

USA


The wORLD TRAVeL & TOuRISM COuNCIL IS The GLOBAL AuThORITy ON The eCONOMIC AND SOCIAL CONTRIBuTION OF TRAVeL & TOuRISM. WTTC promotes sustainable growth for the sector, working with governments and international institutions to create jobs, to drive exports and to generate prosperity. Council Members are the Chairs, Presidents and Chief Executives of the world’s leading, private sector Travel & Tourism businesses.

Together with its research partner, Oxford Economics, WTTC produces annual research that shows Travel & Tourism to be one of the world’s largest sectors, supporting over 276 million jobs and generating 9.8% of global GDP in 2014. Comprehensive reports quantify, compare and forecast the economic impact of Travel & Tourism on 184 economies around the world. In addition to the individual country reports, WTTC produces a world report highlighting global trends and 24 further reports that focus on regions, sub-regions and economic and geographic groups.

To download reports or data, please visit www.wttc.org

ASSISTING wTTC TO PROVIDe TOOLS FOR ANALySIS, BeNChMARKING, FOReCASTING AND PLANNING.Over the last 33 years, Oxford Economics has built a diverse and loyal client base of over 800 international organisations, including leading multinational companies and financial institutions; key government bodies and trade associations; and top universities, consultancies, and think tanks. Headquartered in Oxford, England, with regional centres in London, New York and Singapore, Oxford Economics has offices across the globe in Belfast, Chicago, Dubai, Miami, Milan, Paris, Philadelphia, San Francisco, and Washington DC. The company employs over 140 full-time people, including more than 90 professional economists, industry experts and business editors – one of the largest teams of macroeconomists and thought leadership specialists – underpinned by our heritage with Oxford University and the academic community including a contributor network of over 500 economists, analysts and journalists around the world.

For more information, please take advantage of a free trial on our website, www.oxfordeconomics.com or contact Frances Nicholls, Director of Business Development, Oxford Economics Ltd, Broadwall House, 21 Broadwall, London SE1 9PL. Email: [email protected]

CHAIRMAN

TUI DEUTSCHLAND GMBH & TUIFLY GMBHDr Michael FrenzelChairman of the Supervisory Boards

PRESIDENT & CEO

WORLD TRAVEL & TOURISM COUNCILDavid Scowsill

VICE CHAIRMEN

BEIJING TOURISM GROUPDUAN QiangChairman

ETIHAD AIRWAYSJames HoganCEO

HILTON WORLDWIDEChristopher J NassettaPresident & CEO

JUMEIRAH GROUPGerald LawlessPresident & Group CEO

MANDARIN ORIENTALEdouard EttedguiGroup Chief Executive

SILVERSEA CRUISESManfredi Lefebvre d’Ovidio di Balsorano de ClunieresChairman

THE TRAVEL CORPORATIONBrett TollmanPresident & Chief Executive

EXECUTIVE COMMITTEE

ABERCROMBIE & KENTGeoffrey J W KentFounder, Chairman & CEO

ACCORSébastien BazinChairman & CEO

AMERICAN EXPRESS COMPANYWilliam GlennPresident & CEO of American Express Global Business Travel

AMERICAN INTERNATIONAL GROUP, INCJeffrey C RutledgeChief Executive Officer, AIG Travel

BHARAT HOTELSJyotsna SuriChairperson & Managing Director

CARLSONDouglas Anderson President & CEO Carlson Wagonlit Travel

DUBAI AIRPORTS INTERNATIONALPaul GriffithsCEO

EMIRATESGary ChapmanPresident Group Services & Dnata, Emirates Group

HNA GROUPCHEN Feng Chairman of the Board

INTERCONTINENTAL HOTELS GROUP Richard SolomonsCEO

JTB CORPHiromi TagawaChairman of the Board

MARRIOTT INTERNATIONAL JW Marriott, JrChairman Arne M SorensonPresident & CEO

OUTRIGGER ENTERPRISES GROUPRichard R KelleyChairman Emeritus

REVOLUTION PLACES, LLCPhilippe BourguignonVice Chairman

ROYAL CARIBBEAN CRUISESRichard D FainChairman & CEO

SABRE HOLDINGSTom Klein President & CEO

SHUN TAK HOLDINGS LIMITEDPansy HoManaging Director

TRAVELPORTGordon WilsonPresident & CEO

TSOGO SUN GROUPMarcel von AulockCEO

VISITBRITAINChristopher Rodrigues, CBEChairman

WYNDHAM WORLDWIDEStephen P HolmesChairman & CEO

GLOBAL MEMBERS

ABU DHABI TOURISM & CULTURE AUTHORITYMubarak Hamad Al MuhairiDirector General

AGODARob RosensteinCEO

ALL NIPPON AIRWAYS (ANA)Osamu ShinobePresident & CEO

ALTOURAlexandre ChemlaPresident

AMADEUS IT GROUP SALuis MarotoPresident & CEO

AVIS BUDGET GROUPRonald L NelsonChairman & CEO

BEIJING CAPITAL INTERNATIONAL AIRPORT COLIU Xuesong General ManagerSHI BoliGeneral Manager

BEIJING TOURISM GROUPLIU YiPresident

BRITISH AIRWAYSKeith WilliamsExecutive Chairman

CANNERY ROW COMPANYTed J BalestreriChairman & CEO

CHANGI AIRPORT GROUPLee Seow HiangCEO

CHICAGO DEPARTMENT OF AVIATIONMichael BolandActing Commissioner

CHINA EASTERN AIRLINESLIU ShaoyongChairman

CHINA INTERNATIONAL TRAVEL SERVICE, HEAD OFFICE (CITS)YU NingningPresident

CHINA SOUTHERN AIRLINESTAN WangengPresident & CEO

CHIMELONG SU ZhigangChairman & CEOCHEN WanchengPresident

COSTA CRUISESMichael ThammCEO

CORPORATE TRAVEL SERVICES José Luis CastroFounder & CEO

CROWN LIMITEDRowen Craigie Managing Director & CEO

CTRIP.COM INTERNATIONALFAN MinVice Chairman of the Board and President

DALLAS FORT WORTH AIRPORTSean DonohueCEO

DFS GROUPPhilippe SchausChairman & CEO

DEPARTMENT OF TOURISM & COMMERCE MARKETING, GOVERNMENT OF DUBAIH.E. Helal Saeed Khalfan Al MarriDirector General

DIAMOND RESORTS INTERNATIONALStephen J CloobeckFounder & Chairman

DUBAILANDMohammed Al HabbaiCEO

EAST JAPAN RAILWAY COMPANYSatoshi SeinoChairman & Director

ENTERPRISE HOLDINGSPamela NicholsonCEO

EXPEDIA INCDara KhosrowshahiPresident & CEO

FAIRMONT HOTELS & RESORTSJennifer FoxPresident

FINTRAXJohn MooreChairman

GLOBAL BLUE GROUPDavid Baxby President & CEO

GLOBAL LEISURE PARTNERS LLPMark HarmsChairman & CEO

GREATER TORONTO AIRPORTS AUTHORITYHoward Eng President & CEO

HAWAIIAN AIRMark DunkerleyPresident & CEO

HERTZ CORPORATIONMichel TaridePresident, Hertz International

HOGG ROBINSON GROUPDavid RadcliffeChief Executive

HONG KONG & SHANGHAI HOTELSClement KwokManaging Director & CEO

HUANGSHAN TOURISM GROUPHUANG LinmuPresident and Chairman of the Board

HYATT HOTELS CORPORATIONMark S HoplamazianPresident and CEO

IBMMarty SalfenGeneral Manager, Global Travel & Transportation Industry

INDIAN HOTELS COMPANY LTDRakesh K Sarna Managing Director & CEO

INTERNATIONAL AIRLINES GROUPWillie WalshChief Executive

JAPAN AIRLINES CO. LTDMasaru OnishiChairman

KERZNER INTERNATIONALAlan LeibmanCEO

KUONI TRAVEL HOLDING LTDPeter MeierCEO

LAS VEGAS SANDS CORP.Robert GoldsteinPresident and Chief Operating Officer

LEBUA HOTELS & RESORTS Narawadee BualertPresidentDeepak OhriCEO

LOTTEDong-Bin ShinChairman

MESSE BERLIN GMBHChristian GökePresident & CEO

MISSION HILLS GROUPDr Ken ChuChairman & CEO

NH HOTEL GROUPFederico Gonzalez TejeraCEO

NOEL GROUP, A BERKSHIRE HATHAWAY COMPANYJohn M. Noel CEO

NORWEGIAN CRUISE LINESFrank Del RioPresident & CEO

ORBITZ WORLDWIDEBarney HarfordCEO

OTI HOLDINGAyhan BektasChairman

OZALTIN HOLDINGÖznur Özdemir ÖzaltinChief Executive Özaltin Holding (Tourism Group)

PEAK ADVENTURE TRAVEL Darrell WadeCEO

QUNARZHUANG ChenchaoCo-Founder & CEO

RADISSON EDWARDIAN HOTELSJasminder SinghChairman & CEO

RELAIS & CHÂTEAUXPhilippe Gombert President International, Chairman of the Board

R TAUCK & PARTNERRobin Tauck President

SHANGHAI JIN JIANG INTERNATIONAL HOTELSYANG WeiminCEO

SHANGHAI SPRING INTERNATIONAL TRAVEL SERVICESXIAO QianhuiGeneral Manager

STARWOOD HOTELS & RESORTS WORLDWIDEAdam AronCEO

TAP PORTUGALFernando PintoCEO

TRAVEL LEADERS GROUPMichael BattFounder & Chairman

TURKISH AIRLINESTemel Kotil CEO

UNITED AIRLINESJeff Smisek President & CEOJim ComptonVice Chairman & Chief Revenue Officer

VALUE RETAILDesiree BollierCEO

VIRTUOSO Matthew D Upchurch CTCCEO

ZAGAT SURVEY LLCTim ZagatCo-Founder, Co-Chair & CEO

INDUSTRY PARTNERS

BOSTON CONSULTING GROUPAchim FechtelSenior Partner & Managing Director

THE COCA-COLA COMPANYStefanie D MillerGroup Vice President, Strategic Partnership Marketing

DELOITTEAdam WeissenbergVice Chairman, Global Travel, Hospitality & Leisure Leader

ECOLABMichael HickeyExecutive Vice President and President, Global Institutional

GOLDMAN SACHSBen LeahyManaging Director, Investment Banking Division

GOOGLERob TorresManaging Director for Travel

JCBKoremitsu SannomiyaPresident & Chief Operating Officer

JONES LANG LASALLE HOTELSArthur de HaastChairman Hotels & Hospitality Group

SPENCER STUARTJerry NoonanGlobal Consumer Leader

TOSHIBA CORPORATIONAtsutoshi NishidaChairman of the Board

VISA WORLDWIDERoss JacksonVice President, Cross-Border, Brand, Product & Client Marketing Asia Pacific Region

REGIONAL MEMBERS

ABACUS INTERNATIONALRobert BaileyPresident & CEO

ACTION GROUP HOLDINGH E Sheikh Mubarak Al Abdullah Al Mubarak Al SabahChairman

ALATURRicardo Souto FerreiraVice President

ALPITOURGabriele BurgioCEO

AMBASSADOR HOTEL GROUPJung-Ho SuhChairman

APPLE LEISURE GROUPAlex ZozayaChairman & CEO

COCHA TRAVELMario FuenzalidaCEO

DESPEGARRoberto SouvironCEO

DIETHELM TRAVELMaarten GroeneveldCEO

DOURO AZULMário FerreiraPresident & CEO

EL CID RESORTSCarlos BerdeguéCEO

GRUPO MASOEsteban TorbarCEO

HAKUBA HOTEL GROUPAdrian BellCEO

HELLOWORLDElizabeth GainesCEO

JA RESORTS AND HOTELSDavid ThomsonCOO

MINOR HOTEL GROUPDillip RajakarierCEO

NORTHERN CAUCASUS RESORTSSergey Victorovich VereshchaginDirector General

NRMA GROUPTony StuartGroup CEO

PALACE RESORTSJosé Chapur ZahoulPresident

PREMIER HOTELS & RESORTSClaudio SilvestriPresident & CEO

ROTANA HOTEL MANAGEMENT CORPORATIONOmer KaddouriPresident & CEO

SENTOSA DEVELOPMENT CORPORATIONMike BarclayCEO

SHKP HOTELSRicco De BlankCEO

SONEVA RESORTS Sonu ShivdasaniChairman & CEO

SOUTH AMERICAN TOURSFederico BuekerCEO

SWAIN DESTINATIONSIan SwainPresident

THOMAS COOK INDIAMadhaven MenonManaging Director

TREND OPERADORA LTDALuis Paulo LuppaPresident

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