Tourism

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Browsing Tourism by Subject "Economic impact"

Now showing 1 - 5 of 5
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    A World in motion : Shifting consumer travel trends in 2022 and beyond
    (World Travel & Tourism Council, 2023-01)
    This report is the story of recovery. After the deepest crisis the sector has faced, Travel & Tourism is trending upwards. It has been a delight to witness – and we have greatly admired the agility, determination and vision that many travel providers have shown in getting our sector back on its feet. Not only has tourism recovered at extraordinary speed, but companies are also working hard to transform the sector and win back travellers with new products, technologies and investments in sustainability.
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    Destination Knysna : Towards a sustainable tourism economy in Knysna
    (Knysna Municipality, South Africa, 2019-03)
    The tourism industry continues to be one of the fastest growing sectors in the world, a trend that has had an extremely positive socio-economic impact on many developing countries. Indeed, for those countries with a quality tourism offering, the sector has come to represent one of the main sources of income, with economic and employment benefits reaching across a matrix of related industries. Covering the tip of the African continent, South Africa's diverse landscape, spectacular scenery, temperate climate, cultural diversity, welcoming people, world-class infrastructure, excellent standards of service, and weakened currency have, in the 20 years since the fall of apartheid and sanctions, contributed to establishing the country as a highly desirable tourist destination that offers great value for money for business, leisure, sport, eco, paleo and cultural travellers alike. At the centre of the world-famous Garden Route, Knysna was a key beneficiary of the tourism sector’s growth locally and the industry is now the lifeblood of Greater Knysna’s economy. The town is an aspirational, enticing and popular holiday destination in the minds of local and international leisure travellers. Due to the seasonal nature of leisure tourism, however, the business cycle of Greater Knysna currently amounts to only 4 months of intense activity and trading each year. The tourism industry is of great strategic importance to Knysna Municipality as an enabler of economic development and transformation across its wards. In fact it is one of the few sectors in which Knysna benefits from a clear and compelling competitive advantage due to the abundance, diversity and accessibility of its natural assets - sea, mountains, forests, rivers, lakes, nature reserves and wildlife. To ensure that Knysna is well positioned and sufficiently prepared to extract maximum economic benefit from the shifts taking place in the global market, however, a strategically astute tourism destination plan is essential.
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    Expecting the Unexpected : Tools and Policy Considerations to Support the Recovery and Resilience of the Tourism Sector
    (World Bank, Washington, DC, 2022-06) World Bank
    Tourism has been, and continues to be, one of the most affected sectors by the pandemic, resulting in negative socio-economic consequences for host communities in destinations as well as for underlying endowments that rely on tourists’ expenditure for maintenance and management. Early in 2020 as governments attempted to protect their populations, lockdowns, quarantines,and restrictions on national and international mobility were implemented. This, coupled with the decision of consumers to limit international travel resulted in a sharp contraction for the tourism sector with severe economic consequences, particularly in tourism-dependent low-resource countries. In 2020 international tourist arrivals declined by 74 percent globally and by an average of 85 percent in emerging economies. The situation persisted in 2021 marked by volatility due to emerging variants, with global international arrivals remaining 61 percent below pre-pandemic (2019) levels. In 2021, the economic contribution of tourism improved by US$300m over 2020, however this was still US$1.6 trillion below pre-pandemic values. While travel in 2022 is increasing, and the prognosis for many hotel and tour operators is optimistic for the rest of the year, the effects of the prolonged demand contraction on supply-side enterprises and destinations has been devastating. Analysts continue to expect the sector’s full recovery to take a number of years, an outlook that has been recently dampened by inflation, the Ukraine war and related geopolitical and macroeconomic instability. The aim of this report is to provide insights regarding the types of interventions governments have already implemented and policy considerations for supporting the recovery and resilience of the tourism sector going forward, particularly in light of structural demand and supply-side transformations precipitated or accelerated by COVID-19. The report studies the challenges for recovery faced by governments and the sector from the context of preexisting market and government failures that have been exacerbated by the crisis, as well as those emerging from the pandemic. The report includes several key findings and recommendations.
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    Travel & Tourism Economic Impact 2022 : Global Trends
    (World Travel & Tourism Council, 2022-08)
    While the effect of the COVID-19 pandemic has been felt across the entire Travel & Tourism ecosystem, 2021 saw the beginning of the recovery for the sector. For over 30 years, the World Travel & Tourism Council (WTTC) has been quantifying the economic impact of Travel & Tourism, highlighting the importance of the sector globally. The 2022 annual research which covers 185 countries/economies, and 26 regions of the world, reveals the extent of the recovery in 2021.
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    WTTC Cities Economic Impact 2022 : City Travel is back : Executive Summary
    (World Travel & Tourism Council, 2022-12)
    For the world’s cities, 2022 was a year of revival. As pandemic restrictions have continued to ease, the recovery of global tourism is now well underway and travellers are flocking to cities to live, work, and discover.