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World Economic Forum – The Travel & Tourism Competitiveness Report 2013

This year’s Competitiveness Report 2013 is published under the theme “Reducing Barriers to Economic Growth and Job Creation,” which reflects the forward-looking attitude of the sector as it aims to ensure strong growth going into the future. The Travel & Tourism.

The Travel & Tourism (T&T) industry has managed to remain relatively resilient over the recent year despite the uncertain global economic outlook, which has been characterized by fragile global economic growth, macroeconomic tensions, and high unemployment in many countries. Indeed, the sector has benefitted from the continuing globalization process: travel has been increasing in mature markets and, particularly, has been driven by the rising purchasing power of the growing middle class in many developing economies.

In such a context, Travel & Tourism has continued to be a critical sector for economic development and for sustaining employment, in both advanced and developing economies. A strong T&T sector contributes in many ways to development and the economy. It makes both direct contributions, by raising the national income and improving the balance of payments, and indirect contributions, via its multiplier effect and by providing the basis for connecting countries, through hard and soft infrastructure -attributes that are critical for a country’s more general economic competitiveness. Although developing the T&T sector provides many benefits, numerous obstacles at the national level continue to hinder its development. For this reason, seven years ago the World Economic Forum, together with its Industry and Data Partners, embarked on a multi-year research effort aimed at exploring various issues related to the T&T competitiveness of countries around the world.

This year’s Report is published under the theme “Reducing Barriers to Economic Growth and Job Creation,” which reflects the forward-looking attitude of the sector as it aims to ensure strong growth going into the future.

World Economic Forum – The Travel & Tourism Competitiveness Report 2013

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Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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