WTCF: Global tourism recorded over 12 billion tourists and revenues of $ 5,8 trillion
Source / photo: World Federation of Tourist Cities According to the report, the total number of tourists globally in 2019 (including domestic as well as incoming visits from abroad) reached the figure of 12,31 billion visitors, which is an increase of 4,6 place compared to the previous year; gross income of global tourism (including income from domestic as well as incoming visits from abroad) reached the figure of $ 5,8 trillion, what does it represent6,7 percent of global GDP, and a decrease of 0,1 percent compared to the previous year. The trend of fluctuations in global incoming and domestic tourism revenues has slowed and is expected to achieve five consecutive increases. Looking to 2020, global tourism will face uncertain elements and achieve a smaller increase. The growth rate of global tourism revenues is projected to be this year 3,6 place, and the growth rate of Chinese tourism revenue will reach 6,1 place. The WTCF is the world’s first international tourism organization to focus on cities. Since its founding in 2012, the WTCF has maintained the fundamental concept of better urban living through tourism, actively building multilateral world tourism exchange platforms, seeking to promote cooperation and exchange between international cities, comprehensively increasing the competitiveness and impact of world cities, to bring new vitality to development global tourism. Last week, the World Federation of Tourist Cities (WTCF), in collaboration with the Tourism Research Center of the Chinese Academy of Social Sciences (TRC-CASS), published a Report on World Tourism Economy Trends for 2020. You can find the complete report HERE. The world today is in a state of unprecedented change. International trade, production and global energy structures, along with the global financial system, are subject to profound adjustments and rapid change. Especially in 2019, production and trade are quite inactive and slow, while trade and investment disputes intensified, affecting the industrial structure and financial stability. As a result, the world economy is struggling with multiple risks and challenges. The tourism industry, as an important carrier of cultural exchange, social communication and trade, affects the growing risk of global economic growth on the one hand, and on the other has an irreplaceable role in deepening cooperation and promoting development. The report provides a panoramic analysis of topics such as the development trend of the world tourism economy, changes in regional development structure, outstanding characteristics of key countries, fundamental supporting roles of cities from different perspectives at the global, regional, national and urban levels. Also, based on last year’s “T20” concept, it presents an in-depth interpretation of the “T20” countries on the characteristics of tourism development and trends in recent years. Since 2016, WTCF and TRC-CASS have jointly published an annual report on global tourism economy trends. Its goal is to overcome the development trend in all perspectives, giving an in-depth analysis of hot issues in the tourism market. It also aims to scientifically predict the future of global tourism, serving as a reference and intellectual support to governments, affiliated cities and the sector, to enable decision-making.