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Dubai: Globally, travel and tourism demand is expected to generate around $7,893 billion of worldwide economic activity in 2008, reaching highs of $14,838 billion by 2018.
This year the travel industry is expected to account for 9.9 per cent of global GDP, contributing around $5,890 billion in economic activity.
In 2018, this figure is predicted to hit $10,855 billion, according to Tourism Satellite Accounting (TSA), the tourism measuring tool of the United Nations.
In 2008, travel and tourism in the UAE is expected to generate Dh286.2 billion ($77.9 billion) of economic activity (total demand), growing to Dh498.8 billion ($135.82 billion) by 2018, according to the latest research report by the World Travel and Tourism Council (WTTC).
The industry is expected to contribute directly 6.4 per cent to gross domestic product (GDP) in 2008 to Dh51.9 billion or $14.12 billion, rising in nominal terms to Dh111.1 billion ($30.26 billion or 8.7 per cent of total) by 2018.
The UAE travel and tourism industry should grow from 22.6 per cent (Dh182.2 billion or $49.6 billion) to 23.7 per cent (Dh304.1 billion or $82.80 billion) in the same period.
In the Middle East, demand is expected to reach $251.428 billion in 2008 and grow to $456.10 billion in 2018.
The tourism industry currently accounts for more than 30 per cent of Dubai's GDP, according to WTTC statistics.
Government figures show Dubai's GDP in 2007 was around $198 billion, meaning travel and tour-ism accounted for more than $59 billion.
Travel and tourism will play a vital role in achieving a desired economic growth of 11 per cent a year by 2015, and to triple Dubai's GDP.
Personal travel and tourism tops the table, contributing the largest portion towards travel and tourism demand, generating $3,212 billion. Business travel alone generates $843 billion.
In 2008, the travel and tourism market will create 238.3 million jobs worldwide, around 8.4 per cent of total employment.
In 2018, 296.3 million jobs are expected to be available, around 9.2 per cent of total employment.
Emerging markets
Over the next 10 years, smaller emerging markets will also be contributing significantly to the travel and tourism sector.
While the United States, China, Japan and Germany will continue to lead in terms of travel and tourism demand, India will be the world's number one in terms of annual growth, averaging 9.4 per cent a year between this year and 2018.
Figures: Channel-wise data
- Contributions 2008 - 2018
- Personal travel and tourism $3,212 - $5,460
- Capital investment $1,354 - $3,146
- Visitor exports $1,118 - $12,189
- Other exports $985 - $1,984
- Business travel $843 - $1,443
- Government expenditures - $381 $616
Travel and tourism demand in 2008
- United States $ 1,747.5
- China $592
- Japan $514.3
- Germany $505.7
- France $418.8
- Figures in billions
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