The latest edition of the UNWTO World Tourism Barometer confirms the rapid slowdown of international tourism growth since mid-2008, reflecting the impact of rising oil prices at the beginning of the year and the deterioration of the economic situation, as well as of consumer confidence, in recent months. Overall growth for 2008, however, is still projected at around 2%, building on the strong results of the first five months. UNWTO’s “Resilience Committee” will support its Members with accurate economic analysis and response mechanisms. The tourism sector’s effective response to the economic downturn will be discussed at the
Global Ministers’ Summit at World Travel Market (London, UK, 11 November). A series of regional response groups will follow, starting in the Middle East (Sharm el Sheikh, Egypt, 23-24 November).
Slowdown in Tourism Growth Reflects Current Uncertainties
London, UK/Madrid, Spain, 10 November 2008
The latest edition of the UNWTO World Tourism Barometer confirms the rapid slowdown of international tourism growth since mid-2008, reflecting the impact of rising oil prices at the beginning of the year and the deterioration of the economic situation, as well as of consumer confidence, in recent months. Overall growth for 2008, however, is still projected at around 2%, building on the strong results of the first five months. UNWTO’s “Resilience Committee” will support its Members with accurate economic analysis and response mechanisms. The tourism sector’s effective response to the economic downturn will be discussed at the
Global Ministers’ Summit at World Travel Market (London, UK, 11 November). A series of regional response groups will follow, starting in the Middle East (Sharm el Sheikh, Egypt, 23-24 November).
After a sound start to the year (international tourist arrivals worldwide averaged 5.7% from January-April), growth fell below 2% in June, July and August as the high price of oil and rising inflation took their toll and, together with recession fears, squeezed travel budgets. For the first eight months of 2008, growth averaged 3.7% compared with the same period in 2007, while for the year as a whole it is now projected to be around 2% globally.
As the current troubled economic scenario is expected to continue into 2009, UNWTO’s initial forecast for next year is for an even more modest performance.
Asia and the Pacific was the region whose growth has deteriorated most rapidly so far, after 18 consecutive months of sustained growth, declining from March onwards and even sliding into negative growth in August.
Growth in Europe also stagnated over the northern hemisphere summer months. The Americas, Africa and the Middle East weakened as well, but the slowdown was much less pronounced.
05/10/2009 02:59 
UNWTO 
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