Strong growth in Chile Travel and Tourism predicted
28 March, 2007
Santiago, Chile - Latin America Travel & Tourism is expected to generate US$186.4bn of economic activity, growing to US$304.3bn by 2017 according to the World Travel & Tourism Council's (WTTC) 2007 Tourism Satellite Account (TSA) research, sponsored by Accenture and prepared by Oxford Economics.
Today, WTTC announced that Travel & Tourism will grow at a staggering rate of 12.3 per cent in 2007. This forecast points to intensive and rapid phase of growth for Chilean Travel & Tourism in the short and medium term, averaging 6.3 per cent per annum, over the coming decade.
According to the latest findings, Chile has the fifth largest Travel & Tourism economy in Latin America with a Travel & Tourism Demand accounting for CLP6,581.7 bn (US$12,101.1 mn) in 2007.
During the press conference WTTC President, Jean-Claude Baumgarten commented, "In light of intense Travel & Tourism growth, Chile faces great opportunities to make Travel & Tourism a strategic priority and to develop its own plans to realize the full potential that this industry can bring to job creation and economic development for the country. It must however ensure that it has the infrastructure to meet with the high demand."
Globally, Travel & Tourism is growing at a steady annual rate of 4.3 per cent over the next ten years. However this continued growth in global Travel & Tourism demand presents a more dynamic and challenging business environment than ever before.
Mr. Baumgarten continued, "The thriving Travel & Tourism industry can certainly generate jobs and can spread prosperity around the world. However, the full potential of Travel & Tourism can only be realized, with the full and long term support of government. Issues such as infrastructure, education and the sustainable development of Travel & Tourism can only be addressed - effectively - with public and private sector partners working in synergy."
These issues will be addressed at the industry's highest level gathering, the 7th Global Travel & Tourism Summit, which will take place in Lisbon, Portugal from May 10 to 12, 2007. In order to start the debate now, WTTC has opened the Summit's first Interactive Web Channel. This can be accessed at www.globaltraveltourism.com/webchannel/
For a copy of the full TSA report on Latin America and Chile please go to www.wttc.org
ENDS
About the World Travel & Tourism Council
WTTC is the forum for business leaders in the Travel & Tourism industry. With Chief Executives of some one hundred of the world's leading Travel & Tourism companies as its Members, WTTC has a unique mandate and overview on all matters related to Travel & Tourism.
WTTC works to raise awareness of Travel & Tourism as one of the world's largest industries, employing approximately 231 million people and generating over 10 per cent of world GDP.
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