WTTC reveals strong growth for Argentina Travel and Tourism

26 March, 2007

Buenos Aires, Argentina - 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 strong performance for Travel & Tourism Demand in Argentina in 2007, growing at a rate of 7.6 per cent. This forecast points to a rapid but steady phase of growth for Argentinean Travel & Tourism in the short and medium term, averaging 4.4 per cent per annum over the coming decade.

According to WTTC's latest findings, Argentina positions itself as the third largest Travel & Tourism economy in Latin America, after Mexico and Brazil, with Travel & Tourism Demand accounting for more than ARS84.0 bn (US$26.6 bn) in 2007.

During the press conference WTTC President Jean-Claude Baumgarten commented, "Argentina has made a strong recovery following the economic instability over recent years. Visitor exports make up a very important share of Travel & Tourism's contribution to GDP. Of total Argentina exports, Travel & Tourism is expected to generate 13.1 per cent (ARS24.2 bn or US$7.7 bn) in 2007. However the Argentinean government should focus on the industry's potential for job creation and economic development for the country to gain greater world market share."

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 Argentina 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.
For further information please contact:
enquiries@wttc.org
www.wttc.org
www.globaltraveltourism.com