23 June 2010, London, UK
Following the announcement of the UK Government's emergency budget, the World Travel & Tourism Council (WTTC) responds:
"This is a difficult budget in a tough economic climate in which there are no easy options and many nations are being forced to tighten their belts.
"However, at £140 billion the share of the UK's Travel & Tourism economy GDP is higher than that of its £114 billion financial & business services sector (respectively 10.1% compared to 9.2%). Yet Travel & Tourism has received very little direct support compared to the £850 billion given to the financial sector.
"Investment in Travel & Tourism has the very real potential to grow national and local economies and create employment opportunities. That investment need not come from the public purse, but could begin with a serious discussion between the public and private sector industry around the potential barriers to growth such as Air Passenger Duty or visa policies."
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For further information, please contact:
Elliott Frisby
Communications Director
44 (0) 20 7481 8007
44 (0) 7891 937931
elliott.frisby@wttc.org
Anja Eckervogt
Communications Co-ordinator
44 (0) 20 7481 8007
anja.eckervogt@wttc.org
Notes to Editors
- The World Travel & Tourism Council (WTTC) was established in 1990 with Members representing the world's foremost leaders in the private sector of Travel & Tourism. It aims to promote the importance of the industry as a generator of economic growth, encourage public-private partnerships, and persuade governments to adopt policies that will allow the industry to thrive. WTTC's annual Global Travel & Tourism Summit brings together over 1,000 delegates to discuss the opportunities, challenges and issues facing the industry, while its Tourism for Tomorrow Awards recognise the industry's power to be a positive force in sustainability.
- The Travel & Tourism Economy contributes US$5,751 billion to global GDP, 9.2% of the total. This is expected to grow to US$11,151 billion (9.6%) by 2020. The industry (directly and indirectly) supports over 235 million jobs in 2010, and the total is forecast to increase to just over 303 million by 2020. Travel & Tourism investment is estimated at US$1,241 in 2010 and should reach US$2,757 billion by 2020.
- To view photos, speeches and other material from the 2010 Global Travel & Tourism Summit, please visit www.globaltraveltourism.com.
