Over the years, WTTC and its research partner, UK-based Oxford Economics (OE), have endeavoured to create a pioneering system of Tourism Satellite Accounting research, which now covers 176 economies around the world. Using the most sophisticated combination of macro-economic research and forecasts, national accounting data/information, Travel & Tourism variables and econometric modelling, WTTC/OE have produced a comprehensive and universal system of research covering all concepts of Travel & Tourism 'Demand', from personal consumption to business purchases, capital investment, government spending and exports. This information is then translated into economic concepts of production, such as gross domestic product (GDP) and employment, which can be compared with other industries and the economy as a whole to provide credible statistical information that will assist in policy- and business decision-making.

Over the past 17 years years, WTTC has endeavoured to produce the most comprehensive TSA provided for within the UNWTO Conceptual Framework - by developing the narrow concept of the Travel & Tourism Industry in addition to the broader concept of the Travel & Tourism Economy - and in so doing, has generated a number of benefits available to government and industry worldwide.

Full implementation of a TSA can help governments understand:

• The economic dynamics of tourism well beyond the traditional scope of expenditure research and production by the travel service sector;
• The relationship between tourism and the crucially important durables sector of the economy;
• The relationship between tourism and government spending to help establish a clear linkage between tourism results and tourism support;
• The balance of payments arising from the comprehensive flow of tourism goods and services necessary to make tourism possible and, in the process, discovery of hidden trade surpluses or deficits;
• The relationship between tourism and capital investment to assist in long-term planning for infrastructure, resort development, promotion, etc;
• The difference between the immediate impact of tourism 'industry' GDP and employment and the broader impact of tourism 'economy' GDP and employment, which can facilitate their policy analysis and decision-making;
• The interplay between a tangible, but unsatisfactory, supply-side perspective of employment generated by characteristic activities and the more theoretical, but accurate, perspective of demand-side generated employment.

Full implementation of the a TSA can help industry understand:

• A wealth of customer and consumer information on tourism-related purchases (both domestic and international, imported or exported, services, durables, or non-durables, and purchases made before, during and after a trip) that has never before been available;
• The full tourism product service chain and government's ability to deliver quality and timely service to visitors;
• The history and forecast for public works that have benefited/will benefit visitors and travel companies in order to capitalize on public sector intentions and priorities for growth;
• The opportunities for domestic production and for negotiating incentives from the public sector to aid in the growth of businesses, which help alleviate trade balance issues;
• The critical dual-perspective employment information that will allow industry to plan their human resource requirements and develop new and innovative ways to attract, retain and grow their workforce.

There is little doubt that WTTC's Satellite Accounting research programme has made a major contribution to ensuring that Travel & Tourism is today increasingly considered as an industry fully justifying mainstream economic and policy consideration. It has also enabled the industry to initiate a broader and more in-depth dialogue with government about how Travel & Tourism can be used as an economic development tool.