The global economic contribution of Travel & Tourism, as defined by the World Travel & Tourism (WTTC) and Oxford Economics, is consistent with the United Nations Statistics Division-approved Tourism Satellite Account: Recommended Methodological Framework (TSA: RMF 2008), in terms of what is measured. But the global research does not constitute a TSA in itself and should not be considered a replacement for individual country TSAs.
WTTC and Oxford Economics ensure that country-level measures are as consistent as possible with TSA data reported by the relatively small number of countries around the world that have undertaken all the required, detailed calculations and have for full TSAs. However, since the majority of countries still do not have full TSAs (although data from available TSAs represent close to 80% of global direct Travel & Tourism activity), the WTTC/Oxford Economics' calculations depend on benchmarking to try to ensure that the estimates for all other countries are on a consistent basis for all TSA components.
The TSA:RMF 2008 quantifies only the direct contribution of Travel & Tourism. WTTC, on the other hand, recognises that Travel & Tourism's total contribution is much greater, and aims to capture its indirect and induced impacts through its annual research. The resulting calculations are consistent with the "wider effects" specified and defined in the TSA:RMF 2008 for the required ten TSA tables, as well as with the wider indirect and induced effects acknowledged in the TSA:RMF annexed methodology document.
The main objective of the WTTC / Oxford Economics economic impact research is to provide, on an annual basis: consistent, reliable, timely and comparable data and forecasts to assess Travel & Tourism’s contribution to national economic activity.
This includes the number of jobs and GDP created by the Travel & Tourism industry, both directly and in total, and measured as a percentage contribution of total economy employment and GDP.