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113062
Tue, 03/23/2010 - 16:01
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https://oananews.org//node/113062
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UAE to lead world in tourism jobs growth
Abu Dhabi, Mar 23, 2010 (WAM)- The UAE will lead the world in generating travel and tourism related employment between 2010 and 2020, a new report shows according to a report in "Emirates Business 24/7".
According to the forecasts by World Travel & Tourism Council (WTTC), the UAE will generate 5.7 per cent annualised growth rate in travel and tourism economy employment, the fastest in the world.
The contribution of the T&T economy to employment is expected to surge from 429,000 jobs in 2010 (13.8 per cent of total employment or one in every 7.2 jobs) to 745,000 jobs (18 per cent of total employment or one in every 5.5 jobs) by 2020, WTTC data show. The UAE is followed by Cape Verde, Fiji and Solomon Islands (all 5.4 per cent), Botswana (5 per cent), Nicaragua and Mali (4.9 per cent each), and Comoros (4.8 per cent). With a 4.7 per cent growth rate during the same period, GCC peer Qatar features at No9 on that list, followed by Guatemala (4.5 per cent).
According to WTTC, the contribution of travel and tourism to UAE's GDP is expected to grow from 16.6 per cent (Dh156.3 billion or US$42.56bn) in 2010 to 21.7 per cent (Dh513.9bn or US$139.93bn) by 2020.
The latest report also ranks the UAE fifth among the countries expected to grow their travel and tourism economy GDP the fastest during the 10-year period. The country is expected to clock an annualised rate of 8.1 per cent on the parameter.
According to WTTC, the UAE is expected to earn US$22.2bn in visitor spending in 2010, the tenth largest amount reckoned to be earned by any country in the world this year. Export earnings from international visitors and tourism goods are expected to generate 10.6 per cent of total exports (Dh81.6bn) in 2010, growing (nominal terms) to Dh164.3bn (4.6 per cent of total) in 2020. Travel and tourism investment in the UAE is estimated at Dh79.5bn or 35.1 per cent of total investment in 2010. By 2020, the WTTC expects this to reach Dh224.4bn or 43.2 per cent of total investment.
Travel and tourism is one of the world's most important sectors and employers. According to WTTC, 2009 was a bad year for the global travel and tourism sector, with global travel and tourism economy GDP declining by 4.8 per cent, leading to the loss of almost five million jobs – or 5.6 million since 2008.
Even in such a depressed year for activity as 2009, the WTTC said travel and tourism still employed over 235 million people across the world – 8.2 per cent of all employment – and generated 9.4 per cent of world GDP.
According to the forecasts by World Travel & Tourism Council (WTTC), the UAE will generate 5.7 per cent annualised growth rate in travel and tourism economy employment, the fastest in the world.
The contribution of the T&T economy to employment is expected to surge from 429,000 jobs in 2010 (13.8 per cent of total employment or one in every 7.2 jobs) to 745,000 jobs (18 per cent of total employment or one in every 5.5 jobs) by 2020, WTTC data show. The UAE is followed by Cape Verde, Fiji and Solomon Islands (all 5.4 per cent), Botswana (5 per cent), Nicaragua and Mali (4.9 per cent each), and Comoros (4.8 per cent). With a 4.7 per cent growth rate during the same period, GCC peer Qatar features at No9 on that list, followed by Guatemala (4.5 per cent).
According to WTTC, the contribution of travel and tourism to UAE's GDP is expected to grow from 16.6 per cent (Dh156.3 billion or US$42.56bn) in 2010 to 21.7 per cent (Dh513.9bn or US$139.93bn) by 2020.
The latest report also ranks the UAE fifth among the countries expected to grow their travel and tourism economy GDP the fastest during the 10-year period. The country is expected to clock an annualised rate of 8.1 per cent on the parameter.
According to WTTC, the UAE is expected to earn US$22.2bn in visitor spending in 2010, the tenth largest amount reckoned to be earned by any country in the world this year. Export earnings from international visitors and tourism goods are expected to generate 10.6 per cent of total exports (Dh81.6bn) in 2010, growing (nominal terms) to Dh164.3bn (4.6 per cent of total) in 2020. Travel and tourism investment in the UAE is estimated at Dh79.5bn or 35.1 per cent of total investment in 2010. By 2020, the WTTC expects this to reach Dh224.4bn or 43.2 per cent of total investment.
Travel and tourism is one of the world's most important sectors and employers. According to WTTC, 2009 was a bad year for the global travel and tourism sector, with global travel and tourism economy GDP declining by 4.8 per cent, leading to the loss of almost five million jobs – or 5.6 million since 2008.
Even in such a depressed year for activity as 2009, the WTTC said travel and tourism still employed over 235 million people across the world – 8.2 per cent of all employment – and generated 9.4 per cent of world GDP.
