In 2018, Chinese citizens were the top travelers around the globe, they traveled more than any other nationality in the world.
They reportedly spent $277 billion on international tourism, accounting for five per cent increase from the previous year, a UN World Tourism Organization(UNWTO) report copied to ghanabusinessnews.com has said.
The UNWTO reports that, the United States recorded the second largest, spending seven per cent more, to reach $144 billion.
According to the report, exports generated by international tourism reached $1.7 trillion in 2018, which is a four per cent increase in real terms over the previous year.
The UNWTO believes that the development is good news for economies, as it will translate into job creation, boosting economies.
Commenting, Zurab Pololikashvili, the UNWTO Secretary-General, said, “Revenues from international tourism translate into jobs, entrepreneurship and a better situation for people and local economies, while reducing trade deficits in many countries.”
The report indicated that, “total exports from international tourism include $1,448 billion in international tourism receipts (visitor spending in destinations) and $256 billion in international passenger transport services. Tourism constitutes a key source of foreign exchange and a major tool for export diversification for many destinations”.
It added that, international tourism receipts increased 4 per cent in real terms (adjusting for exchange rate fluctuations and inflation) to reach $1,448 billion in 2018, about $100 billion more than the previous year. This is consistent with the six per cent increase in international tourist arrivals in 2018.
By regions, Asia and the Pacific led the way with seven per cent growth in international tourism receipts, followed by Europe with a five per cent increase, the Middle East saw three per cent growth, while Africa +one per cent and the Americas 0 per cent, the report said.
Central and Eastern Europe and North-East Asia both with +nine per cent were the sub regions with the strongest growth, it added.
The report said, among the world’s top ten source markets, France and the Russian Federation both recorded 11 per cent growth in outbound spending in 2018, while Australia saw a 10 per cent increase.
International expenditure from the United Kingdom also grew by three per cent in 2018, and four per cent from Italy, while Spain enjoyed 12 per cent higher spending on international tourism in 2018, according to the report.
However, Germany and the Republic of Korea both reported flat results.
The report, however said, growth in receipts was fueled by strong demand for international travel in the context of a robust global economy.
By Asabea Akonor & Gifty Danso
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