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Hospitality Industry
Hospitality Industry Key facts - Les Roches International School of Hotel Management in Spain
Hospitality Industry Key facts - Les Roches International School of Hotel Management in Spain
BECOME A LEADER IN THE FASTEST GROWING INDUSTRY
Travel & Tourism is one of the world’s largest and fastest-growing industries. Today it ranks as the largest employer in the world (after the government) offering a broad variety of jobs in many different sectors within hospitality and tourism such as travel agencies, transportation, wellness and spas, theme parks and casinos to name just a few.
The facts below, extracted from the World Travel & Tourism Economic Impact report (2012), look very promising:
- GDP
The direct contribution of Travel & Tourism to GDP was USD 1,972.8bn (2.8% of total GDP) in 2011, and is forecast to rise by 2.8% in 2012, and to rise by 4.2% pa, from 2012-2022, to USD 3,056.2bn in 2022 (in constant 2011 prices)
The total contribution of Travel & Tourism to GDP was USD 6,346.1bn (9.1% of GDP) in 2011, and is forecast to rise by 2.8% in 2012, and to rise by 4.3% pa to USD 9,939.5bn in 2022.
- EMPLOYMENT
In 2011 Travel & Tourism directly supported 98,031,500 jobs (3.3% of total employment). This is expected to rise by 2.3% in 2012 and rise by 1.9% pa to 120,470,000 jobs (3.6% of total employment) in 2022.
In 2011, the total contribution of Travel & Tourism to employment, including jobs indirectly supported by the industry, was 8.7% of total employment (254,941,000 jobs). This is expected to rise by 2.0% in 2012 to 260,093,000 jobs and rise by 2.3% pa to 327,922,000 jobs in 2022 (9.8% of total).
In 2011, the total contribution of Travel & Tourism to employment, including jobs indirectly supported by the industry, was 8.7% of total employment (254,941,000 jobs). This is expected to rise by 2.0% in 2012 to 260,093,000 jobs and rise by 2.3% pa to 327,922,000 jobs in 2022 (9.8% of total).
- VISITOR EXPORTS
Visitor exports generated USD 1,170.6bn (5.3% of total exports) in 2011. This is forecast to
grow by 1.7% in 2012, and grow by 3.6% pa, from 2012-2022, to USD 1,694.7bn in 2022 (4.3%
of total).
- INVESTMENT
Travel & Tourism investment in 2011 was USD 743.0bn, or 4.9% of total investment. It should
rise by 3.5% in 2012, and rise by 5.6% pa over the next ten years to USD 1,320.4bn in 2022
(5.1% of total).
DID YOU KNOW?
- In 2011, the industry contributed 9% of global GDP, or a value of over USD 6 trillion, and accounted for 255 million jobs.
- Over the next ten years this industry is expected to grow by an average of 4% annually, taking it to 10% of global GDP, or some USD 10 trillion.
- By 2022, it is anticipated that it will account for 328 million jobs or 1 in every 10 jobs on the planet.
- InterContinental Hotels Group, as of December 2010, has 1,293 new hotels with 198,141 rooms therefore they will be looking to employ 1,293 General Managers, 6,465 Senior Management positions and 36,204 supervisory staff.
- The top 10 leading hotel groups (InterContinental, Marriott, Hilton, Hyatt, Starwood…) have added about 770,000 rooms to their total inventory since 2010.
- Brand leaders like Accor - with 4,400 hotels & 145,000 employees - maintain strong presence around the globe.
- Asia Pacific alone provides leading brands with significant opportunities for growth.
- The October 2012 STR Global Report disclosed 2,922 hotels totaling 568,189 rooms in the pipeline including projects in the construction, final planning, and planning stages. (http://www.travelpulse.com/str-global-report-releases-hotel-pipeline-data-on-five-regions.html)
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