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Tourism Contributes Billions to World Economy |
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Monday, September 9, 2019
Madrid.- The global tourism industry generated some five billion dollars a day in 2018, with an annual growth of around 4 percent.
To account for this amount, foreign tourism revenues in each country and the cost of passenger transport are taken into account.
This way, tourist arrivals grew by 5 percent in 2018, reaching 1.4 billion earlier than expected by the World Tourism Organization.
For the experts, this trend was influenced by a favorable economic environment, a growing middle class in emerging economies, technological breakthroughs and an increase in air transport capacity.
Asia and the Pacific and Africa led the growth in tourist arrivals with a 7-percent increase in 2018, while Asia, the Pacific and Europe enjoyed an above-average growth in tourism revenues.
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