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Study underlines importance of global travel and tourism sector

Study underlines importance of global travel and tourism sector
28 Apr 2014

A new study, conducted on behalf of the World Travel and Tourism Council, has confirmed that the sector continues to contribute more to the global export sector than it does to global gross domestic product.

According to respected economist John Walker, chairman of Oxford Economics, travel and tourism makes a 5.4 per cent contribution to global trade; by contrast, on average, it contributes direct to the economy about three per cent of gross domestic product.

He said, too, that every country benefits in some way as a result of this reality.

Speaking to the Summit, he added: "People often believe there are more jobs in manufacturing than in tourism but it is not true.

"Maybe people think jobs in tourism are less valuable than in manufacturing, but that is not true."

He did, however, acknowledge that the industry can do more to make it easier for people to travel.ADNFCR-408-ID-801715733-ADNFCR

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