Report on World Tourism Economy Trends (2018) Excerpt -4 Tourism will further propel the globalization process

1. International tourism now plays an increasingly important role in the tide of tourism.

First, international tourism has gradually approached domestic tourism in terms of tourist arrivals received and even exceeded the latter in some years (Figure 1.16).

Figure 1.16 Growth Rate of International Tourist Arrivals and Growth Rate of Domestic Tourist Arrivals (2006-2017)

Second, the growth rate of international tourism revenue has been higher than the domestic tourism revenue. Judging from the trend of the past decade: The domestic tourism revenue rose from USD 2.5 trillion in 2006 to USD 3.7 trillion in 2016, representing an overall growth rate of 46.7% and an annual average growth rate of 3.9%, while the international tourism jumped from USD 900 billion in 2006 to USD 1.6 trillion in 2017, increased by 70.2%, representing an annual average growth rate of 5.5% (Figure 1.17). Besides, the international tourism revenue was faster than the domestic tourism revenue in most of the years (Figure 1.18). We expect that in 2018, the growth rate of international tourism revenue will outgrow the domestic tourism revenue, and the domestic tourist arrivals will exceed the international tourist arrivals (Table 1.16).

Figure 1.17 International Tourism revenue and Domestic Tourism revenue (2006-2017)

Figure 1.18 Growth Rates of International Tourism revenue and Domestic Tourism revenue (2006-2017)

Table 1.16 Growth Rates of International Tourism revenue and Domestic Tourism revenue in 2018 (Forecast)

2. The growth rate of international tourism is higher than that of world economy

Judging from the trend over the past decade, the growth rate of international tourism revenue was higher than that of the global economy in 2011 to 2017, and reached 5.5% in 2006 to 2017, which was 1.1% higher than the global economic growth rate of 4.4% (Figure 1.19).

Figure 1.19 Growth Rates of Global Economy and Global Tourism revenue (2006-2017)

3. The growth rate of global tourism economy is higher than that of global trade

The growth rate of global tourism economy is higher than that of global trade. This makes global tourism economy become an important drive for international trade growth and become the biggest part of the trade in services. In 2017, the international trade has recovered to some extent and grown 4.0%, which is 1.6% higher than that in 2016. In particular, the tourism trade has displayed a higher growth rate. As estimated, the tourism trade will grow 4.7%, which is 0.7% higher than that of international grade, in 2017 (Figure 1.20).

Figure 1.20 Growth Rates of Global Trade and Tourism Trade [1] (2006-2017)

4. Tourism has become the biggest component of the international trade in services

Judging from data of the international trade organizations and this research team, in 2016, the international tourist services were the largest component of the trade in services and contributed 25.1% of the total value of trade in services. This figure is 2.3% higher than that of the architectural service trade and 7.3% higher than that of the transport services trade (Figure 1.21).

Figure 1.21 Contributions of Different Components to Trade in Services in 2016 (Export) [2]

Report Notes:

[1] Source of global trade data: World Bank. The data include the trade in goods and services

[2] Trade data in this part come from World Trade Organization, and international tourism data are the calculations of this research team.