Travel and tourism industry is one of the largest growing sectors in the country that contributes a lion share to the economy. According to the report presented by the World Travel and Tourism Council, this industry had a great economic impact on the country’s GDP and employment rates. Reports states that, in 2011 the travel and tourism sector contributed 8.7 percent of the nation’s GDP which may be about U.S $1,315.6 billion.
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The council also estimates that there will be an increment of 0.8 percent in the year of 2012 and 3.1 percent rise by 2022. The economic impact of the travel and tourism sector is assessed by considering the direct, indirect and induced contributions. Direct contributions mean the investment by the internal government authorities and other business firms. This may be invested by the residents and non-residents of the country in diverse sections such as hotels, airports, foods etc. A tourist deals directly with these fields which turn out to be a direct economic contribution.
Indirect and Induced economic impacts constitutes the total economic contribution. Implementing new plans in tourism through different ways is termed as indirect economic impact. It may be the tourism promotional activities, reconstruction of buildings, increasing the airline services in country etc. Employees working in the travel and tourism sector contribute a part to the national economy. It may come from the citizens who are directly or indirectly working in this service sector. Employments in accommodations, Retail trade, food services, recreational activities etc work in association with the travel and tourism sector.
World Travel and Tourism Council even states the impact of this service sector in the employment rate of the country. According to the report, the total contribution of travel and tourism in the job industry is 10.2 percent which means about 14,307,500 jobs. This estimation includes the employments that are supported both directly and indirectly. But it is expected that there will be a job decline of 0.7 percent in 2012. But as the travel and tourism sector is putting the maximum efforts to regain the strength, there will be a job growth of 1.9 percent by the year 2022.
It will be 17, 22,300 jobs in number and 10.6 percent of the total employment of the country. So from all these reports and estimations, it is clear that a career in this booming industry will be a right option. Individuals who are passionate about travel and good in customer service skills can surely go for this career.
