Tourism vs Recession

Heartening News
The G20 world leaders have for the first time, recognised the importance of travel & tourism as a key contributor for creation of jobs, support growth and economic recovery. The Leaders’ Declaration from the annual meeting of the G20 world leaders held in Los Cabos, Mexico, on June 18-19, 2012, stated, “We recognise the role of travel and tourism as a vehicle for job creation, economic growth and development, and, while recognising the sovereign right of states to control the entry of foreign nationals, we will work towards developing travel facilitation initiatives in support of job creation, quality work, poverty reduction and global growth.
According to WTTC, The travel & tourism industry will directly contribute USD two trillion to the GDP and 100 million jobs to the global economy in 2012. When the wider economic impacts of the industry are taken into account, travel & tourism is forecast to contribute some USD 6.5 trillion to the global economy and generate 260 million jobs – or 1 in 12 of all jobs on the planet.
This is indeed commendable and a significant success for the hospitality industry!

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