GLOBAL TOURISM TRENDS AND CHANGES

[Audio] Good morning/afternoon everyone. Today I'll be discussing global tourism trends and changes, the economic impact they have and the employment trends of 2019 and 2021. I've got some interesting facts and figures to share with you and I really hope you find them interesting! Let's jump right in..

[Audio] The economic impact of global tourism is undeniable, as demonstrated in the image. Tourists spend money on a range of services and products, from hotels to retail stores, which brings a positive effect to local and global economies. At the same time, global tourism also has the potential to cause over-tourism, displace local people, and lead to environmental damage. To ensure the sustainability of the industry, it is crucial to be aware of global tourism trends and changes and take the necessary action..

[Audio] The Travel & Tourism sector had an impressive growth before the pandemic in 2020. Nevertheless, it faced a dramatic decline in the same year regarding its contribution to the global economy. Nevertheless, in 2021 the sector showed a promising recovery with a growth rate of 21.7%. This highlights both the significance of the sector to the global economy and the potential for further growth..

[Audio] Global travel has been increasing drastically in the past few years and this momentum is showing no signs of slowing down. The tourism industry is ever-evolving, making it difficult to predict. Businesses within this sector need to stay up to date on the trends to ensure they are taking advantage of the new markets and services that global tourism offers. Proactive marketing tactics should be used to keep competitive in this expanding arena. Understanding the global tourism trends helps to inform product development and expansion strategies, thus staying ahead of the curve. Ultimately, for the tourism industry to be successful, businesses must remain current with the changing trends of international travelers and maximize the opportunities that global travel provides..

[Audio] International tourism is composed of inbound and outbound tourism. Inbound tourism is the activities of non-resident visitors within the country of reference while outbound tourism is the activities of resident visitors outside the country of reference. With an increasing number of people travelling across borders, changes in the trends of international tourism have become more evident. It is important to stay well informed of these trends to remain competitive in the industries related to tourism..

[Audio] Global tourism is an ever-expanding industry, showing no signs of stopping. Consequently, destinations strive to differentiate themselves from rivals and optimize their services to suit current customers' needs. Attention must be paid to modern travel and accommodation trends, as well as comprehending the target audience and the experiences they are after. This enables destinations to offer what customers want and keep ahead of competitors..

[Audio] Singapore has seen considerable growth in international tourism, especially from India, with 686.57 thousand visitors recorded in 2022. This can be largely attributed to the resurgence of the travel industry, post the disruption due to the COVID-19 pandemic. As a prominent destination for global tourism, Singapore has evolved tremendously since 1965 when the number of visitors was only 99000. Today, it has a staggering visitor count of 21.1 million in 2020 and an anticipated market revenue of US $4,100m by 2024..

DOMESTCTRENDS.

[Audio] The growing trend of domestic tourism in India is an example of the evolving travel landscape. Indians are increasingly taking advantage of the wide range of holiday options available in their own country - from sea side getaways to hill stations, wildlife reserves to historical sites. This rise in domestic tourism is in part due to the ease of weekend holidaying, with popular locations just a short drive or flight away..

DOMESTIC TRENDS IN TOURISM.

EMPLOYMENT.

[Audio] Global tourism is constantly evolving and changing. A recent study found that in 2019, the top nine countries for travel and tourism employment were China, India, United States, Indonesia, Philippines, Thailand, Brazil, Mexico and Germany. China had the highest employment rate at 82,240 thousand people, with India and the United States following with 40,104 thousand and 16,804 thousand people respectively. Moving to 2021, China is still in the lead with 73,314 thousand employees, followed by India and Indonesia at 32,105 thousand and 10,947 thousand respectively. The United States, Philippines, Thailand, Brazil, Mexico and Japan make up the rest of the top nine with 10,498 thousand, 7,820 thousand, 6,865 thousand, 6,404 thousand, 6,026 thousand and 5,503 thousand employees respectively. It is evident from these statistics that while some countries are mostly keeping their positions, others are seeing changes in their rankings..

[Audio] Good morning everyone. Over the next 10 years, the Asia-Pacific region is expected to experience remarkable growth in the tourism sector. Between 2022 and 2032, Travel and Tourism GDP in the region is projected to grow at 8.5%, compared to the 4% growth rate forecasted for the entire regional economy. In addition, the sector will create an estimated 76.9 million new jobs, accounting for 64.8% of all new Travel and Tourism related jobs in the world. It is evident that tourism in the Asia-Pacific region is becoming an increasingly significant economic factor..

[Audio] The slide shows that the Americas will experience an impressive growth in the tourism sector in 2022, with a projected 36.1% increase. This growth will then take the sector back to pre-crisis levels by the end of 2023. Additionally, between 2022 and 2032, the tourism sector is forecasted to contribute an average of 3.9% to the GDP of the region, which is higher than the expected average annual growth for the regional economy as a whole of 2%. These figures demonstrate that the Americas region will remain a major player in the global tourism industry..

[Audio] The global tourism industry has been fundamentally altered by technology, offering more access, customization and sustainability. Predictions indicate that the worldwide tourism sector will achieve a value of USD 16.9 Trillion by 2030, with the most rapid development existing in the Asia Pacific area..

[Audio] Global tourism has seen tremendous growth and evolution over the years, with technological advancements, changing customer attitudes, and new travel trends. This presentation explored some of the most current trends and changes in the industry. Coverage included digital technology's influence on the sector, customer demands and preferences, and what the future of the industry holds. For further insight, multiple sources, including the Class 12 Tourism book, Wikipedia, Encyclopedia.com, Citizendium, and the World Tourism Organization, were consulted. Mohamed Arfath is grateful for everyone's time and attention..