Tourism Industry 2018 - Argentina

TRAVEL & TOURISM
ECONOMIC IMPACT 2018
ARGENTINA

“Inclusive growth and ensuring a future
with quality jobs are the concerns of
governments everywhere. Travel &
Tourism, which already supports one in
every ten jobs on the planet, is a dynamic
engine of employment opportunity.”
Gloria Guevara Manzo, President & CEO
World Travel & Tourism Council
For more information, please contact:
ROCHELLE TURNER | Research Director
rochelle.turner@wttc.org
ECONOMIC
IMPACT2018

A
s one of the world’s largest economic sectors, Travel & Tourism
creates jobs, drives exports, and generates prosperity across the
world. In our annual analysis of the global economic impact of
Travel & Tourism, the sector is shown to account for 10.4% of
global GDP and 313 million jobs, or 9.9% of total employment, in 2017.
The right policy and investment decisions are only made with empirical
evidence. For over 25 years, the World Travel & Tourism Council (WTTC) has
been providing this evidence, quantifying the economic and employment
impact of Travel & Tourism. Our 2018 Annual Economic Reports cover 185
countries and 25 regions of the world, providing the necessary data on 2017
performance as well as unique 10-year forecasts on the sector’s potential.
2017 was one of the strongest years of GDP growth in a decade with
robust consumer spending worldwide. This global growth transferred again
into Travel & Tourism with the sector’s direct growth of 4.6% outpacing
the global economy for the seventh successive year. As in recent years,
performance was particularly strong across Asia, but proving the sector’s
resilience, 2017 also saw countries such as Tunisia, Turkey and Egypt that
had previously been devastated by the impacts of terrorist activity,
recover strongly.
This power of resilience in Travel & Tourism will be much needed for
the many established Travel & Tourism destinations that were severely
impacted by natural disasters in 2017. While our data shows the extent
of these impacts and rates of recovery over the decade ahead, beyond
just numbers, WTTC and its Members are working hard to support local
communities as they rebuild and recover.
Inclusive growth and ensuring a future with quality jobs are the concerns
of governments everywhere. Travel & Tourism, which already supports
one in every ten jobs on the planet, is a dynamic engine of employment
opportunity. Over the past ten years, one in five of all jobs created across
the world has been in the sector and, with the right regulatory conditions
and government support, nearly 100 million new jobs could be created over
the decade ahead.
Over the longer term, forecast growth of the Travel & Tourism sector will
continue to be robust as millions more people are moved to travel to see
the wonders of the world. Strong growth also requires strong management,
and WTTC will also continue to take a leadership role with destinations
to ensure that they are planning effectively and strategically for growth,
accounting for the needs of all stakeholders and using the most advanced
technologies in the process.
WTTC is proud to continue to provide the evidence base required in order
to help both public and private bodies make the right decisions for the
future growth of a sustainable Travel & Tourism sector, and for the millions
of people who depend on it.
Gloria Guevara Manzo
President & CEO
TRAVEL & TOURISM ECONOMIC IMPACT 2018
FOREWORD
Cover: Jack Anstey, Unsplash
Inside cover: Derek Thomson, Unsplash
10.4%
Travel & Tourism GDP as a
percentage of global GDP.
1/10jobs are supported by Travel &
Tourism. This is 9.9% of global
employment.
1/5of all global net jobs created in
last decade have been within the
Travel & Tourism sector.
THE ECONOMIC IMPACT
OF GLOBAL TRAVEL &
TOURISM
4.6%
Direct Travel & Tourism GDP
growth in 2017.

CONTENTS
THE ECONOMIC IMPACT
OF TRAVEL & TOURISM
MARCH 2018
FOREWORD
2018 ANNUAL RESEARCH: KEY FACTS 1
DEFINING THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM 2
TRAVEL & TOURISM’S CONTRIBUTION TO GDP 3
TRAVEL & TOURISM’S CONTRIBUTION TO EMPLOYMENT 4
VISITOR EXPORTS AND INVESTMENT 5
DIFFERENT COMPONENTS OF TRAVEL & TOURISM 6
COUNTRY RANKINGS: ABSOLUTE CONTRIBUTION, 2017 7
COUNTRY RANKINGS: RELATIVE CONTRIBUTION, 2017 8
COUNTRY RANKINGS: REAL GROWTH, 2018 9
COUNTRY RANKINGS: LONG TERM GROWTH, 2018 - 2028 10
SUMMARY TABLES: ESTIMATES & FORECASTS 11
THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM: REAL 2017 PRICES 12
THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM: NOMINAL PRICES 13
THE ECONOMIC CONTRIBUTION OF TRAVEL & TOURISM: GROWTH 14
GLOSSARY 15
METHODOLOGICAL NOTE 16
REGIONS, SUB-REGIONS & COUNTRIES 17

forecast to grow by 6.8% in 2018, and grow by 5.4% pa, from 2018-2028, to ARS163.8bn (USD9.9bn) in 2028,
9.0% of total.
= TOTAL CONTRIBUTION OF TRAVEL & TOURISM
1
All values are in constant 2017 prices & exchange rates
ARGENTINA
2018 ANNUAL RESEARCH: KEY FACTS
2018 FORECAST
EMPLOYMENT: DIRECT CONTRIBUTION
EMPLOYMENT: TOTAL CONTRIBUTION
VISITOR EXPORTS
INVESTMENT
TOTAL CONTRIBUTION OF
TRAVEL & TOURISM TO GDP
BREAKDOWN OF TRAVEL & TOURISM'S TOTAL
CONTRIBUTION TO GDP AND EMPLOYMENT 2017
GDP (2017 ARSbn)
DIRECT INDIRECT INDUCED
0
200
400
600
800
1,000
1,200
1,400
1,600
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2028
2017 ARSbn
EMPLOYMENT
('000)
The direct contribution of Travel & Tourism to GDP was ARS381.8bn (USD23.0bn), 3.7% of total
The total contribution of Travel & Tourism to GDP was ARS1,055.8bn (USD63.6bn), 10.3% of GDP in 2017, and is
forecast to rise by 4.3% in 2018, and to rise by 2.4% pa to ARS1,393.8bn (USD84.0bn), 10.1% of GDP in 2028.
In 2017 Travel & Tourism directly supported 644,000 jobs (3.5% of total employment). This is expected to rise
by 3.2% in 2018 and rise by 1.5% pa to 771,000 jobs (3.7% of total employment) in 2028.
Visitor exports generated ARS90.3bn (USD5.4bn), 7.6% of total exports in 2017. This is
Travel & Tourism investment in 2017 was ARS119.3bn, 7.5% of total investment (USD7.2bn). It should rise by
10.2% in 2018, and rise by 2.2% pa over the next ten years to ARS163.0bn (USD9.8bn) in 2028, 7.0% of total.
2028
GDP: DIRECT CONTRIBUTION
GDP: TOTAL CONTRIBUTION
the industry was 9.8% of total employment (1,809,000 jobs). This is expected to rise by 3.7% in 2018 to
1,875,500 jobs and rise by 1.3% pa to 2,125,000 jobs in 2028 (10.1% of total).
1
WORLD RANKING (OUT OF 185 COUNTRIES):
Relative importance of Travel & Tourism's total contribution to GDP
20 87 80 165
ABSOLUTE RELATIVE SIZE GROWTH LONG-TERM GROWTH
Size in 2017 Contribution to GDP in 2017 2018 forecast Forecast 2018-2028
DIRECT
+ INDIRECT
+ INDUCED
237
437
382
644
740
425
GDP in 2017 and is forecast to rise by 3.5% in 2018, and to rise by 2.5% pa, from 2018-2028, to ARS504.1bn
(USD30.4bn), 3.7% of total GDP in 2028.
In 2017, the total contribution of Travel & Tourism to employment, including jobs indirectly supported by
TRAVEL & TOURISM ECONOMIC IMPACT 2018 | 1

●
●
●
DIRECT
Travel & Tourism contribution
COMMODITIES
● Accommodation
● Transportation
● Entertainment
● Attractions
INDIRECT INDUCED TOTAL
INDUSTRIES Travel & Tourism contribution Travel & Tourism
● Accommodation services contribution (spending of direct and contribution
● Food & beverage services indirect employees)
● Retail Trade ● T&T investment spending
● Transportation services
● Cultural, sports & recreational ● Government collective T&T ● Food and beverages ● To GDP
services spending ● Recreation
● Clothing ● To employment
SOURCES OF SPENDING ● Impact of purchases from ● Housing
● Residents' domestic T&T suppliers ● Household goods
spending
● Businesses' domestic travel
spending
● Visitor exports
● Individual government T&T
spending
DEFINING THE ECONOMIC
CONTRIBUTION OF TRAVEL & TOURISM
Travel & Tourism is an important economic activity in most countries around the world. As well as its direct economic impact, the
industry has significant indirect and induced impacts. The UN Statistics Division-approved Tourism Satellite Accounting
methodology (TSA:RMF 2008) quantifies only the direct contribution of Travel & Tourism. But WTTC recognises that Travel &
Tourism's total contribution is much greater, and aims to capture its indirect and induced impacts through its annual research.
DIRECT CONTRIBUTION
The direct contribution of Travel & Tourism to GDP reflects the ‘internal’ spending on Travel & Tourism (total spending within a particular
spending by government on Travel & Tourism services directly linked to visitors, such as cultural (eg museums) or recreational (eg national parks).
The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in National Accounting,
tourists. The direct contribution of Travel & Tourism to GDP is calculated from total internal spending by ‘netting out’ the purchases made
by the different tourism sectors. This measure is consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite
The total contribution of Travel & Tourism includes its ‘wider impacts’ (ie the indirect and induced impacts) on the economy. The ‘indirect’
contribution includes the GDP and jobs supported by:
Travel & Tourism investment spending – an important aspect of both current and future activity that includes investment activity
such as the purchase of new aircraft and construction of new hotels;
Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on behalf of the
Domestic purchases of goods and services by the sectors dealing directly with tourists – including, for example, purchases of food and
cleaning services by hotels, of fuel and catering services by airlines, and IT services by travel agents.
The ‘induced’ contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly employed by the
Travel & Tourism industry.
PLEASE NOTE THAT DUE TO CHANGES IN METHODOLOGY BETWEEN 2010 AND 2011, IT IS NOT POSSIBLE TO COMPARE FIGURES PUBLISHED BY WTTC FROM 2011 ONWARDS
WITH THE SERIES PUBLISHED IN PREVIOUS YEARS.
country on Travel & Tourism by residents and non-residents for business and leisure purposes) as well as government 'individual' spending -
of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure and recreation services that deal directly with
Account: Recommended Methodological Framework (TSA: RMF 2008).
‘community at large’ – eg tourism marketing and promotion, aviation, administration, security services, resort area security services, resort
area sanitation services, etc;
2 | WORLD TRAVEL & TOURISM COUNCIL

ARGENTINA: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO GDP
ARGENTINA:TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO GDP
1
TRAVEL & TOURISM'S CONTRIBUTION
TO GDP1
The direct contribution of Travel & Tourism to GDP in 2017 was ARS381.8bn (3.7% of GDP). This is forecast to rise by 3.5% to ARS395.0bn in 2018.
This primarily reflects the economic activity generated by industries such as hotels, travel agents, airlines and other passenger transportation
The direct contribution of Travel & Tourism to GDP is expected to grow by 2.5% pa to ARS504.1bn (3.7% of GDP) by 2028.
0
100
200
300
400
500
600
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
20282028
CONSTANT 2017 ARSBN % OF WHOLE ECONOMY GDP
0.0
1.0
2.0
3.0
4.0
5.0
6.0
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
20282028
page 2) was ARS1,055.8bn in 2017 (10.3% of GDP) and is expected to grow by 4.3% to ARS1,100.8bn (10.3% of GDP) in 2018.
It is forecast to rise by 2.4% pa to ARS1,393.8bn by 2028 (10.1% of GDP).
CONSTANT 2017 ARSBN
Direct Indirect Induced
0
200
400
600
800
1,000
1,200
1,400
1,600
2017 2018 202820282028
0.0
2.0
4.0
6.0
8.0
10.0
12.0
2017 2018 20282028
The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and induced income impacts, see
% OF WHOLE ECONOMY GDP
services (excluding commuter services). But it also includes, for example, the activities of the restaurant and leisure industries directly supported by
tourists.

ARGENTINA: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT
ARGENTINA:TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT
Travel & Tourism generated 644,000 jobs directly in 2017 (3.5% of total employment) and this is forecast to grow by 3.2% in 2018 to 664,500
(excluding commuter services). It also includes, for example, the activities of the restaurant and leisure industries directly supported by tourists.
By 2028, Travel & Tourism will account for 771,000 jobs directly, an increase of 1.5% pa over the next ten years.
0.0
100.0
200.0
300.0
400.0
500.0
600.0
700.0
800.0
900.0
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2028
'000 JOBS % OF WHOLE ECONOMY EMPLOYMENT
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2028
The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply chain and induced
By 2028, Travel & Tourism is forecast to support 2,125,000 jobs (10.1% of total employment), an increase of 1.3% pa over the period.
'000 JOBS
0.0
500.0
1,000.0
1,500.0
2,000.0
2,500.0
2017 2018 2028
2028
0.0
2.0
4.0
6.0
8.0
10.0
12.0
2017 2018 20282028
income impacts, see page 2) was 1,809,000 jobs in 2017 (9.8% of total employment). This is forecast to rise by 3.7% in 2018 to 1,875,500 jobs
(9.9% of total employment).
2028
2028
TRAVEL & TOURISM'S CONTRIBUTION
TO EMPLOYMENT
% OF WHOLE ECONOMY EMPLOYMENT
(3.5% of total employment). This includes employment by hotels, travel agents, airlines and other passenger transportation services

VISITOR EXPORTS
ARGENTINA:VISITOR EXPORTS AND INTERNATIONAL TOURIST ARRIVALS
INVESTMENT
ARGENTINA:CAPITAL INVESTMENT IN TRAVEL & TOURISM
1
FOREIGN VISITOR EXPORTS (LHS)
VISITOR EXPORTS AND INVESTMENT1
Visitor exports are a key component of the direct contribution of Travel & Tourism. In 2017, Argentina generated
ARS90.3bn in visitor exports. In 2018, this is expected to grow by 6.8%, and the country is expected to attract 6,066,000 international tourist
arrivals.
By 2028, international tourist arrivals are forecast to total 12,716,000, generating expenditure of ARS163.8bn, an increase of 5.4% pa.
CONSTANT 2017 ARSBN FOREIGN VISITOR EXPORTS AS % OF TOTAL EXPORTS
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
20282028
Travel & Tourism is expected to have attracted capital investment of ARS119.3bn in 2017. This is expected to rise by 10.2% in 2018, and rise by
2.2% pa over the next ten years to ARS163.0bn in 2028.
Travel & Tourism’s share of total national investment will fall from 7.6% in 2018 to 7.0% in 2028.
CONSTANT 2017 ARSBN
0
20
40
60
80
100
120
140
160
180
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
20282028
0.0
2.0
4.0
6.0
8.0
10.0
12.0
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
20282028
% OF WHOLE ECONOMY INVESTMENT
mn
FOREIGN TOURIST ARRIVALS (RHS)
0
2
4
6
8
10
12
14
0
20
40
60
80
100
120
140
160
180
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
20282028

Direct
Induced
Indirect
Indirect is the
27.3%
10.2%
3.9%
1
Leisure
spending
69.7%
Business
spending
30.3%
Foreign visitor
spending
13.1%
Domestic
spending
86.9%
36.2%
22.4%
collective
41.4%
sum of:
(a) Supply chain
(b) Investment
(c) Government
DIFFERENT COMPONENTS OF
TRAVEL & TOURISM1
ARGENTINA
TRAVEL & TOURISM'S CONTRIBUTION TO GDP:
BUSINESS VS LEISURE, 2017 Leisure travel spending (inbound and domestic)
generated 69.7% of direct Travel & Tourism GDP in
2017 (ARS481.7bn) compared with 30.3% for business
travel spending (ARS209.2bn).
Business travel spending is expected to grow by 1.8%
in 2018 to ARS213.0bn, and rise by 2.0% pa to
ARS260.2bn in 2028.
Leisure travel spending is expected to grow by 4.3% in
2018 to ARS502.6bn, and rise by 2.7% pa to
ARS654.2bn in 2028.
ARGENTINA
DOMESTIC VS FOREIGN, 2017
TRAVEL & TOURISM'S CONTRIBUTION TO GDP:
Domestic travel spending generated 86.9% of direct
Travel & Tourism GDP in 2017 compared with 13.1% for
visitor exports (ie foreign visitor spending or
international tourism receipts).
Domestic travel spending is expected to grow by 3.1%
in 2018 to ARS619.0bn, and rise by 1.9% pa to
ARS750.6bn in 2028.
Visitor exports are expected to grow by 6.8% in 2018
to ARS96.5bn, and rise by 5.4% pa to ARS163.8bn in
2028.
a
bc
ARGENTINA
BREAKDOWN OF TRAVEL & TOURISM'S
The Travel & Tourism industry contributes to GDP
and employment in many ways as detailed on page 2.
The total contribution of Travel & Tourism to GDP
is nearly three times greater than its direct
contribution.
TOTAL CONTRIBUTION TO GDP, 2017

2017 2017
(US$bn) (US$bn)
9 Mexico 82.2 10 Mexico 185.4
11 Brazil 59.6 11 Brazil 163.0
20 Argentina 23.0 20 Argentina 63.6
World Average 21.5 World Average 62.9
42 Chile 9.2 37 Chile 28.4
45 Peru 8.1 46 Peru 20.8
Latin America Average 6.7 Latin America Average 18.4
67 Costa Rica 2.9 63 Cuba 9.7
71 Venezuela 2.7 68 Venezuela 7.8
75 Cuba 2.3 70 Costa Rica 7.5
76 Ecuador 2.2 78 Guatemala 6.1
79 Guatemala 2.2 84 Ecuador 5.4
2017 2017
'000 jobs '000 jobs
5 Mexico 3913.4 5 Mexico 8569.4
9 Brazil 2337.0 7 Brazil 6591.3
World Average 937.5 World Average 2341.0
42 Peru 400.2 33 Peru 1294.2
Latin America Average 300.6 44 Chile 835.5
50 Chile 283.5 Latin America Average 830.4
73 Guatemala 165.8 66 Cuba 513.1
75 Ecuador 156.2 70 Guatemala 464.1
82 Cuba 123.6 79 Ecuador 363.1
93 Costa Rica 104.3 96 Costa Rica 254.3
2017 2017
(US$bn) (US$bn)
11 Brazil 19.7 16 Mexico 22.4
15 Mexico 12.2 World Average 8.1
21 Argentina 7.2 52 Brazil 6.0
27 Chile 6.2 53 Argentina 5.4
World Average 4.8 55 Chile 4.8
Latin America Average 2.4 59 Peru 4.5
50 Peru 2.2 63 Costa Rica 3.9
55 Cuba 1.8 66 Cuba 3.2
65 Ecuador 1.2 Latin America Average 2.6
70 Venezuela 0.9 80 Ecuador 2.1
72 Guatemala 0.8 93 Guatemala 1.6
92 Costa Rica 0.4 131 Venezuela 0.5
TRAVEL & TOURISM'S DIRECT TRAVEL & TOURISM'S TOTAL
CONTRIBUTION TO GDP CONTRIBUTION TO GDP
The competing destinations selected are those that offer a similar tourism product and compete for tourists from the same set of origin markets.
These tend to be, but are not exclusively, geographical neighbours.
CONTRIBUTION TO EMPLOYMENT CONTRIBUTION TO EMPLOYMENT
TRAVEL & TOURISM INVESTMENT VISITOR EXPORTS
The tables on pages 7-10 provide provide brief extracts from the full WTTC Country League Table Rankings, highlighting comparisons with
COUNTRY RANKINGS:
ABSOLUTE CONTRIBUTION,2017
competing destinations as well as with the world and regional average. Averages in above tables are simple cross-country averages.

2017 2017
% share % share
83 Peru 3.8 80 Cuba 10.7
88 Argentina 3.7 84 Chile 10.4
97 Chile 3.4 World 10.4
World 3.2 87 Argentina 10.3
Latin America 3.1 91 Peru 9.8
115 Guatemala 2.9 Latin America 8.6
118 Brazil 2.9 115 Guatemala 8.0
131 Venezuela 2.6 117 Brazil 7.9
134 Cuba 2.5 124 Venezuela 7.4
148 Ecuador 2.2 156 Ecuador 5.4
2017 2017
% share % share
World 3.8 82 Chile 10.2
98 Argentina 3.5 World 9.9
99 Chile 3.4 86 Cuba 9.9
Latin America 2.8 87 Argentina 9.8
123 Brazil 2.6 111 Peru 8.0
130 Peru 2.5 122 Brazil 7.3
134 Cuba 2.4 123 Guatemala 7.2
2017 2017
% share % share
15 Cuba 21.6 47 Cuba 27.1
48 Chile 10.5 61 Costa Rica 20.3
59 Guatemala 8.3 82 Ecuador 10.6
68 Argentina 7.5 90 Guatemala 9.5
Latin America 6.2 92 Peru 9.2
85 Brazil 6.1 104 Argentina 7.6
87 Venezuela 5.9 Latin America 7.2
97 Ecuador 4.9 World 6.5
100 Peru 4.8 119 Chile 6.2
World 4.5 162 Venezuela 2.8
119 Costa Rica 4.0 167 Brazil 2.3
TRAVEL & TOURISM CONTRIBUTION VISITOR EXPORTS
TO TOTAL CAPITAL INVESTMENT CONTRIBUTION TO EXPORTS
COUNTRY RANKINGS:
RELATIVE CONTRIBUTION, 2017

2018 2018
% growth % growth
65 Cuba 4.9 66 Peru 4.7
71 Peru 4.5 80 Argentina 4.3
81 Chile 4.2 82 Chile 4.2
World 4.0 World 4.0
103 Argentina 3.5 97 Cuba 3.8
Latin America 3.4 Latin America 3.4
133 Brazil 2.7 137 Ecuador 2.7
143 Ecuador 2.4 144 Brazil 2.5
2018 2018
% growth % growth
30 Costa Rica 4.6 32 Guatemala 4.2
31 Guatemala 4.5 33 Costa Rica 4.1
52 Peru 3.5 49 Argentina 3.7
60 Mexico 3.2 51 Peru 3.6
62 Argentina 3.2 72 Ecuador 3.1
71 Ecuador 2.9 World 3.0
72 Cuba 2.9 86 Mexico 2.6
World 2.4 93 Cuba 2.4
131 Chile 1.2 119 Venezuela 1.4
152 Venezuela 0 135 Chile 1
2018 2018
% growth % growth
2 Argentina 10.2 4 Brazil 10.6
50 Peru 6.3 13 Venezuela 8.8
52 Costa Rica 6.2 16 Guatemala 8.5
World 4.8 19 Cuba 8.0
89 Chile 4.5 33 Costa Rica 6.9
Latin America 4.5 35 Argentina 6.8
123 Ecuador 3.6 Latin America 6.1
147 Cuba 2.9 78 Peru 4.7
152 Brazil 2.6 79 Chile 4.7
158 Guatemala 1.9 World 3.9
184 Venezuela -6.37 123 Ecuador 3.1
TRAVEL & TOURISM INVESTMENT VISITOR EXPORTS
COUNTRY RANKINGS:
REAL GROWTH, 2018

2018 - 2028 2018 - 2028
% growth pa % growth pa
65 Peru 4.7 73 Peru 4.5
78 Costa Rica 4.4 83 Ecuador 4.3
85 Ecuador 4.2 84 Costa Rica 4.3
97 Cuba 4.1 89 Cuba 4.2
108 Venezuela 3.8 99 Guatemala 4.0
109 Guatemala 3.8 World 3.8
World 3.8 127 Venezuela 3.4
Latin America 3.2 133 Chile 3.2
138 Chile 3.1 Latin America 3.2
2018 - 2028 2018 - 2028
61 Peru 2.8 68 Peru 2.6
93 Mexico 2.3 World 2.5
World 2.2 76 Mexico 2.4
157 Chile 1.2 157 Chile 1.1
178 Cuba 0.7 175 Cuba 0.5
2018 - 2028 2018 - 2028
11 Costa Rica 6.5 8 Peru 6.6
37 Mexico 5.5 14 Brazil 6.4
44 Brazil 5.3 40 Venezuela 5.5
58 Cuba 4.8 45 Mexico 5.4
77 Ecuador 4.4 46 Argentina 5.4
86 Peru 4.3 56 Guatemala 5.2
World 4.3 62 Ecuador 5.0
Latin America 4.1 64 Costa Rica 5.0
130 Chile 3.1 80 Cuba 4.7
142 Venezuela 2.9 107 Chile 4.2
162 Argentina 2.2 World 4.1
TRAVEL & TOURISM CONTRIBUTION VISITOR EXPORTS
TO TOTAL CAPITAL INVESTMENT CONTRIBUTION TO TOTAL EXPORTS
COUNTRY RANKINGS:
LONG TERM GROWTH, 2018 - 2028

2018
ARGENTINA USDbn % of total Growth2
% of total Growth
3
Direct contribution to GDP 23.0 3.7 3.5 30.4 3.7 2.5
Total contribution to GDP 63.6 10.3 4.3 84.0 10.1 2.4
Direct contribution to employment4
644 3.5 3.2 771 3.7 1.5
Total contribution to employment
4
1,809 9.8 3.7 2,125 10.1 1.3
Visitor exports 5.4 7.6 6.8 9.9 9.0 5.4
Domestic spending 36.2 5.8 3.1 45.2 5.5 1.9
Leisure spending 29.0 2.6 4.3 39.4 2.6 2.7
Business spending 12.6 1.1 1.8 15.7 1.0 2.0
Capital investment 7.2 7.5 10.2 9.8 7.0 2.2
1
2017constant prices & exchange rates; 2
2018 real growth adjusted for inflation (%); 3
2018-2028 annualised real growth adjusted for inflation (%); 4
'000 jobs
LATIN AMERICA USDbn % of total Growth2
% of total Growth3
Direct contribution to GDP 127.4 3.1 3.4 179.7 3.3 3.2
Total contribution to GDP 348.7 8.6 3.4 492.1 9.1 3.2
5,712 2.8 2.5 7,234 3.0 2.1
4
15,778 7.6 2.4 19,646 8.3 2.0
Visitor exports 49.3 7.2 6.1 87.3 9.0 5.3
Domestic spending 188.7 4.6 2.7 249.9 4.6 2.6
Leisure spending 195.5 2.5 3.3 276.6 2.7 3.2
Business spending 42.4 0.6 3.8 60.5 0.6 3.2
Capital investment 45.1 6.2 4.5 70.5 6.5 4.1
1
'000 jobs
WORLDWIDE USDbn % of total Growth2
% of total Growth3
Direct contribution to GDP 2,570.1 3.2 4.0 3,890.0 3.6 3.8
Total contribution to GDP 8,272.3 10.4 4.0 12,450.1 11.7 3.8
118,454 3.8 2.4 150,139 4.2 2.2
4
313,221 9.9 3.0 413,556 11.6 2.5
Visitor exports 1,494.2 6.5 3.9 2,311.4 6.9 4.1
Domestic spending 3,970.5 5.0 4.1 6,051.5 5.8 3.9
Leisure spending 4,233.3 2.5 4.1 6,605.3 2.8 4.1
Business spending 1,230.6 0.7 3.8 1,756.1 0.8 3.2
Capital investment 882.4 4.5 4.8 1,408.3 5.1 4.3
1
'000 jobs
2017 2017 2028
USDbn
2017 2017 2018 2028
USDbn
2017 2017 2018 2028
USDbn
% of total refers to each indicator's share of the relevant whole economy indicator such as GDP and employment. Visitor exports is shown relative to total exports of goods and services.
SUMMARY TABLES:
ESTIMATES & FORECASTS
1
1
1
1
1
1
Domestic spending is expressed relative to whole economy GDP. For leisure and business spending, their direct contribution to Travel & Tourism GDP is calculated as a share of
whole economy GDP (the sum of these shares equals the direct contribution). Investment is relative to whole economy investment.
1

2012 2013 2014 2015 2016 2017 2018E 2028F
Domestic expenditure
(includes government individual spending)
3. Internal tourism consumption
(= 1 + 2 )
4. Purchases by tourism providers,
including imported goods
(supply chain)
5. Direct contribution of
Travel & Tourism to GDP
(= 3 + 4)
Other final impacts
(indirect & induced)
6 Domestic supply chain
11. Total contribution of
(= 5 + 6 + 7 + 8 + 9 + 10)
Employment impacts ('000)
12.
Other indicators
14. Expenditure on outbound travel
ARGENTINA
(ARSbn, real 2017 prices)
1. Visitor exports 97.6 86.8 99.5 87.7 95.1 90.3 96.5 163.8
2. 606.8 606.9 557.5 543.0 570.0 600.6 619.0 750.6
704.4 693.7 657.0 630.7 665.1 690.9 715.5 914.4
-314.7 -311.0 -294.1 -282.6 -297.7 -309.1 -320.5 -410.3
389.7 382.7 362.9 348.1 367.4 381.8 395.0 504.1
297.4 292.1 277.0 265.7 280.5 291.5 301.5 384.8
7. Capital investment 118.1 115.5 110.4 113.8 109.2 119.3 131.5 163.0
8. Government collective spending 35.7 37.0 36.5 40.9 40.0 41.9 42.7 52.3
9.
Imported goods from indirect
spending
-15.3 -11.9 -14.4 -14.3 -14.5 -15.6 -16.8 -21.3
10. Induced 238.2 234.5 223.1 222.2 227.3 236.9 246.8 310.8
1,063.8 1,049.9 995.4 976.4 1,009.8 1,055.8 1,100.8 1,393.8
667.2 650.3 616.6 593.2 625.5 644.0 664.3 770.9Direct contribution of Travel &
Tourism to employment
13.
Total contribution of Travel &
1,798.7 1,757.3 1,669.4 1,635.3 1,703.3 1,808.8 1,875.7 2,124.8
143.3 138.4 135.7 148.1 211.0 228.6 227.4 313.6
THE ECONOMIC CONTRIBUTION OF
TRAVEL & TOURISM: REAL 2017 PRICES

2012 2013 2014 2015 2016 2017 2018E 2028F
(= 1 + 2 )
(supply chain)
(= 3 + 4)
Other final impacts
6. Domestic supply chain
(= 5 + 6 + 7 + 8 + 9 + 10)
12.
Other indicators
Historical data for concepts has been benchmarked to match reported TSA data where available.
ARGENTINA
(ARSbn, nominal prices)
1. Visitor exports 25.8 28.4 45.8 50.2 76.6 90.3 114.3 371.0
2. 160.2 198.9 256.3 311.1 459.1 600.6 733.4 1699.8
186.0 227.3 302.1 361.3 535.7 690.9 847.7 2070.8
-83.1 -101.9 -135.2 -161.9 -239.8 -309.1 -379.7 -929.1
102.9 125.4 166.8 199.4 295.9 381.8 468.0 1,141.6
78.5 95.7 127.3 152.2 225.9 291.5 357.3 871.4
7. Capital investment 31.2 37.9 50.7 65.2 88.0 119.3 155.8 369.2
8. Government collective spending 9.4 12.1 16.8 23.4 32.2 41.9 50.6 118.5
9.
spending
-4.0 -3.9 -6.6 -8.2 -11.7 -15.6 -19.9 -48.2
10. Induced 62.9 76.8 102.6 127.3 703.9
280.9 344.0 457.6 559.5 813.3 1,055.8
625.5 644.0 664.3
183.1 236.9 292.5
1,635.3 1,703.3 1,808.8
1,304.2 3,156.5
667.2 650.3 616.6 593.2
228.6 269.4 710.2
770.9Direct contribution of Travel &
13.
1,798.7 1,757.3 1,669.4
*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended Methodological
Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Office of the European Communities (EUROSTAT),
the Organisation for Economic Co-operation and Development (OECD) and the World Tourism Organization (UNWTO).
1,875.7 2,124.8
37.8 45.3 62.4 84.9 170.0
TRAVEL & TOURISM: NOMINAL PRICES

2012 2013 2014 2015 2016 2017 2018E 2028F
(= 1 + 2 )
(supply chain)
(= 3 + 4)
Other final impacts
6. Domestic supply chain
(= 5 + 6 + 7 + 8 + 9 + 10)
12.
Other indicators
ARGENTINA
Growth1
(%)
1. Visitor exports -15.7 -11.1 14.7 -11.9 8.4 -5.0 6.8 5.4
2. -4.5 0.0 -8.1 -2.6 5.0 5.4 3.1 1.9
-6.3 -1.5 -5.3 -4.0 5.5 3.9 3.6 2.5
-6.2 -1.2 -5.4 -3.9 5.3 3.8 3.7 2.5
-6.3 -1.8 -5.2 -4.1 5.6 3.9 3.5 2.5
-6.3 -1.8 -5.2 -4.1 5.6 3.9 3.5 2.5
7. Capital investment -9.9 -2.1 -4.5 3.1 -4.0 9.3 10.2 2.2
8. Government collective spending 5.4 3.6 -1.4 12.2 -2.3 4.7 2.0 2.0
9.
spending
-10.3 -21.9 20.4 -0.8 2.0 7.3 7.8 2.4
10. Induced -4.4 -1.5 -4.9 -0.4
-5.9 -1.3 -5.2 -1.9 3.4 4.6
3.0 3.2
2.3 4.2 4.2 2.3
4.2 6.2
4.3 2.4
-3.1 -2.5 -5.2 -3.8 5.4
-0.5 3.3
1.5Direct contribution of Travel &
13.
-3.1 -2.3 -5.0 -2.0
1
2012-2017 real annual growth adjusted for inflation (%); 2
2018-2028 annualised real growth adjusted for inflation (%)
3.7 1.3
0.9 -3.4 -2.0 9.2 42.4 8.3
TRAVEL & TOURISM: GROWTH
2

GLOSSARY
KEY DEFINITIONS
TRAVEL & TOURISM
Relates to the activity of travellers on trips outside their
usual environment with a duration of less than one year.
Economic activity related to all aspects of such trips is
measured within the research.
DIRECT CONTRIBUTION TO GDP
GDP generated by industries that deal directly with
tourists, including hotels, travel agents, airlines and other
passenger transport services, as well as the activities of
restaurant and leisure industries that deal directly with
tourists. It is equivalent to total internal Travel & Tourism
spending (see below) within a country less the purchases
made by those industries (including imports). In terms
of the UN’s Tourism Satellite Account methodology it is
consistent with total GDP calculated in table 6 of the TSA:
RMF 2008.
DIRECT CONTRIBUTION TO EMPLOYMENT
The number of direct jobs within Travel & Tourism. This is
consistent with total employment calculated in table 7 of
the TSA: RMF 2008.
TOTAL CONTRIBUTION TO GDP
GDP generated directly by the Travel & Tourism sector plus
its indirect and induced impacts (see below).
TOTAL CONTRIBUTION TO EMPLOYMENT
The number of jobs generated directly in the Travel
& Tourism sector plus the indirect and induced
contributions (see below).
DIRECT SPENDING IMPACTS
VISITOR EXPORTS
Spending within the country by international tourists
for both business and leisure trips, including spending
on transport, but excluding international spending on
education. This is consistent with total inbound tourism
expenditure in table 1 of the TSA: RMF 2008.
DOMESTIC TRAVEL & TOURISM SPENDING
Spending within a country by that country’s residents for
both business and leisure trips. Multi-use consumer durables
are not included since they are not purchased solely for
tourism purposes. This is consistent with total domestic
tourism expenditure in table 2 of the TSA: RMF 2008.
Outbound spending by residents abroad is not included
here, but is separately identified according to the TSA: RMF
2008 (see below).
GOVERNMENT INDIVIDUAL SPENDING
Spending by government on Travel & Tourism services
directly linked to visitors, such as cultural services (eg
museums) or recreational services (eg national parks).
INTERNAL TOURISM CONSUMPTION
Total revenue generated within a country by industries that deal
directly with tourists including visitor exports, domestic spending
and government individual spending. This does not include
spending abroad by residents. This is consistent with total internal
tourism expenditure in table 4 of the TSA: RMF 2008.
BUSINESS TRAVEL & TOURISM SPENDING
Spending on business travel within a country by residents and
international visitors.
LEISURE TRAVEL & TOURISM SPENDING
Spending on leisure travel within a country by residents and
international visitors.
INDIRECT AND INDUCED IMPACTS
INDIRECT CONTRIBUTION
The contribution to GDP and jobs of the following three factors:
• CAPITAL INVESTMENT: Includes capital investment
spending by all industries directly involved in Travel &
Tourism. This also constitutes investment spending by other
industries on specific tourism assets such as new visitor
accommodation and passenger transport equipment, as
well as restaurants and leisure facilities for specific tourism
use. This is consistent with total tourism gross fixed capital
formation in table 8 of the TSA: RMF 2008.
• GOVERNMENT COLLECTIVE SPENDING: Government
spending in support of general tourism activity. This can
include national as well as regional and local government
spending. For example, it includes tourism promotion, visitor
information services, administrative services and other public
services. This is consistent with total collective tourism
consumption in table 9 of TSA: RMF 2008.
• SUPPLY-CHAIN EFFECTS: Purchases of domestic goods
and services directly by different industries within Travel &
Tourism as inputs to their final tourism output.
INDUCED CONTRIBUTION
The broader contribution to GDP and employment of spending by
those who are directly or indirectly employed by Travel & Tourism.
OTHER INDICATORS
OUTBOUND EXPENDITURE
Spending outside the country by residents on all trips abroad.
This is fully aligned with total outbound tourism expenditure in
table 3 of the TSA: RMF 2008.
FOREIGN VISITOR ARRIVALS
The number of arrivals of foreign visitors, including same-day and
overnight visitors (tourists) to the country.

METHODOLOGICAL NOTE
WTTC has an on-going commitment to align its economic impact research with the UN Statistics Division-approved 2008 Tourism Satellite
Account: Recommended Methodological Framework (TSA:RMF 2008). This involves the benchmarking of country reports to official,
published TSAs, including for countries which are reporting data for the first time, as well as existing countries reporting an additional
year’s data. New country TSAs incorporated this year include Bulgaria, Hungary, Portugal and Vietnam, bringing our total of countries in our
benchmarking dataset to 58. Furthermore, we have sourced updated TSAs for 26 countries.
WTTC coverage includes data on 185 countries and reports on 25 other regions, sub-regions and economic and geographic groups. This
year, there are 10 reports for special economic and geographic groups.
ECONOMIC AND GEOGRAPHIC GROUPS
APEC (ASIA-PACIFIC ECONOMIC COOPERATION)
Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan,
South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea,
Peru, Philippines, Russian Federation, Singapore, Taiwan, Thailand,
USA, Vietnam.
FORMER NETHERLANDS ANTILLES
Bonaire, Curacao, Sint Maarten, Saba and Sint Eustatius.
G20
Argentina, Australia, Brazil, Canada, China, European Union,
France*, Germany*, India, Indonesia, Italy*, Japan, Mexico, Russian
Federation, Saudi Arabia, South Africa, South Korea, Turkey, UK*,
USA.
GCC (GULF COOPERATION COUNCIL)
Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE.
OAS (ORGANIZATION OF AMERICAN STATES)
Argentina, Antigua and Barbuda, Bahamas, Barbados, Belize, Bolivia,
Brazil, Canada, Chile, Colombia, Costa Rica, Cuba, Dominican
Republic, Dominica, Ecuador, El Salvador, Grenada, Guatemala,
Guyana, Haiti, Honduras, Jamaica, Mexico, St Kitts and Nevis,
Nicaragua, Panama, Paraguay, Peru, St Lucia, St Vincent and the
Grenadines, Suriname, Trinidad and Tobago, USA, Uruguay.
OECD (ORGANISATION FOR ECONOMIC CO-OPERATION AND
DEVELOPMENT)
Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark,
Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland,
Israel, Italy, Japan, South Korea, Luxembourg, Mexico, Netherlands,
New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia,
Spain, Sweden, Switzerland, Turkey, UK, USA.
(OIC) ORGANISATION FOR ISLAMIC COOPERATION**
Albania, Algeria, Azerbaijan, Bahrain, Bangladesh, Benin, Brunei
Darussalam, Burkina Faso, Cameroon, Chad, Comoros, Egypt,
Gabon, Gambia, Guinea, Guyana, Indonesia, Iran, Iraq, Ivory
Coast, Jordan, Kazakhstan, Kuwait, Kyrgyzstan, Lebanon, Libya,
Malaysia, Maldives, Mali, Morocco, Mozambique, Niger, Nigeria,
Oman, Pakistan, Qatar, Saudi Arabia, Senegal, Sierra Leone, Sudan,
Suriname, Syria, Tajikistan, Togo, Tunisia, Turkey, UAE, Uganda,
Uzbekistan, Yemen.
OTHER OCEANIA
American Samoa, Cook Islands, French Polynesia, Guam, Marshall
Islands, Micronesia (Federated States of), New Caledonia, Niue,
Northern Mariana Islands, Palau, Samoa, Tuvalu.
PACIFIC ALLIANCE
Chile, Colombia, Mexico, Peru.
SADC (SOUTHERN AFRICAN DEVELOPMENT COMMUNITY)
Angola, Botswana, Democratic Republic of Congo (DRC), Lesotho,
Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles,
South Africa, Swaziland, Tanzania, Zambia, Zimbabwe.
* included in European Union
** no data for Afghanistan, Djibouti, Guinea-Bissau, Mauritania, Palestine, Somalia or Turkmenistan

ECONOMIC IMPACT REPORTS
REGIONS, SUB REGIONS &COUNTRIES
WORLD
REGION
SUBREGION
COUNTRY
AFRICA
NORTHAFRICA
Algeria
Egypt
Libya
Morocco
Tunisia
SUB-SAHARAN
Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros
Congo
Cote d'Ivoire
Democratic Republic of Congo
Ethiopia
Gabon
Gambia
Ghana
Guinea
Kenya
Lesotho
Madagascar
Malawi
Mali
Mauritius
Mozambique
Namibia
Niger
Nigeria
Reunion
Rwanda
Sao Tome and Principe
Senegal
Seychelles
Sierra Leone
South Africa
Sudan and South Sudan
Swaziland
Tanzania
Togo
Uganda
Zambia
Zimbabwe
REGION
SUBREGION
COUNTRY
ASIA-PACIFIC
NORTHEASTASIA
China
Hong Kong
Japan
South Korea
Macau
Mongolia
Taiwan
CENTRALASIA
Kazakhstan
Kyrgyzstan
Tajikistan
Uzbekistan
OCEANIA
Australia
Fiji
Kiribati
New Zealand
Papua New Guinea
Solomon Islands
Tonga
Vanuatu
Other Oceanic States
SOUTHASIA
Bangladesh
India
Maldives
Nepal
Pakistan
Sri Lanka
SOUTHEASTASIA(ASEAN)
Brunei Darussalam
Cambodia
Indonesia
Laos
Malaysia
Myanmar
Philippines
Singapore
Thailand
Vietnam
EUROPE
EUROPEANUNION
Austria
Belgium
Bulgaria
Croatia
Cyprus
Czech Republic
Denmark
Estonia
Finland
France
Germany
Greece
REGION
SUBREGION
COUNTRY
AMERICAS
CARIBBEAN
Anguilla
Antigua and Barbuda
Aruba
Bahamas
Barbados
Bermuda
British Virgin Islands
Cayman Islands
Cuba
Dominica
Dominican Republic
Former Netherland Antillies
Grenada
Guadeloupe
Haiti
Jamaica
Martinique
Puerto Rico
St Kitts and Nevis
St Lucia
St Vincent and the Grenadines
Trinidad and Tobago
US Virgin Islands
LATINAMERICA
Argentina
Belize
Bolivia
Brazil
Chile
Colombia
Costa Rica
Ecuador
El Salvador
Guatemala
Guyana
Honduras
Nicaragua
Panama
Paraguay
Peru
Suriname
Uruguay
Venezuela
NORTH
AMERICA
Canada
Mexico
USA
REGION
SUB-REGION
COUNTRY
EUROPE
EUROPEANUNION
Hungary
Ireland
Italy
Latvia
Lithuania
Luxembourg
Malta
Netherlands
Poland
Portugal
Romania
Slovakia
Slovenia
Spain
Sweden
UK
OTHEREUROPE
Albania
Armenia
Azerbaijan
Belarus
Bosnia and Herzegovina
Georgia
Iceland
Macedonia
Moldova
Montenegro
Norway
Russian Federation
Serbia
Switzerland
Turkey
Ukraine
MIDDLEEAST
Bahrain
Iran
Iraq
Israel
Jordan
Kuwait
Lebanon
Oman
Qatar
Saudi Arabia
Syria
United Arab Emirates
Yemen

The World Travel & Tourism Council is the global authority on the economic and social contribution of
Travel & Tourism.
WTTC promotes sustainable growth for the Travel & Tourism sector, working with governments and international institutions to create jobs, to
drive exports and to generate prosperity. Council Members are the Chairs, Presidents and Chief Executives of the world’s leading private sector
Travel & Tourism businesses.
Together with Oxford Economics, WTTC produces annual research that shows Travel & Tourism to be one of the world’s largest sectors,
supporting over 307 million jobs and generating 10.4% of global GDP in 2017. Comprehensive reports quantify, compare and forecast the
economic impact of Travel & Tourism on 185 economies around the world. In addition to the individual country reports, WTTC produces a
world report highlighting global trends and 24 further reports that focus on regions, sub-regions and economic and geographic groups.
To download reports or data, please visit www.wttc.org
Assisting WTTC to Provide Tools for Analysis, Benchmarking, Forecasting and Planning.
Oxford Economics is a leader in global forecasting and quantitative analysis. Our worldwide client base comprises more than 1,500 international
corporations, financial institutions, government organisations, and universities. Headquartered in Oxford, with offices around the world, we
employ 300 people, including 200 economists and analysts. Our best-of-class global economic and industry models and analytical tools give us
an unmatched ability to forecast external market trends and assess their economic, social and business impact.
For more information, visit www.oxfordeconomics.com
Contributing data to the WTTC Economic Impact Model
STR is the source for premium hotel data benchmarking, analytics and marketplace insights. STR provides data that is reliable, confidential,
accurate and actionable, and their comprehensive solutions empower clients to strategize and compete within their markets. The company’s
range of products includes data-driven solutions, thorough analytics and unrivalled marketplace insights, all built to fuel business growth and
help clients make better operational and financial decisions. STR maintains a presence in 15 countries and collects data for over 59,000 hotels
across 180 countries.
ForwardKeys analyses more than 17m flight booking transactions a day, drawing data from all the major global air reservation systems and
selected airlines and tour operators. This information is enhanced with further independent data sets, including flight search and official
government statistics, plus data science to paint a picture of who is travelling where and when. ForwardKeys’ analytics are used by traveller-
focussed businesses worldwide to monitor and anticipate traveller arrivals from a particular origin market at a specific time. This analysis
enables parties to anticipate the impact of events, better manage their staffing levels, fine tune supply requirements, adjust and measure the
effectiveness of their marketing efforts and anticipate future market trends.

© World Travel & Tourism Council: Travel & Tourism Economic Impact 2018 - March 2018. All rights reserved.
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