Global tourism feeling effects of financial crisis

Over the past six decades, tourism has experienced continued growth and diversification to become one of the largest and fastest growing economic sectors in the world.

Over time, more and more destinations have opened up and invested in tourism development, turning modern tourism into a key driver for socio-economic progress.

Tourism has become one of the major international trade categories. Today, the export income generated by international tourism ranks fourth after fuels, chemicals and automotive products.

For many developing countries, it is one of the main income sources and the number one export category, creating much needed employment and opportunities for development.