Navigation
Suscribe
Menu Search Facebook Twitter
Search Close
Menu ALL SECTIONS
  • Capital Coahuila
  • Capital Hidalgo
  • Capital Jalisco
  • Capital Morelos
  • Capital Oaxaca
  • Capital Puebla
  • Capital Quintana Roo
  • Capital Querétaro
  • Capital Veracruz
  • Capital México
  • Capital Michoacán
  • Capital Mujer
  • Reporte Índigo
  • Estadio Deportes
  • The News
  • Efekto
  • Diario DF
  • Capital Edo. de Méx.
  • Green TV
  • Revista Cambio
Radio Capital
Pirata FM
Capital Máxima
Capital FM
Digital
Prensa
Radio
TV
X
Newsletter
Facebook Twitter
X Welcome! Subscribe to our newsletter and receive news, data, statistical and exclusive promotions for subscribers
Business

Global Travel Spending Still Growing but at a Slower Pace

Travelers aren't going to let isolated terrorist attacks stop them from traveling, according to an official

People gather on a public beach in Bournemouth, England, enjoying the typical English warm weather Thursday Aug. 18, 2016, photo: PA via AP/Andrew Matthews
1 year ago

NEW YORK — Global travel spending is still growing, although at a slower pace, despite weakening economies and fears over terrorism.

The World Travel and Tourism Council, a group backed by travel providers with the mission to promote tourism, said in a report Monday that global travel spending for 2016 is expected to grow by 3.1 percent. That is down from a March forecast of 3.3 percent but still outpacing global economic growth, which the group expects to be 2.3 percent.

Macroeconomic problems have a much bigger impact on travel than terrorist attacks, the group’s president, David Scowsill, said.

“Travelers aren’t going to allow isolated terrorist attacks to put them off traveling,” he said. Tourists worried about safety in France have chosen Spain or Italy instead, for example.

Scowsill said destinations with tourist-specific attacks usually take two years to recover, while other types of attacks lead to a faster resumption of travel.

Other travel groups are also seeing the slowdown in travel spending.

The International Air Transport Association recently noted that while more people are flying, the upward trend “has moderated since January” and the percent of seats occupied has actually slipped slightly.

“The fragile and uncertain economic backdrop, political shocks and a wave of terrorist attacks are all contributing to a softer demand environment,” said the group’s head, Tony Tyler, in a statement.

And back in April, the Global Business Travel Association warned of slowing volume from U.S.- originating business travelers.

Of course, not each part of the world is facing the same growth or problems. The World Travel and Tourism Council breaks down expected 2016 travel spending this way:

— South Asia leads growth at 5.9 percent, driven by strong economic prospects in India.

— Latin America is expected to be the worst performer, with an anticipated decline of 0.9 percent, driven by weakness in Brazil.

— Northeast Asia and Southeast Asia are seen growing at 4.7 percent and 4 percent respectively, stimulated by China growing at 6.3 percent.

— North America matches the global growth rate of 3.1 percent.

— Europe is expected to face challenges and only grow by 2.2 percent.

It’s a different story in the United Kingdom, which recently voted to leave the European Union. Growth there is actually expected to exceed the rest of Europe at 3.6 percent. The travel group expects weaker domestic spending and a 3 percent drop in outbound U.K. trips. However, it expects all of that to be offset by higher spending in the U.K. by international visitors benefiting from greater spending power as a result of the weaker British pound

SCOTT MAYEROWITZ

Comments Whatsapp Twitter Facebook Share
More From The News
Latest News

Democrat Jones wins stunning red-state A ...

5 days ago
Business

Asian stocks mixed ahead of Fed rate ann ...

5 days ago
Entertainment

NFL Network suspends analysts over sexua ...

5 days ago
Business

Minnesota announces restrictions on usin ...

5 days ago
Most Popular

IMF Seeks Contingency Plans for Vulnerab ...

By The News
Business

Taste for Bacon Spurs Investor Feast as ...

By The News
Business

New Option For Mexican Pre-Pay Users

By Caitlin Donohue
Business

Daily Exchange: Dollar Slides Minimally ...

By Notimex
Business

Mitsubishi Expects $1.4 Billion Loss Aft ...

By The Associated Press
Business