WTTC predicts bright future for travel and tourism

Travel and tourism is set to grow by 5.1% this year to be worth a massive £189.4b, according to the World Travel and Tourism Council (WTTC) at a briefing in London today.

But the WTTC predicted that after this year's good performance in the sector, annual growth would slow to about 3.3% reaching £321.9b by 2015.

In Europe as a whole, the industry is expected to generate £1,165b this year, growing to £2,095b in 2015, said the WTTC.

Jean-Claude Baumgarten, president of the WTTC, called on British government to recognise the importance of the tourism industry.

He said it had to invest in the UK's infrastructure so it could compete with emerging markets such as China, India and Russia as well as competition from the new Eastern European destinations.

"The UK is the fifth biggest travel and tourism market in the world and is doing fine, but it must look to future to improve the growth performance. It has to be improved as a destination so that it can be part of the new emerging markets and stay as a market leader.

"All growth in developed markets will be slower but new opportunities need to be found and the industry and public sector must realise that there is worldwide competition," he said.

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