Tourism – a key to development, prosperity and well-being
Over time, an ever-increasing number of destinations have opened up to, and invested in tourism development, turning it into a key driver of socio-economic progress through the creation of jobs and enterprises, export revenues, and infrastructure development.
Over the past six decades, tourism has experienced continued expansion and diversification to become one of the largest and fastest-growing economic sectors in the world.
International tourist arrivals have grown from 25 million globally in 1950 to 1,322 million in 2017, while tourism receipts have grown from US$2billion in 1950 to over US$ 1,250 billion in 2017.
International tourism represents 7% of the world’s exports in goods and services and as a sector has grown faster than world trade for the past five years, many new destinations have emerged and in many developing countries, tourism is the top export category.