Tourism Outlook

Leads of economists worldwide expect a strong demand growth be forecast to continue for the foreign travel & leisure during this gloomy economic outlook worldwide in 2007-2011. The forecasts are still valid in despite the rising prices for consumption of goods and services, such as oil, gas, electricity, food, goods essential for households, commodities markets, stocks markets speculation as well as the concerns on the climate change crisis.

However, many wholesale in travel and tour operators as well as major property owners and chief executive officers of International branding name Hotel chains stated that all indicators are green. They welcome continued international financial markets support for Hospitality industry longer-term economic development agenda for the labor market skilled of jobs creation sustainable that the opportunities would increase for first-time job-seekers with graded trades diplomas professionals and young people under 35 years-old.

Tourism is a booming sector in these emerging market economies, especially for long-term tourism investment in commercial real estate and construction. They will continue to make the investments increasing into the infrastructure and construction expenses of new luxury hotels complex, golf club resorts, hotel beach resorts & spas in the untapped markets over the next three years, including the strengthening of competitive value-added services focusing on the clientele within economic activities in the tourism sector.

Moreover, the global financial crisis that brings with it a recession announced a global economic crisis will affect the behavior of tourists who could radically change in the allocation of their attractiveness consumer spending for tourism in trips business, family travel and vacation leisure travel if the economic crisis would worsen, outlined Francesco Frangialli, Former Secretary General of the World Tourism Organization (UNWTO). « Le reste de l’économie a subi les contrecoups de la crise du crédit qui s’en est suivie et aujourd’hui, toute la planète en paie le prix »¹. Thus, the financial crisis helping to effect the global economy idles in all sectors of economic activity such as manufacturing, information technology and communication including services.”La crise n’épargne pas le tourisme: selon l’Organisation mondiale du tourisme (OMT), la croissance du tourisme international devrait être de 2% en 2008 et “au mieux, stable en 2009″, assure l’organisme, qui dépend des Nations unies. Si la crise reste sous contrôle, les résultats du secteur ne seront pas bons, mais a priori, il devait se montrer plus résistant que les autres secteurs que sont la finance, l’immobilier ou l’automobile.”². At nearly all the disadvantages of a global economic crisis planned for the next five years (2007-2011), however we get a consolation and hope “quand l’économie repart, le tourisme est toujours l’un des premiers secteurs à rebondir” (Frangialli et al., 2008).

Many experts in foreign travel & leisure have predicted a strong market expansion in the emerging countries from the continents in Africa, in Asia-Pacific, in Latin-America and the Middle East, as these governments stepped-efforts and a great openly court foreign investment to develop their hospitality and tourism sectors. In addition, that those emerging markets will do a massive local investment, as like South Africa, Botswana, China, Brazil, Dubai, Egypt³, Ethiopia, Libya, Peru, Malaysia, Thailand, Turkey, Mexico, India and other emerging economies. They are being upgraded their professional training skills to show their products and their know-how in the market trends of tourism, known as both « destinations tourism and flood of tourists of leisures », in the international tourism industry.