Despite repercussions of the ongoing global credit crunch, Travel&Tourism; leaders revealed that the industry will moderately be impacted and signalled continued growth rates for 2008 at a reduced pace.According to the recent research produced by the World Travel&Tourism; Council (WTTC) and Oxford Economics (OE), Travel&Tourism; entered this recent period on the back of another solid performance in 2007. International tourism arrivals increased in this year by nearly 6 per cent per cent, totalling to nearly 900 million tourists and marking the fourth successive year that arrivals’ growth has exceeded its long-standing trend of 4 per cent (source: UNWTO).Furthermore, the research also indicated that tourism spending per capita has more than matched these increases. International air passenger traffic also rose at a record 9.3 per cent (source: IATA) from year to year in November.Read full article here.
