reports

UNWTO: Exports from international tourism rise 4% in 2015

Published

8 years ago

May 21, 2016

International tourism receipts in destinations around the world grew by 3.6% in 2015, in line with the 4.4% increase in international arrivals. For the fourth consecutive year, international tourism grew faster than world merchandise trade, raising tourism’s share in world’s exports to 7% in 2015. The total export value from international tourism amounted to US$ 1.4 trillion.

Income generated by international visitors on accommodation, food and drink, entertainment, shopping and other services and goods reached an estimated US$ 1,232 billion (euro 1,110 billion) in 2015, an increase of 3.6% accounting for exchange rate fluctuations and inflation. International tourist arrivals (overnight visitors) increased by 4.4% in 2015, reaching a total of 1,184 million.

Alongside international tourism receipts (the travel item of the balance of payments), international tourism generated US$ 210 billion in exports through international non-resident passenger transport services, bringing the total value of tourism exports up to US$ 1.4 trillion, or US$ 4 billion a day on average.

“Tourism is today a major category of international trade in services,” said UNWTO Secretary-General Taleb Rifai addressing the 60^th Regional Commission for the Americas meeting in Havana, Cuba. “Despite a weak and slow economic recovery, spending on international tourism grew significantly in 2015, proving the sector’s relevance in stimulating economic growth, boosting exports and creating jobs for an increasing number of economies worldwide,” he added.

International tourism represents 7% of total world exports and 30% of services exports. The share of tourism in overall exports of goods and services increased from 6% to 7% in 2015 as for the fourth consecutive year international tourism outgrew world merchandise trade, which grew 2.8% in 2015 according to recent data reported by the World Trade Organization.

As a worldwide export category, tourism ranks third after fuels and chemicals and ahead of food and automotive products. In many developing countries, tourism ranks as the first export sector.

Unusually strong exchange rate fluctuations in 2015 seriously influenced receipts for individual destinations and regions, expressed in current US dollars. Taking into account exchange rate fluctuations and inflation, receipts in the Americas, Asia and the Pacific and the Middle East all grew by 4%, while in Europe they grew by 3% and in Africa by 2%.

The Caribbean, Central and South America show strong growth in international tourism receipts

The Americas continued to enjoy robust results both in international arrivals and receipts in 2015, with a strong US dollar fuelling outbound travel from the United States and benefiting many destinations across the region. The Caribbean, Central America and South America all recorded 7% growth in receipts, while North America saw a 3% increase.

“As prices of raw materials have decreased, tourism has shown a strong capacity to compensate for weaker export revenue in many commodity- and oil-exporting countries,” said Mr. Rifai. “Tourism is increasingly an essential component of export diversification for many emerging economies as well as several advanced ones,” he added.

The United States, China, Spain and France remain the world’s top tourism destinations

The United States (US$ 178 billion), China (US$ 114 billion), Spain (US$ 57 billion) and France (US$ 46 billion) continue to be the top destinations both in international tourism receipts and tourist arrivals.

The above data is preliminary and subject to revision. 2015 has shown some unusual strong appreciation of the US dollar to many currencies, rendering receipts earned in these currencies lower in US dollar. Furthermore, China revised both its international tourism receipts and expenditure series substantially in 2015 and retrospectively for 2014 due to methodological changes.

A few leading source markets drive outbound tourism in 2015

China, the United States and the United Kingdom led outbound tourism last year, fuelled by their strong currencies and economies.

China continues to lead global outbound travel after double-digit growth in tourism expenditure every year since 2004, benefitting Asian destinations such as Japan and Thailand as well as the United States and various European destinations. Spending by Chinese travellers increased 25% in 2015 to reach US$ 292 billion, as total outbound travellers rose 10% to 128 million.

Tourism expenditure from the world’s second largest source market, the United States, increased by 9% in 2015 to US$ 120 billion, while the number of outbound travellers grew by 8% to 73 million. Expenditure from the United Kingdom, the fourth largest market globally, increased 8% to US$ 63 billion with 65 million of its residents travelling abroad, up 9%. By contrast Germany, the world’s third largest market, reported a small decline in spending (US$ 76 billion), partly due to the weaker euro.

France’s expenditure on outbound tourism reached US$ 38 billion, Russia’s US$ 35 billion and that of the Republic of Korea a total of US$ 25 billion.

Love

Maldives among top choices for babymoon romance

Published

3 days ago

April 15, 2024

Maldives Insider

Maldives has soared into the top 5 most popular babymoon destinations according to a new study by My 1st Years.

Babymoons, pre-baby getaways for expecting parents, have seen a surge in popularity in recent years. The UK alone has witnessed a staggering 128% increase in searches for “best babymoon destinations” in just the past three months.

To understand expectant parents’ travel dreams, My 1st Years analyzed Google search data for hundreds of destinations worldwide. The Maldives secured the coveted fourth place, surpassing Italy, Australia, and Portugal.

This tropical paradise offers the perfect escape for parents-to-be seeking relaxation and rejuvenation before welcoming their new arrival. Imagine soaking up the sun on pristine beaches, swimming in crystal-clear waters, or indulging in pampering spa treatments – pure bliss!

For expectant couples seeking a luxurious and unforgettable babymoon experience, the Maldives offers a truly idyllic setting.

News

Maldives tourism poised for strong growth in 2024, with 2 million visitors expected

Published

4 months ago

December 17, 2023

Maldives Insider

Maldives is setting its sights on welcoming a record-breaking 2.01 million tourists in 2024, a 7.9% increase compared to anticipated arrivals this year. This optimistic forecast, released by the Maldives Association of Travel Agents and Tour Operators (MATATO), paints a vibrant picture of tourism industry thriving next year.

Several key factors are driving this projected surge:

The Resurgent Chinese Market: With borders reopening and travel restrictions easing, Chinese tourists are expected to flock back to the Maldives in droves, injecting significant energy into the sector.
New Tourist Delights: The Maldives is steadily expanding its offerings, with new resorts, attractions, and experiences emerging to cater to a wider range of visitors.
Smoother Skies Ahead: The completion of the Velana International Airport’s new terminal will boost capacity, making it easier for more tourists to reach the paradise islands.
Luxury’s Enduring Allure: The Maldives’ reputation as a premier luxury destination remains undimmed, attracting high-spending travelers seeking unforgettable experiences.
Weddings and Honeymoons in Paradise: The Maldives’ romantic charm is drawing ever-increasing numbers of couples seeking picture-perfect wedding and honeymoon destinations.

Looking geographically, Asia is expected to dominate the tourist influx, accounting for 60% of arrivals. Europe, America, and other regions are also projected to contribute significantly, highlighting the Maldives’ diverse appeal.

MATATO’s forecast is based on a meticulous analysis of data from various sources, including past tourism trends, industry forecasts, consumer sentiment surveys, and even cutting-edge AI technology.

MATATO acknowledges potential risks that could affect the rosy outlook. A global economic downturn, rising travel costs, and political instability are factors to be monitored closely.

With its stunning natural beauty, luxurious offerings, and strategic initiatives, the islands are poised to welcome a record number of visitors, reaffirming its status as a dream destination for discerning travelers.

News

Maldives ranks 4th among world’s most popular “old money” destinations

Published

10 months ago

June 21, 2023

Ibrahim Mahudhee

The Maldives has secured its place among the most sought-after “old money” destinations in the world, ranking an impressive fourth in a recent analysis conducted by SlotTracker.com. With over 12 million Instagram hashtags (12,777,931), the Maldives has emerged as a paradise for those seeking a luxurious and refined getaway.

Renowned for its exclusive resorts, pristine beaches, and private water villas, the Maldives offers an ideal setting for indulging in opulence and tranquillity. The timeless natural beauty of the archipelago, coupled with high-end accommodations and a variety of water-based activities, further adds to its allure, attracting discerning travelers in search of sophistication.

The concept of “old money” or “quiet luxury” has gained significant attention in recent times, with TikTok’s latest trend garnering over 2.5 billion views for the hashtag #oldmoneyaesthetic. This trend embodies a sense of understated elegance, free from overt displays of wealth, and draws inspiration from the refined style of celebrities like Sophia Richie and the hit TV show “Succession.”

Driven by curiosity about this trend, SlotTracker.com conducted a thorough analysis of more than 400 million Instagram hashtags to identify the destinations that epitomize refinement and elegance. From enchanting European cities to exotic havens in the Caribbean, their findings unveiled the most popular “old money” destinations worldwide, captivating travelers with unparalleled experiences of luxury and exclusivity.

The Maldives’ fourth-place ranking showcases the destination’s enduring appeal and its ability to deliver a quintessential “old money” experience. The abundance of Instagram hashtags dedicated to the Maldives indicates its popularity among influencers and travelers seeking to showcase their elegant retreats and experiences in this tropical paradise.

With its breathtaking turquoise waters, pristine white sand beaches, and idyllic private villas perched above the ocean, the Maldives offers an escape from the hustle and bustle of everyday life. The luxurious resorts scattered across the archipelago cater to the most discerning guests, providing personalized services, gourmet dining, and world-class amenities.

Whether it’s indulging in a rejuvenating spa treatment, embarking on a romantic sunset cruise, or exploring the vibrant marine life through snorkeling or diving, the Maldives offers a range of activities that complement the serenity and sophistication of the destination.

As the Maldives continues to attract global attention as a premier “old money” destination, the local tourism industry is poised to benefit from the discerning travelers seeking luxurious experiences. The Maldivian government and tourism authorities can leverage this recognition to further enhance the destination’s offerings, promoting sustainable luxury tourism that preserves the natural beauty and cultural heritage of the islands.

The fourth-place ranking among the world’s most popular “old money” destinations reinforces the Maldives’ position as a leading luxury travel hotspot. Travelers from around the globe are enticed by the Maldives’ timeless charm, and the destination’s commitment to providing an extraordinary blend of tranquillity, sophistication, and exclusivity continues to set it apart in the world of luxury travel.