|Saturday, December 31, 2011, 18:00 Hrs [IST]|
Past-Forward: 2011’s highlights & key trends for 2012
Despite adverse global economic fluctuations and natural disasters, international travel grew commendably in 2011 with marginal regional disparities. However, the rate of growth has slowed down towards the last quarter of the year, and going into the new year, there are concerns across all quarters as to whether the industry would be able to sustain the growth because of uncertainties in the global economy. TravelBiz Monitor presents the highlights of 2011 and the key trends for 2012
2011 was a mixed bag of surprises and shocks for the international travel and tourism industry. While the first half of the year witnessed some positive momentum in international travel, the Euro-zone crisis and the Credit crisis in the US cast its shadow on the travel industry in the second half of the year. As if this was not enough, the political crisis in West Asia and North Africa, coupled with the earthquake and tsunami disaster in Japan added to the wounds. However, notwithstanding such crises, international travel grew by a healthy 4.5 per cent in the first eight months of 2011, as compared to the corresponding period in 2010, as per UNWTO statistics, which is quite commendable.
The UNWTO also reports some startling figures in terms of international travel. Despite financial crises in the developed world, especially in the European Union, the region benefited vastly from inbound travel during the first eight months of 2011, registering a growth of around six per cent - equivalent to the overall international inbound growth of Asia.
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