Tuesday, August 23, 2016

Global tourism will contribute less to the GDP of France, Brazil and Turkey – Yahoo Finance Spain

BERLIN (Reuters) – Travel and tourism offer lower than anticipated economies of France, Turkey and Brazil in 2016 because contribution attacks and political problems and economic, but in global terms the sector is strong, said Monday the World Authority Travel and Tourism Council (WTTC, for its acronym in English).

Brazil just celebrated the Olympic Games, but its sector travel and tourism has suffered because of a political crisis, the worst recession since the 1930s and outbreak of Zika.

the WTTC expects that the sector’s contribution to Gross Domestic Product (GDP) Brazil fall by 1.6 percent this year from the previous forecast of a decline of 0.9 percent.

in 2015, the direct contribution was 190,500 million reais ($ 59.500 million dollars), equivalent to 3.3 percent of total GDP, according to WTTC.

“There are many surrounding macroeconomic weakness, but the travel industry and tourism it copes well,” he told Reuters the president of the WTTC, David Scowsill.

with regard to Europe, Islamist attacks in Paris, Brussels and Nice have resulted in lower demand for travel to Europe, while in the case of Turkey, attacks and a failed coup have also affected its tourism sector.

in general, the global travel and tourism sector would grow by 3.1 percent in 2016, more than the expected growth of global GDP of 2.3 percent, driven by a growing number of travelers to Asian countries, particularly China and India.

the depreciation of sterling as a result of the vote on United UK to leave the European Union should boost demand for travel to that country in the next six to eight months, which would help offset any reduction in spending on travel by the British, said Scowsill

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