Davos Index: The global travel sector is still sluggish

The world travel and tourism sector was badly affected by the Covid-19 pandemic over the past two years, although there was a comeback, it was slow and unpredictable, according to the Travel and Tourism Index published by the World Economic Forum. in Davos, and according to the index, no The number of international tourist arrivals in January 2022 is still 67 percent lower than the 2019 figures, and the index is a biennial study of the travel and tourism sector measuring 117 countries in 17 basic pillars for the development and sustainability of the travel and tourism industry, and the latest publication highlights the importance of Travel and Tourism Recovery for global economies in the wake of the Covid-19 pandemic.

10 states

The results of the travel and tourism index relatively reinforce the difficult situation facing the sector and on average, the index points published by the forum increased by 0.1 percent between 2019 and 2021, with only 39 economies out of 117 economies included in the index improving by more than 1 percent and 51 or more A decline within the 1% range, 27 a decline of more than 1%, and in addition to the United States being in second place, the 10 countries with the highest scores are the economies with high incomes in Europe, Eurasia or the Asia-Pacific regions, with Japan at the top of the list.In the ranking, some regional economies like Australia and Singapore came in seventh and ninth, respectively.

Meanwhile, Italy joined the top 10 (from 12 in 2019) in 2021, while Canada fell (from 10 to 13), and the remaining 10 performers in the index are Spain (3), France (4), Germany (5). ), Switzerland (6) and the United Kingdom (8), Vietnam saw the largest improvement in the score (+4.7 percent, from 60 to 52) in the overall index, while Indonesia (+3.4 percent, from position 44 in the ranking 32 ), and Saudi Arabia advanced (+2.3 percent, from 43 to 33), which is the largest improvement in the ranking in the Travel and Tourism Index.

Europe’s decline in the travel and tourism index

Overall, the regions of Europe, Eurasia (Europe) and Asia Pacific (APAC) dominate the rankings 9 percent in the index, and 4.9 percent above the index average, respectively. However, Europe is the only region that has lowered its average score since 2019 (only -0.5 percent), slightly eroding its large lead, Sub-Saharan Africa, on the other hand, without the biggest improvement in performance (+1.1 percent), but there is much more to do Even the region’s economies are able to reach the global average of the index (less than 18.4 percent). The Americas, Middle East, and North Africa regions also performed below the global average (-3.1 percent and -2.8 percent below the index average), however, the United States achieved a marginal increase in its results (+0.6 percent), while the middle East and North Africa region remained relatively stable, with an improvement (+ 0.1%) in line with overall global performance.

economic development

The travel and tourism sector is a major driver of economic development, global communication and livelihoods of some of the population and companies most vulnerable and affected by the epidemic. Therefore, supporting the development of the Travel and Tourism Index will in turn help recovery, build sustainability and support all those who depend on the labor sector.

Read more

This section contains related items, located in the Related Nodes field.

The travel and tourism sector had faced difficult operating conditions, but the dynamics of changing demand created opportunities and the need for adaptation. , the display of distance work and “entertainment”.

global gross product

The important contribution of the travel and tourism sector to global economic and social development makes its recovery and long-term growth critical. In 2019, the direct, indirect and driven output of the sector accounted for about 10 percent of global GDP. Moreover, for many emerging economies, travel and tourism are the main sources of export earnings and foreign exchange earnings and investment. On average, among the economies covered by the index, the sector contributed 70 percent more to exports from middle-income economies than to exports from high-income economies in October 2019, thus reversing the growth of the travel and tourism sector will be especially vital. for emerging economies.

The World Bank expects emerging markets and emerging economies will not return to the economic output trends that prevailed in the pre-pandemic period until after 2023, as more than 80 percent of developing and tourism-dependent developing and developing countries are still less than economic ones. production for 2019., while recent concerns about a slowdown in globalization and trade due to the impact of the pandemic and geopolitical tensions further reinforce how important travel and tourism are to the global connection.

Leave a Comment