Global Tourism Monitor - A Decade of TSA Commitment Results in the Definitive Tourism Research Tool

The Global Tourism Monitor (GTM) being demonstrated to delegates during the World Conference on the Measurement of the Economic Impact of Tourism, contains the most recent WTTC/WEFA Tourism Satellite Account (TSA) estimates and forecasts for 160 countries and aggregates for fifteen key regions. As WTTC/WEFA assist additional countries to construct their own TSA, the data base will be continuously updated.

The GTM platform allows the user to display data in full-colour tables and graphs for cross-country and regional comparisons. Users can quickly access the most recent analysis on tourism and the macro economy in any country and print customised reports for presentation. It also contains the most up-to-date tourism data available (arrivals and expenditures), with forecasts by WEFA analysts. In addition, GTM includes WEFA macro-economic data and forecasts with written analysis of the tourism industry and the total economy.

The Global Tourism Monitor is based on ten years of commitment to Satellite Accounts implementation by WTTC/WEFA, a commitment which resulted in new data for most of the world's economies and helped shape a TSA that reflects the full economic impact of Travel & Tourism.

"The importance of the TSA," says WTTC president, Geoffrey Lipman, "is that it shows the direct impact of the Travel & Tourism industry, the small picture, and at the same time the big picture, the much broader impact as Travel & Tourism demand flows-through the entire economy. This big picture shows the impact on infrastructure, jobs across the economy, and exports: it is where the real political rubber hits the road. In the future the Global Tourism Monitor will become a definitive analytical tool for research and policy making in both the private and public sector. It will show and help them understand the full impact of Travel & Tourism on their economy and that of other countries and regions."

In his speech to the conference Lipman encouraged delegates to try out the Global Tourism Monitor which he said "included interesting analytical bells and whistles" which could, for example, show how high the negative effect on tourism GDP or employment would be if the UK increased airport tax, or what would happen to employment in Zimbabwe if tourism promotional funding were increased by $10 million or $25 million. "Providing the answers to these questions will be the living proof of the Travel & Tourism Satellite Account's value. Not just as an instrument of statistical comparison or economic analysis, but also as a tool for policy making," he said.

NOTE: The World Travel & Tourism Council is the Global Business Leaders' Forum for Travel & Tourism. Its Members are over 100 Chief Executives from all sectors of industry, including accommodation, catering, entertainment, recreation, transportation and other travel-related services. Its central goal is to work with governments to realise the full potential economic impact of the world?s largest generator of wealth and jobs - Travel & Tourism.

Founded in 1963, WEFA is one of the world's leading economic consulting and forecasting firms. With economists based around the world, it distributes data on 160 countries and forecasts 94 country economies in depth.