Interview: WTTC CEO, David Scowsill comments on revised forecast for 2011 and 2012
Interview with WTTC CEO, David Scowsill. The global Travel & Tourism industry will grow more slowly in 2011 and 2012 than previously indicated, according to the World Travel & Tourism Council (WTTC). WTTC's annual research, published in March 2011, forecast growth of 4.5% and 5.1% in 2011 and 2012 respectively. Following the deterioration in global financial conditions in the second half of 2011, the continuing eurozone debt crisis, and the...
Interview with WTTC CEO, David Scowsill. The global Travel & Tourism industry will grow more slowly in 2011 and 2012 than previously indicated, according to the World Travel & Tourism Council (WTTC). WTTC's annual research, published in March 2011, forecast growth of 4.5% and 5.1% in 2011 and 2012 respectively. Following the deterioration in global financial conditions in the second half of 2011, the continuing eurozone debt crisis, and the threat of a return to recession in the United States, the growth forecasts for 2011 and 2012 have been downgraded to 3.2% and 3.3% respectively. The numbers measure direct contribution to GDP.