International Tourism at Crossroad Between the Recent Economic Recession and the Actual Growth Trend of the World Economy

Octavian-Liviu Olaru, Constanta-Aurelia Chitiba and Livia-Irina Olaru ()
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Livia-Irina Olaru: "Dimitrie Cantemir" Christian University

Knowledge Horizons - Economics, 2010, vol. 2, issue 3, 16-22

Abstract: As a result of the extremely volatile world economy in 2008, tourism demand slowed steadily through the year. Overall, the 5% growth of the tourism world demand between January and June gave way to a 1% decline in the second half of the year. Growth returned to international tourism in the last quarter of 2009 contributing to better than expected full-year results, according to the outlook drawn up by the UNWTO specialists. International tourist arrivals are estimated to have declined worldwide by 4% in 2009 to 880 million. Against the overall economic indicators in recent months, UNWTO forecasts a growth in international tourist arrivals of between 3% and 4% in 2010. By region, Asia is expected to continue showing the strongest rebound, while Europe and the Americas are likely to recover at a more moderate pace.

Keywords: Financial crisis; recession; stagnation; incertitude; growth (search for similar items in EconPapers)
JEL-codes: M16 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:khe:journl:v:2:y:2010:i:3:p:16-22

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