INTERNATIONAL TOURISM ACTVITY UNDER THE EFFECTS OF THE WORLD ECONOMY SLOWDOWN

ConstanŃa-Aurelia Chițiba (), Octavian-Liviu Olaru () and Livia-Irina Olaru ()
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ConstanŃa-Aurelia Chițiba: Christian University “Dimitrie Cantemir”, Bucharest
Octavian-Liviu Olaru: Christian University “Dimitrie Cantemir”, Bucharest
Livia-Irina Olaru: Christian University “Dimitrie Cantemir”, Bucharest

Romanian Economic Business Review, 2010, vol. 5, issue 1, 197-207

Abstract: As a result of the extremely volatile world economy in 2008, tourism demand slowed significantly through the year. The last six months of 2008, in particular, showed an abrupt shift in trends with international tourist arrivals flat or showing negative growth. 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. In 2009, the decline in international tourism may have started to bottom out, according to the latest edition of the UNWTO World Tourism Barometer. Worldwide, international tourist arrivals declined by 7% between January and August 2009, but the rate of decline has eased in the past few months. These results, as well as the most recent economic data, confirm UNWTO's initial forecast of a 5% decline in international tourist arrivals for the full year 2009. UNWTO’s initial forecast for 2010 indicates that international tourist arrivals are likely to witness a moderate recovery next year, with growth at +1% to +3%.

Keywords: financial crisis; recession; stagnation; incertitude (search for similar items in EconPapers)
Date: 2010
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