According to the WTM's 2015 Global Trends Report, geopolitical events are further impacting economic performance, with conflicts affecting certain destinations in the Middle East and North Africa, Russia and Ukraine. Nonetheless, travel continues to shine globally, with arrivals reaching over 1.1 billion in 2014, up by 4.3%. 2015 is forecast to see slightly slower growth, estimated at 3.7%. The International Monetary Fund predicts global GDP growth of 3.2% for 2015, with advanced economies showing an improved outlook with growth slowing in emerging markets. The Asia Pacific region is predicted to see the fastest growth in inbound expenditure over the next five years. Despite a recent slowdown, outbound Chinese travellers are still on the rise, reaching over 84 million in 2014, with increasing disposable incomes favouring overseas trips. Download the report.
Via Tourism Australia
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