Exports from International tourism rise to 1.5 trillion US Dollar in 2014.

Exports from international tourism rise to US$ 1.5 trillion in 2014.

International Desk: International tourism receipts increased by US$ 48 billion in 2014 to reach a record US$ 1,245 billion. An additional US$ 221 billion was generated from international passenger transport, bringing total exports from international tourism up to US$ 1.5 trillion.

Receipts from international visitors spending on accommodation, food and drink, entertainment, shopping and other services and goods reached an estimated US$ 1,245 billion (Euro 937 billion in 2014, an increase of 3.7% in real terms (taking into account exchange rate fluctuations and inflation). International tourist arrivals increased by 4.4% in 2014, reaching a total 1,135 million, up from 1,087 million in 2013. However now it is bringing total exports from international tourism up to US$ 1.5 trillion, or US$ 4 billion a day on average and this sector supports a lot to stimulate economic growth, boost exports and create jobs.

International tourism (travel and passenger transport) represents 30% of the world’s exports of services and 6% of overall exports of goods and services. As a worldwide export category, tourism ranks fourth after fuels, chemicals and food, ranking first in many developing countries.

International tourism receipts grew in all regions

Europe, which accounts for 41% of worldwide international tourism receipts, saw an increase in tourism earnings in absolute terms of US$ 17 billion to US$ 509 billion. Asia and the Pacific saw an increase of US$ 16 billion, reaching US$ 377 billion. Moreover Asia Pacific destinations stand to welcome 33 million more foreign arrivals in 2015 over those of 2014, lifting the expected total inbound volume to around 547 million by the end of the year, as reported by the Pacific Asia Travel Association (PATA).

In the Americas, (22% share), receipts increased by US$ 10 billion to a total of US$ 274 billion. In the Middle East, tourism receipts increased by an estimated US$4 billion to US$ 49 billion and in Africa (3% share) by US$ 1 billion to US$ 36 billion.

China and the United Kingdom move up in the top ten

In the top ten ranking by tourism earnings. China climbed from 5^th to 3^rd place following a 10% increase in earnings to US$ 57 billion in 2014. The United States (US$ 177 billion) and Spain (US$ 65 billion) maintained first and second positions in the ranking. The United Kingdom (US$ 45 billion) moved up two positions to 7^th, boosted by the lasting effects of the Olympics and the appreciation of the UK pound (increasing receipts calculated in US dollar terms). France, Macao and Italy occupy the 4^th to 6^th positions respectively, while Germany, Thailand and Hong Kong complete the top ten.

Source: UNWTO News, Madrid.

Exports from international tourism rise to US$1.5 trillion in 2014.