Jean-Claude Baumgarten President World Travel & Tourism CouncilSlide 3
FOUNDING MEMBERS Abercrombie & Kent Accor Hotels American Airlines American Express Avis British Airways Canadian Pacific Hotels Delta Air Lines East Japan Railways Hertz Iberia Airlines Regent International Hotels The Promus Companies Thrifty Rent-a-Car United Airlines Westin Hotels & ResortsSlide 4
Consumption = Travel & Tourism Industry Demand = Travel & Tourism EconomySlide 6
What is Driving the Global Economy? Full scale strategy still strong regardless of rising premium rates Long-term premium rates low China keeps on blasting Buoyant organization benefits Recovery in certainty and securities exchanges High oil costs not ended up being real limitation on developmentSlide 7
Risks to the Forecast Avian influenza pandemic real hazard for air travel and universal exchange US buyers come up short on steam Twin deficiencies in the US Chinese hard landing Tighter arrangement causes European and Japanese recuperation to slow down TerrorismSlide 8
Implications for Travel & Tourism Travel & Tourism industry profiting from quality of worldwide economy Low premium rates supporting solid shopper request Improvement in organization funds and M&A movement boosting business travel Energy expenses affecting the P&L main concern Countries profoundly reliant on inbound tourism the most presented to an influenza pandemic Long-term prospects still extremely positiveSlide 10
Richard R. Mill operator Executive Vice President World Travel & Tourism CouncilSlide 11
September 11, 2001Slide 13
Spring 2003Slide 15
2004 Remarkable Robust RecoverySlide 16
December 26, 2004Slide 17
2005 Sowing the Seeds of GrowthSlide 18
July 7, 2005Slide 19
2006 Climbing to New HeightsSlide 20
WTTCâs 2006 Tourism Satellite Accounting ResearchSlide 21
The World PerspectiveSlide 22
World 2005 indicated vigorous development no matter how you look at it. For 2006 we expect more grounded Visitor Exports yet other spending somewhat off 2005 levels of development, yet at the same time detectably higher than 10-year annualized estimate.Slide 23
T&T Economy GDP World Average Caribbean Other Western Europe Oceania European Union North Africa Middle East Northeast Asia Sub-Saharan Africa 2006 T&T Economy GDP (Percent of Total) Central and Eastern Europe North America South Asia Latin America Southeast Asia T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 24
T&T Economy GDP World Average 2006 T&T Economy GDP (Percent of Total) North America Latin America T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 25
T&T Economy GDP Costa Rica Canada Mexico United States 2006 T&T Economy GDP (Percent of Total) Panama Uruguay Too Small: El Salvador, Honduras, Bolivia, Paraguay, Nicaragua, Belize, Suriname, Guyana Ecuador Peru Colombia Guatemala Venezuela Brazil Argentina Chile T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 26
T&T Economy GDP World Average Other Western Europe European Union 2006 T&T Economy GDP (Percent of Total) T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 27
T&T Economy GDP EU Average Portugal Malta Greece Cyprus Sweden Spain Belgium Slovenia Austria Slovakia Iceland 2006 T&T Economy GDP (Percent of Total) Switzerland Estonia Italy Czech Republic Turkey Lux Lithuania Denmark Hungary Latvia Poland Netherlands France Ireland United Kingdom Germany Norway Finland T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 28
T&T Economy GDP World Average Oceania Northeast Asia 2006 T&T Economy GDP (Percent of Total) South Asia Southeast Asia T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 29
T&T Economy GDP Maldives (67%) Other Oceania (32%) Cambodia Fiji (33%) Macau (86%) Hong Kong Malaysia New Zealand China Thailand Brunei Australia Sri Lanka 2006 T&T Economy GDP (Percent of Total) Singapore Laos Vietnam Philippines Papua NG Nepal Too Small: Vanuatu, Tonga, Solomon Islands, Kiribati Japan India Indonesia Bangladesh South Korea Burma Pakistan Chinese Taipei T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 30
T&T Economy GDP World Average Central and Eastern Europe 2006 T&T Economy GDP (Percent of Total) T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 31
T&T Economy GDP Croatia Bulgaria Montenegro Bosnia/Herz 2006 T&T Economy GDP (Percent of Total) Albania Ukraine Russian Federation Macedonia Yugoslavia Romania Belarus T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 32
T&T Economy GDP World Average North Africa Middle East 2006 T&T Economy GDP (Percent of Total) T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 33
T&T Economy GDP Bahrain Jordan Morocco Tunisia Egypt Syria 2006 T&T Economy GDP (Percent of Total) Libya Qatar Lebanon Iran UAE Yemen Algeria Kuwait Saudi Arabia Israel Oman T&T Economy GDP Growth 2006-2015 (Percent Annualized)Slide 34
T&T Economy GDP World Average Caribbean 2006 T&T Economy GDP (Percent of Total) T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 35
T&T Economy GDP Caribbean Avg US Passport Impact Begins 2007 Potential to Benefit Antigua Barbuda Aruba Anguilla Barbados Bahamas 2006 T&T Economy GDP (Percent of Total) St Lucia BVIâs Guadeloupe US Virgin Islands Jamaica Cayman Islands Grenada Dominica Dominican Republic St Kitts/Nevis St Vin/Gren Cuba Trinidad Tobago Puerto Rico Bermuda Curaã§ao Martinique Haiti T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 36
In Jeopardy - Visitor Exports *Potential to Benefit Percent of Total Visitor ExportsSlide 37
T&T Economy GDP World Average 2006 T&T Economy GDP (Percent of Total) Sub-Saharan Africa T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 38
T&T Economy GDP Angola (41%) Seychelles (54%) Mauritius Cape Verde 2006 T&T Economy GDP (Percent of Total) Nigeria South Africa Kenya Namibia Sudan Gabon Chad Reunion T&T Economy GDP Growth 2007-2016 (Percent Annualized)Slide 39
The Top Ten ListsSlide 40
2006 - 2016Slide 41
T&T Demand WTTCâs Top Ten Industry Growers (2007-2016 Annualized Real Growth, Percent) 1 Montenegro 10.2 2 China 8.7 3 India 8.0 4 Romania 7.9 5 Croatia 7.6 6 Vietnam 7.5 7 Latvia 7.3 8 Maldives 7.2 9 Albania 7.0 10 Cambodia 7.0Slide 42
T&T Economy Employment WTTCâs Top Ten Job Creators (2007-2016 Employment Growth, Jobs) 1 China 12,389,790 2 Mexico 2,858,515 3 India 2,666,670 4 Indonesia 2,539,180 5 Spain 1,364,452 6 Brazil 1,359,725 7 Japan 1,136,158 8 Vietnam 924,618 9 France 909,185 10 Philippines 873,971Slide 43
T&T Capital Investment WTTCâs Top Ten Investors (2005-2014 Annualized Real Growth, Percent) 1 Spain 9.4 2 Russian Federation 9.3 3 Mexico 8.8 4 China 8.3 5 Hong Kong 8.2 6 India 7.8 7 Libya 7.8 8 Montenegro 7.5 9 Norway 7.4 10 Bahrain 6.9Slide 44
EU25, G8 Plus 5Slide 45
European Union Strength of most TSA components pushed the EU25 to phenomenal results in 2005. In 2006, surging Visitor Exports are relied upon to move EU25 results above last yearâs GDP and Employment levels. Just shortcomings indicating in 2006 are Govt Expenditures and Capital Investment.Slide 46
Canada In 2005, Visitor Exports was powerless connection with genuine loss of 2.4%, while GDP still met 10 year avg from quality of Personal, Biz Travel and Capital Investment. This year, Visitor Exports bounce back (+5.3%) is relied upon to return industry to solid GDP and Employment position.Slide 47
China Continuation of uncommon development, twofold digit in all classes with the exception of Govt Spending, however solid as well. In 2006, Personal and Biz Travel are pushing genuine Industry GDP development up 12.7% while Capital Investment is keeping Economy GDP high.Slide 48
France 2005 was an in number year for Travel & Tourism in France except for Visitor Exports. 2006 ought to take action accordingly aside from Capital Invest is required to debilitate and Visitor Exports fortify with the last pushing GDP and Employment to more elevated amounts.Slide 49
Germany Personal and Biz T&T are doing great in Germany, and Visitor Exports is surpassing 10-year estimate putting GDP and Jobs in good position. Govt Expend and Capital Investment were down in 2005, yet anticipated that would recoup and support T&T Econ. Gross domestic product and Jobs in 2006.Slide 50
India 2006 gives off an impression of being a close rehash of an extremely solid 2005 in all classes of Travel & Tourism financial aspects except for a more grounded viewpoint for Biz Travel.Slide 51
Italy 2006 hopes to see more grounded Biz Travel and Visitor Export spending and still solid Personal Travel & Tourism, while Govt Spending and Capital Investment show huge debilitating. General viewpoint is solid for GDP and Jobs.Slide 52
Japan 2005 was a decent year for Japanâs Travel & Tourism economy with all classifications surpassing the 10-year figure. The 2006 estimate is additionally positive and just marginally under 2005 levels.Slide 53
Netherlands 2005 was a positive year for Netherlands Travel & Tourism, yet 2006 guarantees to be a shockingly better year for the most part as a consequence of more grounded desires for Biz Travel and Visitor Exports. Gross domestic product and Jobs are well surpassing the 10-year standpoint.Slide 54
Russian Federation 2005 was a decent year for Russia Travel & Tourism, with the exception of Visitor Exports. 2006 Visitor Exports ought to bounce back while Personal and Biz Travel draw back somewhat and Capital Investment falls. 2006 T&T Industry GDP and Jobs do well. T&T Economy GDP and Jobs endure.Slide 55
Spain Expectations for a no
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