Tourism + Travel industry has been one of the fastest growing sectors among the progressive countries around the world. According to a recent study, almost 10% of new jobs were created because of this industry. Since there are no signs for the popularity of traveling to slowdown, tourism management will be given importance on most of the destinations, worldwide. Among these progressive countries, there are 20 of them that have reported 72 % of their GDP or an increase of 3.8 % in their economy was because of this industry.
Did you know that Egypt has the fastest growing tourism + travel destination in the past two years? Amidst the political tensions and controversies, they were able to rank up and reached the top of the list. Through this, it always shows that the tourism and travel industry is resilient – it can quickly recover from tensions, dramatic shocks, and others. Maybe, people are still after visiting their dream destination despite the controversies present in that country. It may slow a little bit at times, but this industry will make its comeback and will help the country’s economy to bloom again.
Even though we now have the advent of modern technology, there are still people who still prefer business travel to close their deals. Most companies have already adopted virtual meetings and video conferencing. But when it is about completing the business deal with international investors, they still go back to the basics – going on business travel.
Not all people went on business travel, so how does this tourism + travel industry foster economic growth? You might have an assumption that most of the travels are done internationally. However, the majority of these come from domestic travel. One reason for this is the middle-class family might not be capable of spending on international travel but would still want to seek new experiences. Hence, they choose to discover the beauty of places closer to their homes.