Business
Impact of Tourism by Country and State
Impact of Tourism by Country and State
Over the last 30 years, the price of airfare has fallen over 50%. It goes to show, since airlines have lost money every other year since 1981. The industry bled $51 billion in the 10 year span between 2001 and 2011 as more competition entered the space.
However, this is a boon for consumers and for the regions getting attention from international tourists. In terms of sheer volume, the travel industry has never been as good. The global share of GDP for the travel industry is now 9.5%. In 2012, it is also worth noting that China overtook every other country in travel spending abroad with a hefty $102 billion of expenditures.
While it is not the easiest thing to play from an investment perspective, it is a continuing trend that arches above everything else. There are also some interesting Chinese companies to consider such as Ctrip.com (NASDAQ: CTRP) which essentially aggregates hotel and flight deals in China.
Original graphic from: Online Accounting Degrees
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