ISET

ISET Economist Blog

A blog about economics in the South Caucasus.
Nov
08

Travel and Tourism to Georgia: Making Sense of Definitions and Numbers

Travel and Tourism is one of the largest and fastest-growing service industries globally. According to the World Travel and Tourism Council (WTTC), the industry’s direct contribution to World GDP in 2012 was US$ 2.1 trillion (2012 prices) and it supported 101 million jobs. Taking account of its combined direct and indirect impacts, WTTC assesses Travel & Tourism’s total economic contribution at 9% of World GDP in 2012, 1 in 11 jobs, 5% of total economy investment and 5% of world exports (Economic Impact of Travel and Tourism 2013, Annual Update, WTTC...
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