UNWTO: Exports from International Tourism Rise to $1.5 Trillion in 2014

Receipts from international visitors spending on accommodation, food and drink, entertainment, shopping and other services and goods reached an estimated US$ 1,245 billion (937 billion euros) in 2014, the UN World Tourism Organization (UNWTO) announced on Wednesday. The figure is an increase of 3.7 percent in real terms taking into account exchange rate fluctuations and inflation.

International tourist arrivals increased by 4.4 percent in 2014, reaching a total 1,135 million, up from 1,087 million in 2013.

As the UNWTO underlined, aside from international tourism receipts (the travel item of the Balance of Payment), tourism also generates export earnings through international passenger transport services (rendered to non-residents). The latter amounted to an estimated US$ 221 billion in 2014, bringing total exports from international tourism up to US$ 1.5 trillion, or US$ 4 billion a day on average.

International tourism (travel and passenger transport) represents 30 percent of the world’s exports of services and 6 percent 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 percent of worldwide international tourism receipts, saw an increase in tourism earnings in absolute terms of US$ 17 billion to US$ 509 billion (383 billion euros).

Asia and the Pacific (30 percent share) saw an increase of US$ 16 billion, reaching US$ 377 billion (284 billion euros). In the Americas, (22 percent share), receipts increased by US$ 10 billion to a total of US$ 274 billion (206 billion euros). In the Middle East (4 percent share), tourism receipts increased by an estimated US$ 4 billion to US$ 49 billion (37 billion euros) and in Africa (3 percent share) by US$ 1 billion to US$ 36 billion (27 billion euros).