Tourism Industry a Picture of Cautious Optimism, WTTC Forecast to APEC Tourism Ministers
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US$ 5,490.4 billion of economic activity
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10.4 per cent of total GDP
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214,697,000 jobs or 8.1 per cent of total employment
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12.2 per cent of total exports
Mr. Baumgarten also presented Ministers with a new ranking and scale for Travel & Tourism output in each of the APEC Member Economies. Mr. Baumgarten highlighted "The massive Travel & Tourism demand in the USA at nearly US$1.5 trillion in 2004, followed by Japan at almost US$500 billion.
He continued, "China is also beginning to show its true potential, now ranking at number 8 of 174 countries at nearly US$250 billion in 2004," Mr. Baumgarten said.
"We believe that China will become a tourism economy like the world has never seen. However, the Chinese Government needs to prepare the groundwork for new consumer demand, by facilitating the development of transportation networks, infrastructure, tourism destinations, and a favourable policy environment."
The APEC Travel & Tourism Economies
Travel & Tourism Demand 2004
US$ Millions
| World Rank | Country | US$ Millions |
| 1 | USA | 1,460,000 |
| 2 | Japan | 470,940 |
| 8 | China | 222,851 |
| 9 | Canada | 150,961 |
| 10 | Australia | 94,033 |
| 12 | Mexico | 73,345 |
| 13 | Korea | 69,940 |
| 15 | Russia | 67,655 |
| 20 | Hong Kong, China | 43,562 |
| 27 | Indonesia | 30,301 |
| 28 | Thailand | 29,357 |
| 29 | Chinese Taipei | 26,066 |
| 33 | Malaysia | 24,311 |
| 35 | Singapore | 21,598 |
| 41 | New Zealand | 14,990 |
| 48 | Philippines | 10,136 |
| 54 | Chile | 7,160 |
| 56 | Peru | 6,650 |
| 58 | Viet Nam | 6,029 |
| 121 | PNG | 860 |
| 127 | Brunei Darussalam |
709 |
Mr. Baumgarten also spoke about WTTC's long-term forecast for growth in the APEC economies. The forecast showed Travel & Tourism to be growing fastest in China, Viet Nam, Chinese Taipei, Mexico and Indonesia. With two APEC Economies in WTTC's top ten list, China at number three and Viet Nam at number four, Mr. Baumgarten declared this "an extraordinary vote of confidence from WTTC and its research partner Oxford Economics".
He added, "Although the outlook is particularly positive for many of the APEC economies, we must strengthen our efforts to move Travel & Tourism up the priority ladder and secure our industry against political complacency, terrorism and health concerns so it can fulfil the promise of job creation that the APEC economies seek."
The APEC Travel & Tourism Economies
Travel & Tourism Demand 2005-2014
Annualized Percent Growth
| World Rank | Country | Annl Pct Growth |
| 3 | China | 8.7 |
| 4 | Viet Nam | 8.3 |
| 12 | Chinese Taipei | 7.3 |
| 13 | Mexico | 7.1 |
| 14 | Indonesia | 7.1 |
| 21 | Russia | 6.8 |
| 24 | Hong Kong, China | 6.7 |
| 28 | Singapore | 6.6 |
| 43 | Korea | 6.0 |
| 48 | Malaysia | 5.9 |
| 53 | Thailand | 5.8 |
| 59 | Philippines | 5.7 |
| 68 | Chile | 5.5 |
| 76 | Australia | 5.3 |
| 109 | Peru | 4.5 |
| 111 | PNG | 4.5 |
| 120 | New Zealand | 4.3 |
| 124 | Canada | 4.2 |
| 129 | USA | 4.1 |
| 141 | Brunei Darussalam |
3.8 |
| 173 | Japan |
2.4 |
Mr. Baumgarten also briefed Ministers the WTTC's call to action for growth, the Blueprint for New Tourism, which declares Travel & Tourism as a partnership. The Blueprint is intended as a course of action designed to deliver consistent results that match the needs of economies, local and regional authorities and local communities. The premise behind the Blueprint for New Tourism is based on:
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Governments recognizing Travel & Tourism as a top priority
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Business balancing economics with people, culture and environment
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A shared pursuit of long-term growth and prosperity
The 3rd APEC Tourism Ministers' Meeting was held in Punta Arenas, Chile, on October 13-14. Further information about the meeting and the Patagonia Declaration on Tourism in the APEC Region that was endorsed by Ministers is now available.