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2010Romania
TRAVEL & TOURISMECONOMIC IMPACT
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THE WORLD TRAVEL & TOURISM COUNCIL (WTTC), WHICHIS THE BUSINESS LEADERS FORUM FOR TRAVEL & TOURISM,
HAS SPENT 20 YEARS DEVELOPING ITS ECONOMIC IMPACT
RESEARCH FOR THE BENEFIT OF TRAVEL & TOURISM DECISION-
MAKERS WHETHER IN THE PRIVATE OR PUBLIC SECTOR.
THIS COMPREHENSIVE RESEARCH USES THE FRAMEWORK OF
TOURISM SATELLITE ACCOUNTS.
Since ull Tourism Satellite Accounts (TSAs) take considerable time and resources to develop,WTTC produces simulated TSAs on an annual basis, covering 181 countries, in order to provide
reliable and comparable inormation to assess Travel & Tourisms current and likely uture
contribution to economic activity and employment. Timeliness is one o the main strengths o
our research. In the critical post-crisis recovery phase currently underway, it can inorm and help
drive urgent policy-making and investment decisions.
Our 2010 research, again produced in co-operation with Oxord Economics, assesses the economic impact o
Travel & Tourism or the 181 countr ies, as well as or the world overall. It measures spending on Travel & Tourism
by households, businesses, governments, overnight and same-day visitors, in order to capture ully the economic
contribution o both domestic and international tourism, thereby quantiying Travel & Tourisms contribution to
gross domestic product (GDP) and employment.
In line with the trend in other sectors in 2009, Travel & Tourism activity was hit hard by the credit and housing
market collapses experienced in many countries, with households cutting back on leisure travel and corporations
reducing business travel budgets. The impact on Travel & Tourism investment was also signifcant. Yet even though
Travel & Tourism activity was so depressed, it still employed over 235 million people across the world last year,
generating 9.4% o global GDP.
Although there are signs that the global economy has moved into a recovery phase, we are expecting the pick-up
in developed economies a key source o Travel & Tourism Demand in the short term to be gradual, with both
corporations and households continuing to reconsider travel plans and to limit expenditure.
Nevertheless, despite the current blip in growth trends, our research confrms that prospects or the longer term
remain positive. Over the next ten years, Travel & Tourism will continue to grow in importance as one o the
worlds highest-priority sectors and employers.
Emerging economies will o course be the main engines o our orecast growth, both in terms o domestic and
international Travel & Tourism. But an increasing ocus on leisure in developed economies should stimulate
travel demand, even in mature markets, boosted by industry innovation in creating new sustainable products and
services.
In anticipation o these better times ahead, we are delighted to present you with the 2010 Executive Summary
o WTTCs Travel & Tourism: Economic Impact.
Jean-Claude Baumgarten
President & CEO
World Travel & Tourism Council
Geoffrey J W Kent
Chairman, World Travel & Tourism Council and
Chairman & CEO, Abercrombie & Kent
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CONTENTS
Key Facts at a Glance 3
Summary Economic Impact and Real Growth 4
Summary Tables 6
Concepts & Structure 7
Travel & Tourism Satellite Account
Gross Domestic Product 8
Employment 9
Satellite Account Tables 10
Ranking and Range 12
General Macroeconomic Indicators 12
THE ECONOMIC IMPACT OF TRAVEL & TOURISM
USE OF MATERIAL IS AUTHORISED, PROVIDED SOURCE IS ACKNOWLEDGED
1-2 Queen Victoria terrace, SoVereign court, London e1W 3Ha, uK
TeL: +44 (0) 20 7481 8007. Fax: +44 (0) 20 7488 1008. EmaiL: [email protected]. www.wttc.org2
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2010 10-year
trendGross Domestic Product (GDP)
5.1%
Growth-5.4%
Employment6.1%
Visitor Exports2.4%
Investment7.4%
World ranking (out of 181 countries)59 11
ABSOLUTE GROWTHsize forecast
Ranking in European Union (out of 27 countries)19 1
ABSOLUTE GROWTHsize forecast
Direct Industry T&T Economy as a whole Direct Industry T&T Economy as a whole
ROMANIA
KEY FACTS AT A GLANCE2010 TRAVEL & TOURISM ECONOMIC RESEARCH
The contribution of Travel & Tourism to Gross Domestic Product (GDP) is
expected to rise from 5.1% (RON25.9bn or US$9,005.9mn) in 2010 to 6.4%
(RON78.8bn or US$22,825.7mn) by 2020.
Real GDP growth for the Travel & Tourism Economy is expected to be -5.4% in
2010 and to average 7.3% per annum over the coming 10 years.
Travel & Tourism Gross Domestic Product
155
26
RELATIVEcontribution to national economy
Travel & Tourism investment is estimated at RON10.3bn, US$3,577.7mn or 7.4%
of total investment in 2010. By 2020, this should reach RON38.4bn,
US$11,126.2mn or 7.8% of total investment.
(2000 constant US$mn) ('000 jobs)
1-2 QUEEN VICTORIA TERRACE, SOVEREIGN COURT, LONDON E1W 3HA, UK
The contribution of the Travel & Tourism Economy to employment is expected to
rise from 6.1% of total employment, 519,000 jobs or 1 in every 16.3 jobs in 2010, to
7.7% of total employment, 670,000 jobs, or 1 in every 13.0 jobs by 2020.
TEL: +44 (0) 20 7481 8007 . FAX: +44 (0) 20 7488 1008 . [email protected] . www.wttc.org
ROMANIA
Travel & Tourism Employment
ROMANIA
RELATIVEcontribution to national economy
Export earnings from international visitors are expected to generate 2.4% of total
exports (RON4.5bn or US$1,570.4mn) in 2010, growing (nominal terms) to
RON16.3bn or US$4,729.4mn (2.6% of total) in 2020.
2010 World Travel & Tourism Council
0
100
200
300
400
500
600
700
800
2005 2006 2007 2008 2009 2010 2015 2020
0
1
2
3
4
5
6
7
2005 2006 2007 2008 2009 2010 2015 2020
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RON 10 bn 267,000(US$3,405mn) jobs, representing 3.2%
equivalent to 1.9% of total GDP of total employment
RON 26 bn 519,000(US$9,006mn) jobs, representing 6.1%
equivalent to 5.1% of total GDP of total employment
RON 9 bn RON 10 bn(US$2,984mn) (US$3,578mn)
equivalent to 4.5% of total exports equivalent to 7.4% of total investment
RON 1 bn(US$511mn)
equivalent to a 4.4% share
ECONOMIC IMPACT
Direct Industry Employment
Economy GDP Economy Employment
IN 2010 ROMANIA'S TRAVEL & TOURISM IS EXPECTED TO GENERATE
RON26BN (US$9,006MN) OF ECONOMIC ACTIVITY (GDP). THE INDUSTRY'S
DIRECT IMPACT INCLUDES:
HOWEVER, SINCE TRAVEL & TOURISM TOUCHES ALL SECTORS OF THE
ECONOMY, ITS REAL IMPACT IS EVEN GREATER. ROMANIA'S TRAVEL &
TOURISM ECONOMY DIRECTLY AND INDIRECTLY ACCOUNTS FOR:
Direct Industry GDP
Exports, Services & Merchandise Capital Investment
Government Expenditure
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REAL GROWTH
-3.5 % -2.1 %
-5.4 % -4.7 %
8.2 % 2.6 %
7.3 % 2.6 %
7.1 % 9.2 %
9.5 % 3.4 %
Visitor Exports - Travel & Tourism
Government Expenditure - Travel & Tourism
to RON10bn (US$3,405mn) to 267,000 jobs
to RON26bn (US$9,006mn) to 519,000 jobs
IN 2010, TRAVEL & TOURISM IN ROMANIA IS FORECAST TO SEE REAL
DECLINE/GROWTH OF:
Capital Investment - Travel & Tourism
Economy GDP Economy Employment
Direct Industry GDP Direct Industry Employment
Economy GDP Economy Employment
Direct Industry GDP Direct Industry Employment
to RON38,425bn (US$11,126mn) in 2020 to RON3,092bn (US$895mn) in 2020
OVER THE NEXT TEN YEARS, ROMANIA'S TRAVEL & TOURISM ISEXPECTED TO ACHIEVE ANNUALISED REAL GROWTH OF:
to RON79bn (US$22,826mn) in 2020 to 670,000 jobs in 2020
to RON105bn (US$30,453mn) in 2020 to RON16,333bn (US$4,729mn) in 2020
to RON32bn (US$9,365mn) in 2020 to 346,459 jobs in 2020
Demand - Travel & Tourism
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SUMMARY TABLES
ESTIMATES AND FORECASTS
2010
RONbn RONbn
Personal Travel & Tourism 12.8 3.8 -6.1 28.8 4.5 4.2
Business Travel 2.2 0.4 -7.1 5.2 0.4 4.8
Government Expenditures 1.5 4.4 -5.3 3.1 4.6 3.4
Capital Investment 10.3 7.4 -7.1 38.4 7.8 9.5
Visitor Exports 4.5 2.4 -5.8 16.3 2.6 9.2
Other Exports 4.1 2.1 1.6 13.2 2.1 8.0
T&T Demand 35.2 5.0 -5.6 105.2 5.7 7.1
Direct Industry GDP 9.8 1.9 -3.5 32.3 2.6 8.2
T&T Economy GDP 25.9 5.1 -5.4 78.8 6.4 7.3
Direct Industry Employment3
267.1 3.2 -2.1 346.5 4.0 2.6T&T Economy Employment3 518.6 6.1 -4.7 670.1 7.7 2.6
12010 real growth adjusted for inflation (%); 22011-2020 annualised real growth adjusted for inflation (%);3'000 jobs
US$bn US$bn
Personal Travel & Tourism 1,008.5 9.7 0.1 1,478.6 10.3 2.8
Business Travel 225.9 1.3 -3.5 338.9 1.4 3.1
Government Expenditures 130.1 3.3 1.0 169.5 3.4 1.5
Capital Investment 289.8 8.8 -4.8 458.3 9.0 3.5
Visitor Exports 418.2 6.2 -2.0 698.4 5.6 4.1
Other Exports 341.7 5.1 3.4 625.1 5.0 5.3
T&T Demand 2,414.2 9.9 -0.7 3,768.8 10.1 3.4
Direct Industry GDP 610.0 3.4 -1.2 887.6 3.5 2.7
T&T Economy GDP 1,699.0 9.5 -1.3 2,528.0 10.1 2.9
Direct Industry Employment3 8,381.8 3.9 -2.9 9,408.4 4.2 1.2
T&T Economy Employment3 22,211.0 10.3 -3.8 25,042.8 11.1 1.2
12010 real growth adjusted for inflation (%); 22011-2020 annualised real growth adjusted for inflation (%);3'000 jobs
WORLDWIDE US$bn US$bn
Personal Travel & Tourism 3,111 8.4 1.6 5,793 8.8 4.1Business Travel 819 1.3 -1.8 1,589 1.4 4.3
Government Expenditures 436 3.8 2.6 744 4.0 3.1
Capital Investment 1,241 9.2 -1.7 2,757 9.4 5.3
Visitor Exports 1,086 6.1 0.9 2,160 5.2 5.2
Other Exports 850 4.8 5.9 1,908 4.5 6.5
T&T Demand 7,543 9.4 1.1 14,950 9.5 4.7
Direct Industry GDP 1,986 3.2 0.7 3,650 3.2 4.0
T&T Economy GDP 5,751 9.2 0.5 11,151 9.6 4.4
Direct Industry Employment3 81,913 2.8 -0.1 104,740 3.2 2.5
T&T Economy Employment3 235,758 8.1 -0.3 303,019 9.2 2.5
12010 real growth adjusted for inflation (%); 22011-2020 annualised real growth adjusted for inflation (%);3'000 jobs
Growth2
% of total
% of total
Growth1
Growth2
Growth2
2010
% of total
2020
2020
% of totalGrowth1
% of total Growth1
2020
ROMANIA % of total
EUROPEAN UNION
2010
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CONCEPTS & STRUCTURE
Romania'sTravel & Tourism Demand ofRON35.2bn in 2010
less imported goods and services(including Travel & Tourismspending abroad) of RON9.4bn...
...equals Travel & Tourism EconomyGDP of RON25.9bn...
Direct industry GDP T&T Economy GDP
...and supports 519,000 jobsacross Romania
Direct industry Employment T&T Economy Employment
ROMANIA
Travel & Tourism Economy GDP in 2010
ROMANIA
Travel & Tourism Employment in 2010
In order to quantify the economic impact of Travel & Tourism, we use the framework of a Tourism Satellite Account
(TSA). Our estimates are based on demand-side analysis of Travel & Tourism's impact on economic activity, since
the sector does not produce or supply a homogeneous product or service like traditional industries (agriculture, electronics,
steel, etc).
Travel & Tourism Demand in 2010
ROMANIA
P erso na l T &T - 3 6. 18 % B usi nes s T &T - 6 .1 6%
Gov't Expenditures - 4.17% Capital Investment - 29.17%
Vis itor Exports - 12.80% Other Export s - 11.52%
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GROSS DOMESTIC PRODUCT
ROMANIA ROMANIA
Travel & Tourism Gross Domestic Product Travel & Tourism Economy GDP
(2000 constant US$mn) (real growth, %)
EUROPEAN UNION ROMANIA v REGION
Travel & Tourism Gross Domestic Product Travel & Tourism Economy GDP
(2000 constant US$bn) (real growth variance, %)
WORLDWIDE ROMANIA v WORLDWIDETravel & Tourism Gross Domestic Product Travel & Tourism Economy GDP
(2000 constant US$bn) (real growth variance, %)
WTTC League Table Extract 2010 WTTC League Table Extract 10-Yr Real Growth
Travel & Tourism Economy GDP % of total GDP Travel & Tourism Economy GDP Annualised, %
1 21 Croatia 24.8 11 Romania 7.3
2 27 Albania 20.7 26 Slovakia 6.3
3 37 Greece 15.5 43 Croatia 5.9
4 53 Austria 12.5 64 Czech Republic 5.4
5 60 Bulgaria 11.9 77 Albania 5.0
6 70 Czech Republic 10.4 113 Bulgaria 4.4
7 73 Slovakia 9.9 128 Austria 4.1
8 79 Italy 9.4 145 Hungary 3.5
9 116 Hungary 7.4 149 Greece 3.5
10 155 Romania 5.1 170 Italy 2.4
Direct Industry GDP T&T Economy GDP
Direct Industry GDP T&T Economy GDP
WORLD
Direct Industry GDP T&T Economy GDP
TRA
VEL&TOUR
ISMSATELLIT
EACCOUNT
Romania's T&T Direct Industry is expected to contribute 1.9% to Gross Domestic Product (GDP) in 2010 (RON9.8bn or
US$3,404.5mn), rising in nominal terms to RON32.3bn or US$9,364.8mn (2.6% of total) by 2020. The T&T Economy
contribution (% of total) should rise from 5.1% (RON25.9bn or US$9,005.9mn) to 6.4% (RON78.8bn or
US$22,825.7mn) in this same period.
COUNTRY
REGION
0
1
1
2
2
3
3
4
4
2005 2006 2007 2008 2009 2010
0
200
400
600
800
1,000
1,200
2005 2006 2007 2008 2009 2010
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
2005 2006 2007 2008 2009 2010
-25
-20
-15
-10
-5
0
5
10
15
20
1990 1995 2000 2005 2010 2015 2020
-30
-25
-20
-15
-10
-5
0
5
10
15
20
1990 1995 2000 2005 2010 2015 2020
-30
-25-20
-15
-10
-5
0
5
10
15
20
1990 1995 2000 2005 2010 2015 2020
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EMPLOYMENT
ROMANIA ROMANIA
Travel & Tourism Employment Travel & Tourism Economy Employment
('000 Jobs) (real growth, %)
EUROPEAN UNION ROMANIA v REGION
Travel & Tourism Employment Travel & Tourism Economy Employment
('000 Jobs) (real growth variance, %)
WORLDWIDE ROMANIA v WORLDWIDETravel & Tourism Employment Travel & Tourism Economy Employment
('000 Jobs) (real growth variance, %)
WTTC League Table Extract 2010 WTTC League Table Extract 10-Yr Real Growth
Travel & Tourism Economy Employment % of total emp Travel & Tourism Economy Employment Annualised, %
20 Croatia 27.3 45 Austria 3.0
30 Greece 18.8 71 Slovakia 2.6
36 Albania 16.7 76 Romania 2.6
48 Austria 13.4 101 Croatia 2.2
62 Italy 10.9 123 Albania 1.8
67 Bulgaria 10.2 129 Greece 1.6
76 Czech Republic 9.8 150 Italy 1.1
85 Slovakia 8.8 162 Czech Republic 0.8
107 Hungary 7.0 173 Hungary -0.4
125 Romania 6.1 178 Bulgaria -1.8
Direct Industry jobs T&T Economy jobs
Romania's 267,000 T&T Direct Industry jobs account for 3.2% of total employment in 2010 and are forecast to total
346,000 jobs or 4.0% of the total by 2020.The contribution of the Travel & Tourism Economy to employment is
expected to rise from 6.1% of total employment, 519,000 jobs or 1 in every 16.3 jobs in 2010, to 7.7% of total
employment, 670,000 jobs, or 1 in every 13.0 jobs by 2020.
Direct Industry jobs T&T Economy jobs
Direct Industry jobs T&T Economy jobs
TRA
VEL&TOUR
ISMSATELLIT
EACCOUNT
COUNTRY
REGION
WORLD
0
100
200
300
400
500
600
700
2005 2006 2007 2008 2009 2010
-12
-10
-8
-6
-4
-2
0
2
4
6
8
10
1990 1995 2000 2005 2010 2015 2020
0
5,000
10,000
15,000
20,000
25,000
2005 2006 2007 2008 2009 2010
-15
-10
-5
0
5
10
1990 1995 2000 2005 2010 2015 2020
0
50,000
100,000
150,000
200,000
250,000
300,000
2005 2006 2007 2008 2009 2010-15
-10
-5
0
5
10
1990 1995 2000 2005 2010 2015 2020
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SATELLITE ACCOUNT TABLESROMANIA
Travel & Tourism - RONbn 2005 2006 2007 2008 2009E 2010F 2020F
Personal Travel & Tourism 8.6 10.1 11.3 13.5 12.5 12.8 28.8
Business Travel & Tourism 1.3 1.6 2.0 2.4 2.2 2.2 5.2
Corporate 1.2 1.4 1.8 2.2 1.9 2.0 4.8
Government 0.2 0.2 0.2 0.2 0.2 0.2 0.4
Government Expenditures - Individual 0.1 0.2 0.2 0.2 0.2 0.2 0.5
Visitor Exports 2.5 3.1 3.7 4.7 4.4 4.5 16.3
Travel & Tourism Consumption 12.5 14.9 17.2 20.9 19.4 19.7 50.9
Government Expenditures - Collective 0.7 0.8 1.0 1.2 1.2 1.2 2.6
Capital Investment 4.7 6.2 8.9 12.1 10.2 10.3 38.4
Other Exports 2.4 2.8 3.0 3.8 3.7 4.1 13.2
Travel & Tourism Demand 20.5 24.7 30.1 37.9 34.5 35.2 105.2
Travel & Tourism Direct Industry
Employment ('000) 262.0 267.8 270.9 276.9 272.9 267.1 346.5
Gross Domestic Product 5.3 6.4 7.7 9.5 9.4 9.8 32.3
Travel & Tourism Economy
Employment ('000) 484.2 506.5 541.3 582.0 544.3 518.6 670.1
Gross Domestic Product 13.5 16.5 20.8 26.8 25.3 25.9 78.8
Travel & Tourism Accounts
as % of National Accounts 2005 2006 2007 2008 2009E 2010F 2020F
Personal Travel & Tourism 3.8 3.8 3.6 3.6 3.7 3.8 4.5
Government Expenditures 4.3 4.4 4.4 4.4 4.4 4.4 4.6
Capital Investment 7.1 7.2 7.3 7.4 7.4 7.4 7.8
Visitor & Other Exports 5.1 5.3 5.5 5.5 4.9 4.5 4.7
Travel &Tourism Imports 5.6 5.4 5.1 5.1 5.1 4.7 4.3
Travel & Tourism Direct Industry
Employment 3.1 3.1 3.1 3.1 3.2 3.2 4.0
Gross Domestic Product 1.9 1.9 1.9 1.9 2.0 1.9 2.6
Travel & Tourism Economy
Employment 5.8 5.9 6.2 6.6 6.3 6.1 7.7
Gross Domestic Product 5 4.9 5.2 5.5 5.3 5.1 6.4
Travel & Tourism Real Growth
(per annum except 2020 =
10-year annualised) 2005 2006 2007 2008 2009E 2010F 2020F
Personal Travel & Tourism 4.7 5.5 1.8 5.5 -12.7 -6.1 4.2
Business Travel & Tourism 1.5 8.1 11.4 9.4 -16.5 -7.1 4.8
Government Expenditures 12.2 1.7 2.7 9.5 -4.6 -5.3 3.4
Capital Investment 12.7 17.4 30.9 20.1 -20.6 -7.1 9.5
Visitor Exports 1.1 13.1 8.4 12.1 -11.4 -5.8 9.2
Other Exports -7.1 1.9 -1.8 12.2 -8.8 1.6 8.0
Travel & Tourism Consumption 3.7 7.3 4.2 7.4 -12.7 -6.1 5.6
Travel & Tourism Demand 4.4 8.8 10.2 11.7 -14.6 -5.6 7.1
Travel & Tourism Direct Industry
Employment 1.1 2.2 1.1 2.2 -1.4 -2.1 2.6
Gross Domestic Product 6.0 8.3 8.8 9.1 -7.1 -3.5 8.2
Travel & Tourism Economy
Employment 2.9 4.6 6.9 7.5 -6.5 -4.7 2.6Gross Domestic Product 7.6 9.9 14.5 13.9 -11.4 -5.4 7.3
E - Estimate; F - Forecast
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SATELLITE ACCOUNT TABLESROMANIA
Travel & Tourism - US$ mn 2005 2006 2007 2008 2009E 2010F 2020F
Personal Travel & Tourism 2,947.1 3,586.8 4,644.4 5,356.8 4,114.9 4,438.0 8,353.5
Business Travel & Tourism 457.2 569.9 807.4 965.7 708.8 756.1 1,514.0
Corporate 400.0 505.2 724.5 875.1 639.0 681.8 1,402.9
Government 57.2 64.7 82.9 90.5 69.8 74.3 111.2
Government Expenditures - Individual 49.5 58.0 75.8 90.7 76.1 82.8 145.0
Visitor Exports 846.2 1,103.8 1,521.5 1,864.4 1,452.8 1,570.4 4,729.4
Travel & Tourism Consumption 4,299.9 5,318.5 7,049.0 8,277.6 6,352.7 6,847.3 14,742.0
Government Expenditures - Collective 256.2 300.3 392.2 469.3 393.9 428.5 750.3
Capital Investment 1,622.8 2,197.4 3,659.3 4,804.9 3,355.8 3,577.7 11,126.2
Other Exports 839.9 986.9 1,232.2 1,511.6 1,212.5 1,413.6 3,834.8
Travel & Tourism Demand 7,018.8 8,803.1 12,332.8 15,063.5 11,314.8 12,267.1 30,453.3
Travel & Tourism Direct Industry
Employment ('000) 262.0 267.8 270.9 276.9 272.9 267.1 346.5
Gross Domestic Product 1,826.6 2,281.4 3,155.8 3,762.5 3,072.8 3,404.5 9,364.8
Travel & Tourism Economy
Employment ('000) 484.2 506.5 541.3 582.0 544.3 518.6 670.1
Gross Domestic Product 4,633.9 5,874.0 8,551.0 10,642.4 8,288.8 9,005.9 22,825.7
Travel & Tourism
2000 Constant US$ mn 2005 2006 2007 2008 2009E 2010F 2020F
Personal Travel & Tourism 1,496.8 1,579.7 1,608.4 1,697.3 1,482.5 1,392.8 2,093.1
Business Travel & Tourism 232.2 251.0 279.6 306.0 255.4 237.3 379.4
Government Expenditures - Individual 25.1 25.6 26.2 28.7 27.4 26.0 36.3
Visitor Exports 429.8 486.1 526.9 590.7 523.4 492.8 1,185.0
Travel & Tourism Consumption 2,183.9 2,342.4 2,441.1 2,622.7 2,288.7 2,148.9 3,693.8
Government Expenditures - Collective 130.1 132.3 135.8 148.7 141.9 134.5 188.0
Capital Investment 824.2 967.8 1,267.3 1,522.4 1,209.0 1,122.8 2,787.8
Other Exports 426.6 434.7 426.7 478.9 436.8 443.6 960.8
Travel & Tourism Demand 3,564.7 3,877.1 4,271.0 4,772.7 4,076.4 3,849.8 7,630.4
Gross Domestic Product
Travel & Tourism Industry 927.7 1,004.8 1,092.9 1,192.1 1,107.0 1,068.4 2,346.5
Travel & Tourism Economy 2,353 2,587.0 2,961.3 3,372.0 2,986.2 2,826.3 5,719.3E - Estimate; F - Forecast
Methodological Note
The RMFs Tourism Direct Gross Domestic Product (TDGDP) measure is broadly equivalent to the Travel & Tourism Direct Industry measures
Executive Summary and in the accompanying 181 individual country reports, is based on simulated Tourism Satellite Accounting (TSA)
plus investment and collective government and non-visitor export spending, one arrives at the broadest measure of the economic impact of
Travel & Tourism Travel & Tourism Economy GDP.
given by WTTC/Oxford Economics. Adding to this direct industry measure the value-added created indirectly in the industry's supply chain,
This comprehensive and comparative measure of the economic impact of Travel & Tourism developed by WTTC, which is highlighted in the
methodology. The methodology is analogous to that used for the production of national income accounts, following the key concepts of
Tourism Satellite Accounting contained in the latest (2008) United Nations' Recommended Methodological Framework(RMF).
Recent years have provided a clear demonstration of the complex environment in which Travel & Tourism operates, confirming the critical
explains why the economic impact research developed by WTTC and its partner Oxford Economics, which was designed to adapt to the changing
needs of the Travel & Tourism industry and government leaders in the light of the fast-changing operating environment, is therefore an
essential tool whether for private- or public-sector decision-makers.
importance of timely information for policy- and decision-makers. And future developments will no doubt serve to reinforce this argument. This
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RANKING AND RANGE
Year 2010 country rankings for Romania within world countries' list
2010 2020
Romania Absolute Size Relative Size Growth1
Absolute Size Relative Size Growth2
Personal Travel & Tourism 54 149 175 57 141 112
Business Travel 66 --- 173 64 --- 58
Government Expenditures 57 69 176 61 69 118
Capital Investment 46 134 158 33 133 6
Visitor Exports 74 154 160 64 144 8
Other Exports 57 80 114 53 81 28
Travel & Tourism Demand 62 --- 178 58 --- 15
Direct Industry GDP 54 125 159 45 110 6
T&T Economy GDP 59 155 171 53 135 11
Direct Industry Employment 41 77 119 40 69 76
T&T Economy Employment 50 125 157 51 100 76
12010 real growth adjusted for inflation (%); 22011-2020 annualised real growth adjusted for inflation (%)
Total 181 countries or 13 regions (largest/highest/best is number 1; smallest/lowest/worst is number 181 or 13; 0 is aggregate region no ranking
GENERAL MACROECONOMIC INDICATORSThe following charts illustrate how Travel & Tourism growth follows or varies from general macroeconomic growthfor various indicators. The bottom three charts illustrate information related to international visitor arrivals.
T&T Eco no my GDP Total GDP T&T Emp lo yment Total Emp lo ymen t T&T Exp or ts Total Expo rts
T&T Personal Total Personal T&T Government Total Government
Consumption Consumption T&T Capital Investment Total Capital Investment Expenditure Expenditure
International Visitor Average Spend (US$)Visitor Markets Index (1988=100) International Visitor Arrivals ('000)
ROMANIA ROMANIA
ROMANIA ROMANIA ROMANIA
Government Expenditure (US$mn)
ROMANIA
Gross Domestic Product (US$mn)
ROMANIA
Employment ('000 of jobs)
TR
AVEL&TOUR
ISMSATELLIT
EACCOUNT
ROMANIA
Exports (US$mn)
ROMANIA
Personal Consumption (US$mn) Capital Investment (US$mn)
0
5000
10000
15000
20000
25000
1988199219962000 20042008201220162020
0
50000
100000
150000
200000
250000
300000
350000
400000
0
100
200
300
400
500
600
700
800
1988 1992 1996 2000 2004 2008 2012 2016 2020
0
2000
4000
6000
8000
10000
12000
0
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
1988 1992 1996 2000 2004 2008 2012 2016 2020
0
20000
40000
60000
80000
100000
120000
140000
160000
180000
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
1988 1992 1996 2000 2004 2008201220162020
0
20000
40000
60000
80000
100000
120000
140000
160000
180000
200000
0
2000
4000
6000
8000
10000
12000
198819921996 200020042008 201220162020
0
20000
40000
60000
80000
100000
120000
140000
160000
0
100
200
300
400
500
600
700
800
900
1000
1988 1992 1996 2000 2004 2008 2012 2016 2020
0
5000
10000
15000
20000
25000
0
20
40
60
80
100
120
140
160
180
1988 1992 1996 2000 2004 2008 2012 2016 2020
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
10000
1988 1992 1996 2000 2004 2008 2012 2016 2020
0
50
100
150
200
250
300
350
1988 1992 1996 2000 2004 2008 2012 2016 2020
12
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2010
WTTC CONTACTS
Jean-Claude Baumgarten
President & CEO
Uf Ibrahim
Chie Operations Ofcer
Eva Aimable
Policy Analyst
Sarieu Caramba-CokerOfce Manager
Nancy Cockerell
Adviser, Policy and Research
Anja Eckervogt
Communications Co-ordinator
Susann Kruegel
Manager, e-Strategy and
Tourism or Tomorrow Awards
Jason Norman
Director, Finance & Company Secretary
Alison Osborne
Manager, Council Membership
Pamela PriestExecutive Assistant
Paulina Tomczyk
Membership Assistant
Zheng Yan
China Marketing Representative
WTTC India Initiative
2010 World Travel & Tourism Council
The World Travel & Tourism Council is the forum for
business leaders in the Travel & Tourism industry.
With the Chairs and Chief Executives of the 100 foremost Travel &
Tourism companies as its Members, WTTC has a unique mandate and
overview on all matters related to Travel & Tourism.
WTTC works to raise awareness of Travel & Tourism as one of the worlds
largest industries, employing over 235 million people and generating
9.4% of global GDP in 2009.
Together with its research partner, Oxford Economics, WTTC produces
comprehensive reports on an annual basis with updates whenever
required to quantify, compare and forecast the economic impact of
Travel & Tourism on 181 economies around the world. It also publishes
an Executive Summary highlighting global trends. To download one-page
summaries, the full reports or spreadsheets, visit www.wttc.org
Assisting WTTC to provide tools for analysis, benchmarking,
forecasting and planning
Over the last 25 years Oxford Economics has built a diverse and loyal
client base of over 300 organisations worldwide, including internationalorganisations, governments, central banks, and both large and small
businesses. Headquartered in Oxford, England, with ofces in London,
Belfast, Paris, the UAE, Singapore, Philadelphia and New York, Oxford
Economics employs over 70 full-time, highly qualied economists and
data specialists, while maintaining links with a network of economists in
universities worldwide.
For more information please take advantage of a free tr ial on our website,
www.oxfordeconomics.com, or contact John Gaster, Oxford Economics,
Abbey House, 121 St Aldates, Oxford, OX1 1HB, UK.
Tel: +44 (0) 1865 268900; email: [email protected]
8/8/2019 wt&tc romania 2010
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SoVereign
court
London e1W 3Ha, uK
teL: +44 (0) 20 7481 8007Fax: +44 (0) 20 7488 1008emaiL: [email protected]
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