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TRAVEL & TOURISMECONOMIC IMPACTPeru
201
0
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CHAIRMAN:
Geoffrey J W Kent
Chairman & CEO
Abercrombie & Kent
Tom Klein
Group President
Sabre Travel Network &
Sabre Airline
Executive Vice President
Sabre Holdings
Gerald Lawless
Executive Chairman
Jumeirah Group
J W Marriott, Jr
Chairman & CEO
Marriott International, Inc
Alan Parker CBE
Chief Executive
Whitbread plc
Gilles Plisson
CEO
Accor
Charles Petruccelli
President Global Travel Services
American Express Company
Christopher Rodrigues CBE
Chairman
VisitBritain
Jeffrey C Rutledge
Chairman & CEO
Travel Guard Worldwide, Inc
Jyotsna Suri
Chairperson & Managing Director
Bharat Hotels Ltd
Jonathan M Tisch
Chairman & CEO
Loews Hotels
Jim Compton
Executive Vice President, Marketing
Continental Airlines
Tony Fernandes
Group Chief Executive Officer
AirAsia
Frank Fiskers
President & CEOScandic Hotels
Mark P Frissora
Chairman and CEO
The Hertz Corporation
Naresh Goyal
Chairman
Jet Airways India Ltd
Arthur de Haast
Global Chief Executive Officer
Jones Lang LaSalle Hotels
James Hogan
CEO
Etihad Airways
Raimund Hosch
President & CEO
Messe Berlin GmbH
Miltos Kambourides
Managing Partner
Dolphin Capital Partners
Gary L Kessler
President & CEO
Carey International Inc
Dara Khosrowshahi
President & CEO
Expedia Inc
Sir Nigel Knowles
Joint CEODLA Piper
Ali Kolaghassi
Vice Chairman & CEO
Saraya Holdings
RK Krishna Kumar
Vice Chairman
Taj Hotels, Resorts & Palaces
Jabu Mabuza
CEO
Tsogo Sun Group
Luis Maroto
Deputy CEO
Amadeus IT Group SA
Yunxin Mei
President
Beijing Tourism Group
Richard Mortimore
Managing Director
Reed Travel Exhibitions
Geoff Muirhead CBE
Group Chief Executive
The Manchester Airports Group
Hamza Mustafa
CEO
Istithmar Hospitality & Real
Estate Business
Christopher J NassettaPresident & CEO
Hilton Worldwide
Jerry Noonan
Consultant
Spencer Stuart
Deepak Ohri
Chief Executive Officer
lebua Hotels & Resorts Co, Ltd
Frits D van Paasschen
President & CEO
Starwood Hotels & Resorts
Worldwide Inc
Andy PayneManaging Director
Wilderness Safaris
Jean Gabriel Prs
President & CEO
Mvenpick Hotels & Resorts
Dionsio Pestana
Chairman
Group Pestana
Fernando Pinto
CEO
TAP Portugal
Bob Puccini
CEO
The Puccini Group
David Radcliffe
Chief Executive
Hogg Robinson Group
Jay Rasulo
Chairman
Walt Disney Parks and Resorts
Marty Salfen
General Manager
Global Travel &
Transportation Industry
IBM
Per Setterberg
CEO
Global Refund Group
Jasminder Singh
Chairman & CEO
Radisson Edwardian Hotels
Jeff Smisek
Chairman, President & CEO
Continental Airlines
Khalid A bin Sulayem
Director General
Dubai Department of Tourism and
Commerce Marketing
Hiromi Tagawa
President & CEO
JTB Corp
Yassin K Talhouni
CEO
Zara Investment Holding Co Ltd
Jaume Tpies
President
Relais & Chteaux
Robin Tauck
President
R Tauck & Partners LLC
Matthew D Upchurch
CEO
Virtuoso
Michel Vauclair
Senior Vice President
Global Asset Management
Oxford Properties Group
Philip Wolf
President & CEO
PhoCusWright, Inc
Valdimir Yakushev
Managing Partner
S-Group Capital Management
Tim Zagat
Co-Founder, Co-Chair & CEO
Zagat Survey LLC
VICE CHAIRMEN:
Edouard Ettedgui
Group Chief Executive
Mandarin Oriental Hotel Group
Maurice Flanagan CBE
Executive Vice Chairman
Emirates Airline & Group
Michael Frenzel
Chairman of the Executive Board
TUI AG
Mark Harms
Chairman & CEO
Global Leisure Partners LLP
Stephen P Holmes
Chairman, President & CEO
Wyndham Worldwide
Manfredi Lefebvre DOvidio
Chairman
Silversea Cruises
Brett Tollman
President
The Travel Corporation
HONORARY MEMBERS:
Andr Jordan
Chairman
Andr Jordan Group
Jonathan S Linen
Adviser to the Chairman
American Express Company
Lord Marshall of Knightsbridge
Chairman
Pirelli UK plc
Sir Frank Moore, AO
Chairman
FT Moore P/L
Frank Olson
Retired Chairman of the Board
The Hertz Corporation
Grard Plisson
Co-Chairman, Supervisory Board
Accor
Carl Ruderman
Chairman
Universal Media
Tommaso Zanzotto
President
TZ Associates LtdEXECUTIVE COMMITTEE:
Marilyn Carlson Nelson
Chairman
Carlson
Alex Christou
Managing Partner
Accenture
Jeff Clarke
President & CEO
Travelport
Andrew Cosslett
CEO
InterContinental Hotels
Group PLC
Qiang Duan
Chairman
Beijing Tourism Group
Sebastin Escarrer
Vice Chairman & CEO
Sol Meli
Manuel Fernando Esprito Santo
Chairman
Esprito Santo Tourism
Edward P Gilligan
Vice Chairman
American Express Company
Pansy Ho
Managing Director
Shun Tak Holdings Limited
Hubert JolyPresident & CEO
Carlson
Richard R Kelley
Chairman
Outrigger Enterprises Group
GLOBAL MEMBERS:
Talal Al Bahar
Chairman & Managing Director
IFA Hotels & Resorts
Mohammed Al Habbai
CEO
Dubailand
Ted J Balestreri
Chairman & CEO
Cannery Row Company
Fabio Barbosa
CEO
Grupo Santander Brazil
Simn P Barcel
Chairman & CEO
Barcel Hotels & Resorts
Raymond Bickson
Managing Director
Taj Hotels, Resorts and Palaces
Giorgio Boscolo
CEO
Boscolo Group
Rattawadee Bualert
President
lebua Hotels & Resorts Co, Ltd
Gabriele Burgio
President & CEONH Hoteles
Chris J Cahill
COO
Fairmont Raffles Hotels
International
CHAIRMAN EMERITUS:
James D Robinson III
General Partner
RRE Ventures
WTTC Chairman (1990-1994)
IMMEDIATE PAST CHAIRMAN:
Vincent A Wolfington
Chairman
Global Alliance Advisors LLC
WTTC Chairman (2004-2007)
FORMER CHAIRMEN:
Sir Ian Prosser
Retired Chairman
InterContinental Hotels
Group PLC
WTTC Chairman (2001-2003)
Harvey Golub
Non-Executive Chairman
AIG Inc
WTTC Chairman (1996-2001)
Robert H Burns
Chairman
Robert H Burns Holdings Limited
WTTC Chairman (1994-1996)
PRESIDENT & CEO:
Jean-Claude Baumgarten
9 February 2010
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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 full Tourism Satellite Accounts (TSAs) take considerable time and resources todevelop,WTTC produces simulated TSAs on an annual basis, covering 181 countries, in order toprovidereliable and comparable information to assess Travel & Tourisms current and likelyfuturecontribution to economic activity and employment. Timeliness is one of the mainstrengths ofour research. In the critical post-crisis recovery phase currently underway, it can informand helpdrive urgent policy-making and investmentdecisions.
Our 2010 research, again produced in co-operation with Oxford Economics, assesses the economicimpact ofTravel & Tourism for the 181 countries, as well as for the world overall. It measures spending on Travel& Tourismby households, businesses, governments, overnight and same-day visitors, in order to capture fully theeconomiccontribution of both domestic and international tourism, thereby quantifying Travel & Tourismscontribution togross domestic product (GDP) and employment.
In line with the trend in other sectors in 2009, Travel & Tourism activity was hit hard by the credit andhousingmarket collapses experienced in many countries, with households cutting back on leisure travel andcorporationsreducing business travel budgets.The impact on Travel & Tourism investment was also significant.Yeteven thoughTravel & Tourism activity was so depressed, it still employed over 235 million people across the worldlast year,generating 9.4% of global GDP.
Although there are signs that the global economy has moved into a recovery phase, we are expectingthe pick-upin developed economies a key source of Travel & Tourism Demand in the short term to be gradual,with bothcorporations and households continuing to reconsider travel plans and to limitexpenditure.Nevertheless, despite the current blip in growth trends, our research confirms that prospects for the
longer termremain positive. Over the next ten years, Travel & Tourism will continue to grow in importance as one oftheworlds highest-priority sectors and employers.
Emerging economies will of course be the main engines of our forecast growth, both in terms ofdomestic andinternational Travel & Tourism. But an increasing focus on leisure in developed economies shouldstimulatetravel demand, even in mature markets, boosted by industry innovation in creating new sustainableproducts andservices.
In anticipation of these better times ahead, we are delighted to present you with the 2010 ExecutiveSummaryof 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
THE ECONOMIC IMPACT OF TRAVEL & TOURISM
Key Facts at a Glance
Summary Economic Impact and Real Growth
Summary Tables
Concepts & Structure
Travel & Tourism Satellite Account
Gross Domestic Product
Employment
Satellite Account Tables
Ranking and Range
General Macroeconomic Indicators
3
4
6
7
8
9
10
12
12
USE OF MATERIAL IS AUTHORISED, PROVIDED SOURCE IS ACKNOWLEDGED
2
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.org
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PERU
KEY FACTS AT A GLANCE
2010 TRAVEL & TOURISM ECONOMIC RESEARCH
2010
Gross Domestic Product (GDP)
10-year
trend
The contribution of Travel & Tourism to Gross Domestic Product (GDP) is
expected to rise from 7.4% (PEN30.8bn or US$9,819.1mn) in 2010 to 8.0%
(PEN67.2bn or US$17,956.6mn) by 2020.
7.4%
Growth
-0.6%
6.8%
Real GDP growth for the Travel & Tourism Economy is expected to be -0.6% in
2010 and to average 5.3% per annum over the coming 10 years.
Employment
The contribution of the Travel & Tourism Economy to employment is expected to
rise from 6.8% of total employment, 911,000 jobs or 1 in every 14.7 jobs in 2010, to
7.4% of total employment, 1,224,000 jobs, or 1 in every 13.5 jobs by 2020.
Visitor Exports
7.9% Export earnings from international visitors are expected to generate 7.9% oftotalexports (PEN7.9bn or US$2,523.0mn) in 2010, growing (nominal terms) to
PEN21.4bn or US$5,721.9mn (9.0% of total) in 2020.
Investment
9.3% Travel & Tourism investment is estimated at PEN9.9bn, US$3,155.9mn or 9.3% oftotal investment in 2010. By 2020, this should reach PEN20.0bn, US$5,336.9mn
or 9.7% of total investment.
World ranking (out of 181 countries)
54
ABSOLUTEsize
113
RELATIVEcontribution to national economy
67
GROWTHforecast
Ranking in Latin America (out of 20 countries)
5
ABSOLUTEsize
PERU
Travel & Tourism Gross Domestic Product
(2000 constant US$mn)
12
10
8
10
RELATIVEcontribution to national economy
PERU
5
GROWTHforecast
Travel & Tourism Employment
('000 jobs)
1,400
1,200
1,000
800
6600
4
2
0
2005 2006 2007 2008 2009 2010 2015 2020
400
200
0
2005 2006 2007 2008 2009 2010 2015 2020
Direct Industry T&T Economy as a whole Direct Industry T&T Economy as a whole
2010 World Travel & Tourism Council
1-2 QUEEN VICTORIA TERRACE, SOVEREIGN COURT, LONDON E1W 3HA, UK
TEL: +44 (0) 20 7481 8007 . FAX: +44 (0) 20 7488 1008 . [email protected] . www.wttc.org
3
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ECONOMIC IMPACTIN 2010 PERU'S TRAVEL & TOURISM IS EXPECTED TO GENERATE PEN31BN
(US$9,819MN) OF ECONOMIC ACTIVITY (GDP). THE INDUSTRY'S DIRECT
IMPACT INCLUDES:
Direct Industry GDP
PEN
Direct Industry Employment
bn12(US$3,756mn)
equivalent to 2.8% of total GDP
364,000jobs, representing 2.7%
of total employment
HOWEVER, SINCE TRAVEL & TOURISM TOUCHES ALL SECTORS OF THE
ECONOMY, ITS REAL IMPACT IS EVEN GREATER. PERU'S TRAVEL &
TOURISM ECONOMY DIRECTLY AND INDIRECTLY ACCOUNTS FOR:
Economy GDP
PEN
Economy Employment
bn31(US$9,819mn)
equivalent to 7.4% of total GDP
911,000jobs, representing 6.8%
of total employment
Exports, Services & Merchandise
PEN
Capital Investment
bn PEN9(US$2,798mn)
equivalent to 8.8% of total exports
10(US$3,156mn)
equivalent to 9.3% of total investment
bn
Government Expenditure
PEN 1(US$308mn)
equivalent to a 2.7% share
bn
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REAL GROWTHIN 2010, TRAVEL & TOURISM IN PERU IS FORECAST TO SEE REAL
DECLINE/GROWTH OF:
Direct Industry GDP Direct Industry Employment
1.7
Economy GDP
% -0.7
to 364,000 jobs
%
to PEN12bn (US$3,756mn)
Economy Employment
-0.6 % -2.7to 911,000 jobs
%
to PEN31bn (US$9,819mn)
OVER THE NEXT TEN YEARS, PERU'S TRAVEL & TOURISM IS EXPECTED
TO ACHIEVE ANNUALISED REAL GROWTH OF:
Direct Industry GDP Direct Industry Employment
5.7
Economy GDP
% 3.3
3.0
7.6
5.1
%
to PEN27bn (US$7,125mn) in 2020 to 506,028 jobs in 2020
Economy Employment
5.3
5.7
4.5
% %
to PEN67bn (US$17,957mn) in 2020 to 1,224,000 jobs in 2020
Demand - Travel & Tourism Visitor Exports - Travel & Tourism
% %
to PEN90bn (US$23,913mn) in 2020 to PEN21,429bn (US$5,722mn) in 2020
Capital Investment - Travel & Tourism Government Expenditure - Travel & Tourism
% %
to PEN19,987bn (US$5,337mn) in 2020 to PEN2,068bn (US$552mn) in 2020
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SUMMARY TABLES
ESTIMATES AND FORECASTS
2010
PERU
Personal Travel & Tourism
Business Travel
Government Expenditures
Capital Investment
Visitor Exports
Other Exports
T&T Demand
Direct Industry GDP
T&T Economy GDP
Direct Industry Employment
T&T Economy Employment
1
2020
Growth
4.8
-2.3
2.2
-5.4
5.9
11.0
1.3
1.7
-0.6
-0.7
-2.7
1PENbn
14.4
5.6
1.0
9.9
7.9
0.9
39.7
11.8
30.8
3
% of total
5.5
1.4
2.7
9.3
7.9
0.9
7.9
2.8
7.4
2.7
6.8
PENbn
32.0
12.1
2.1
20.0
21.4
1.9
89.6
26.7
67.2
506.0
1,223.8
% of total
6.1
1.4
2.8
9.7
9.0
0.8
8.5
3.2
8.0
3.1
7.4
Growth2
5.5
5.2
5.1
4.5
7.6
5.6
5.7
5.7
5.3
3.3
3.0
364.2
910.53
2010 real growth adjusted for inflation (%); 22011-2020 annualised real growth adjusted for inflation (%); 3'000 jobs
2010
LATIN AMERICA
Personal Travel & Tourism
Business Travel
Government Expenditures
Capital Investment
Visitor Exports
Other Exports
T&T Demand
Direct Industry GDP
T&T Economy GDP
Direct Industry Employment3
2020
Growth
2.3
0.0
2.9
0.8
1.9
12.1
2.4
0.4
1.4
0.2
0.5
1US$bn
106.9
39.0
16.8
48.3
29.3
20.9
261.2
75.3
200.2
4,617.2
11,814.2
% of total
5.3
1.2
2.9
7.6
5.3
3.8
7.0
2.3
6.2
2.4
6.0
US$bn
188.0
67.4
25.1
110.7
65.5
44.1
500.9
125.6
361.5
6,108.0
16,335.6
% of total
5.9
1.3
3.0
9.4
5.2
3.5
7.8
2.4
7.0
2.5
6.7
Growth2
5.2
4.5
3.4
7.4
7.2
6.0
5.8
4.5
5.1
2.8
3.3T&T Economy Employment3
12010 real growth adjusted for inflation (%); 22011-2020 annualised real growth adjusted for inflation (%); 3'000 jobs
2010
WORLDWIDE
Personal Travel & Tourism
Business Travel
Government Expenditures
Capital Investment
Visitor Exports
Other Exports
T&T Demand
Direct Industry GDP
T&T Economy GDP
Direct Industry Employment3
2020
Growth
1.6
-1.8
2.6
-1.7
0.9
5.9
1.1
0.7
0.5
-0.1
-0.3
1US$bn
3,111
819
436
1,241
1,086
850
7,543
1,986
5,751
81,913
235,758
% of total
8.4
1.3
3.8
9.2
6.1
4.8
9.4
3.2
9.2
2.8
8.1
US$bn
5,793
1,589
744
2,757
2,160
1,908
14,950
3,650
11,151
104,740
303,019
% of total
8.8
1.4
4.0
9.4
5.2
4.5
9.5
3.2
9.6
3.2
9.2
Growth2
4.1
4.3
3.1
5.3
5.2
6.5
4.7
4.0
4.4
2.5
2.5T&T Economy Employment3
12010 real growth adjusted for inflation (%); 22011-2020 annualised real growth adjusted for inflation (%); 3'000 jobs
6
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In order to quantify the economic impact of Travel & Tourism, we use the framework of a Tourism SatelliteAccount(TSA). Our estimates are based on demand-side analysis of Travel & Tourism's impact on economic activity,sincethe sector does not produce or supply a homogeneous product or service like traditional industries (agriculture,electronics,steel, etc).
CONCEPTS & STRUCTURE
PERU
Peru's
Travel & Tourism Demand of
PEN39.7bn in 2010
Travel & Tourism Demand in 2010
less imported goods and services
(including Travel & Tourism
spending abroad) of PEN8.9bn...
Personal T&T - 36.36%
Gov't Expenditures - 2.43%
Visitor Exports - 19.94%
Business T&T - 14.14%
Capital Investment - 24.95%
Other Exports - 2.18%
...equalsTravel & Tourism Economy
GDP of PEN30.8bn...
PERU
Travel & Tourism Economy GDP in 2010
Direct industry GDP T&T Economy GDP
PERU
...and supports 911,000 jobs
across Peru
Travel & Tourism Employment in 2010
Direct industry Employment T&T Economy Employment
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GROSS DOMESTIC PRODUCT
Peru's T&T Direct Industry is expected to contribute 2.8% to Gross Domestic Product (GDP) in 2010 (PEN11.8bn or
US$3,755.8mn), rising in nominal terms to PEN26.7bn or US$7,125.1mn (3.2% of total) by 2020. The T&T Economy
contribution (% of total) should rise from 7.4% (PEN30.8bn or US$9,819.1mn) to 8.0% (PEN67.2bn orUS$17,956.6mn)in this same period.
TRAVEL &
TOURISMSATELLITE
ACCOUNT
PERUTravel & Tourism Gross Domestic Product
(2000 constant US$mn)
7
6
PERUTravel & Tourism Economy GDP
(real growth, %)
20
15
10
5
0
-5
2005 2006 2007 2008 2009 2010
COUNTRY5
4
3
2
1
0
-10
1990 1995 2000 2005 2010 2015 2020
Direct Industry GDP T&T Economy GDP
LATIN AMERICATravel & Tourism Gross Domestic Product
(2000 constant US$bn)
140
120
20
10
0
-1060
40
20
0
2005 2006 2007 2008 2009 2010
-20
-30
-40
1990
PERU v REGIONTravel & Tourism Economy GDP
(real growth variance, %)
REGION 100
80
1995 2000 2005 2010 2015 2020
Direct Industry GDP T&T Economy GDP
WORLDWIDETravel & Tourism Gross Domestic Product
(2000 constant US$bn)
4,500
4,000
3,500
15
10
5
0
-5
-10
-15
2005 2006 2007 2008 2009 2010 1990
PERU v WORLDWIDETravel & Tourism Economy GDP
(real growth variance, %)
WORLD 3,000
2,500
2,000
1,500
1,000500
0
1995 2000 2005 2010 2015 2020
Direct Industry GDP
WTTC League Table Extract
Travel & Tourism Economy GDP
1
2
3
4
5
6
7
8
9
10
52
103
105
107
113
117
123
143
146
178
Mexico
Ecuador
Guatemala
Uruguay
Peru
Argentina
Venezuela
Brazil
Paraguay
Chile
T&T Economy GDP
2010
% of total GDP
12.7
7.7
7.7
7.6
7.4
7.3
7.1
5.9
5.7
3.4
WTTC League Table Extract
Travel & Tourism Economy GDP
51
58
67
68
73
83
116
121
129
138
Uruguay
Brazil
Peru
Chile
Mexico
Argentina
Ecuador
Guatemala
Paraguay
Venezuela
10-Yr Real Growth
Annualised, %
5.7
5.6
5.3
5.3
5.1
5.0
4.4
4.2
4.1
3.8
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EMPLOYMENT
Peru's 364,000 T&T Direct Industry jobs account for 2.7% of total employment in 2010 and are forecast to total506,000jobs or 3.1% of the total by 2020.The contribution of the Travel & Tourism Economy to employment is expected torisefrom 6.8% of total employment, 911,000 jobs or 1 in every 14.7 jobs in 2010, to 7.4% of total employment,1,224,000
jobs, or 1 in every 13.5 jobs by 2020.
PERUTravel & Tourism Employment
('000 Jobs)
1,000
900
700
600
500
400
300
200
100
02005 2006 2007 2008 2009 2010
-5
0
5
10
800
20
PERUTravel & Tourism Economy Employment
(real growth, %)
1990 1995 2000 2005 2010 2015 2020
Direct Industry jobs T&T Economy jobs
LATIN AMERICATravel & Tourism Employment
('000 Jobs)
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
2005 2006 2007 2008 2009 2010
20
15
PERU v REGIONTravel & Tourism Economy Employment
(real growth variance, %)
5
0
-5
-10
-15
1990 1995 2000 2005 2010 2015 2020
Direct Industry jobs T&T Economy jobs
WORLDWIDETravel & Tourism Employment
('000 Jobs)
300,000
250,000
200,000
150,000
100,000
50,000
0
2005 2006 2007 2008 2009 2010
20
15
10
5
0
-5
-10
PERU v WORLDWIDETravel & Tourism Economy Employment
(real growth variance, %)
1990 1995 2000 2005 2010 2015 2020
Direct Industry jobs
WTTC League Table Extract
Travel & Tourism Economy Employment
44
88
93
110
114
115
131
132
147
171
Mexico
Argentina
Uruguay
Peru
Guatemala
Ecuador
Brazil
Venezuela
Paraguay
Chile
T&T Economy jobs
2010
% of total emp
13.7
8.6
8.2
6.8
6.6
6.6
5.6
5.6
5.0
3.6
WTTC League Table Extract
Travel & Tourism Economy Employment
10
21
46
47
52
68
69
114
118
120
Guatemala
Brazil
Peru
Paraguay
Argentina
Uruguay
Ecuador
Venezuela
Mexico
Chile
10-Yr Real Growth
Annualised, %
4.5
3.9
3.0
3.0
2.9
2.7
2.6
2.0
1.9
1.9
WORLD
REGION10
COUNTRY15
TRAVEL &
TOURISMSATELLITE
ACCOUNT
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SATELLITE ACCOUNT TABLESPERU
Travel & Tourism - PENbn
Personal Travel & Tourism
Business Travel & Tourism
Corporate
Government
Government Expenditures - Individual
Visitor Exports
Travel & Tourism Consumption
Government Expenditures - Collective
Capital Investment
Other Exports
Travel & Tourism Demand
Travel & Tourism Direct Industry
Employment ('000)
Gross Domestic Product
Travel & Tourism Economy
Employment ('000)
Gross Domestic Product
821.0
18.9
846.5
21.7
899.2
25.0
910.7
28.7
936.1
30.2
910.5
30.8
1,223.8
67.2
349.1
7.7
352.7
8.7
369.3
9.8
354.4
10.7
367.0
11.3
364.2
11.8
506.0
26.7
2005
9.8
3.9
3.6
0.3
0.2
4.7
18.7
0.5
4.9
0.6
24.6
2006
10.5
4.4
4.0
0.3
0.2
5.8
21.0
0.5
6.1
0.7
28.3
2007
11.8
5.0
4.7
0.4
0.2
7.0
24.1
0.6
7.5
0.8
32.9
2008
13.2
5.8
5.4
0.4
0.3
7.0
26.2
0.6
10.2
0.9
38.0
2009E
13.4
5.6
5.2
0.4
0.3
7.3
26.6
0.6
10.2
0.8
38.2
2010F
14.4
5.6
5.3
0.4
0.3
7.9
28.3
0.7
9.9
0.9
39.7
2020F
32.0
12.1
11.2
0.9
0.6
21.4
66.2
1.4
20.0
1.9
89.6
Travel & Tourism Accounts
as % of National Accounts
Personal Travel & Tourism
Government Expenditures
Capital Investment
Visitor & Other Exports
Travel &Tourism Imports
Travel & Tourism Direct Industry
Employment
Gross Domestic Product
Travel & Tourism Economy
Employment
Gross Domestic Product
Travel & Tourism Real Growth
(per annum except 2020 =
10-year annualised)
Personal Travel & Tourism
Business Travel & Tourism
Government Expenditures
Capital Investment
Visitor Exports
Other Exports
Travel & Tourism Consumption
Travel & Tourism Demand
Travel & Tourism Direct Industry
Employment
Gross Domestic Product
Travel & Tourism Economy
EmploymentGross Domestic Product
2005
5.7
2.7
10.2
8.3
11.5
2006
5.6
2.7
10.4
7.5
11.0
2007
5.7
2.7
10.2
7.9
10.5
2008
5.5
2.7
10.3
7.7
9.3
2009E
5.5
2.7
10.0
9.1
10.6
2010F
5.5
2.7
9.3
8.8
9.8
2020F
6.1
2.8
9.7
9.8
10.2
2.8
3.0
2.8
2.9
2.8
2.9
2.7
2.9
2.8
2.9
2.7
2.8
3.1
3.2
6.7
7
6.6
7.2
6.8
7.4
7.0
7.7
7.2
7.8
6.8
7.4
7.4
8.0
2005
3.9
8.7
8.0
7.0
9.1
10.5
6.2
6.5
2006
0.7
3.6
2.9
16.9
15.2
8.9
5.0
7.4
2007
9.8
12.9
4.6
20.3
16.5
6.0
12.2
13.7
2008
10.1
13.4
9.1
35.0
-0.3
16.7
7.8
14.2
2009E
-0.8
-5.8
-1.2
-3.0
1.0
-18.6
-1.4
-2.2
2010F
4.8
-2.3
2.2
-5.4
5.9
11.0
3.6
1.3
2020F
5.5
5.2
5.1
4.5
7.6
5.6
6.1
5.7
0.3
4.3
1.0
5.2
4.7
10.9
-4.0
7.0
3.5
3.1
-0.7
1.7
3.3
5.7
0.64.7
3.17.6
6.212.7
1.313.5
2.82.3
-2.7-0.6
3.05.3
E - Estimate; F - Forecast
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SATELLITE ACCOUNT TABLESPERU
Travel & Tourism - US$ mn
Personal Travel & Tourism
Business Travel & Tourism
Corporate
Government
Government Expenditures - Individual
Visitor Exports
Travel & Tourism Consumption
Government Expenditures - Collective
Capital Investment
Other Exports
Travel & Tourism Demand
Travel & Tourism Direct Industry
Employment ('000)
Gross Domestic Product
Travel & Tourism Economy
Employment ('000)
Gross Domestic Product
821.0
5,727.0
846.5
6,630.2
899.2
7,993.8
910.7
9,815.1
936.1
10,034.2
910.5
9,819.1
1,223.8
17,956.6
349.1
2,343.7
352.7
2,653.0
369.3
3,148.3
354.4
3,642.2
367.0
3,753.6
364.2
3,755.8
506.0
7,125.1
2005
2,966.7
1,195.1
1,102.9
92.2
64.3
1,438.0
5,664.1
147.4
1,478.8
184.5
7,474.7
2006
3,216.0
1,332.2
1,234.2
98.0
71.1
1,782.0
6,401.4
163.2
1,859.9
216.2
8,640.6
2007
3,777.6
1,610.3
1,497.0
113.3
79.7
2,222.0
7,689.6
182.7
2,393.9
245.4
10,511.5
2008
4,496.7
1,975.1
1,843.7
131.4
94.1
2,396.0
8,961.9
215.6
3,493.7
309.7
12,980.9
2009E
4,460.6
1,859.5
1,741.0
118.5
92.9
2,420.1
8,833.1
212.9
3,389.4
252.0
12,687.4
2010F
4,599.5
1,788.7
1,676.7
112.0
93.4
2,523.0
9,004.6
214.2
3,155.9
275.5
12,650.1
2020F
8,555.9
3,230.5
3,003.4
227.1
167.7
5,721.9
17,676.0
384.5
5,336.9
515.6
23,913.0
Travel & Tourism
2000 Constant US$ mn
Personal Travel & Tourism
Business Travel & Tourism
Government Expenditures - Individual
Visitor Exports
Travel & Tourism Consumption
Government Expenditures - Collective
Capital Investment
Other Exports
Travel & Tourism Demand
Gross Domestic Product
Travel & Tourism Industry
Travel & Tourism Economy
2005
2,437.4
981.9
52.8
1,181.5
4,653.6
121.1
1,214.9
151.6
6,141.2
2006
2,455.3
1,017.1
54.3
1,360.5
4,887.3
124.6
1,420.0
165.1
6,597.0
2007
2,695.0
1,148.8
56.8
1,585.2
5,485.9
130.3
1,707.9
175.0
7,499.1
2008
2,966.6
1,303.1
62.1
1,580.7
5,912.5
142.2
2,304.9
204.3
8,564.0
2009E
2,943.6
1,227.1
61.3
1,597.0
5,829.0
140.5
2,236.7
166.3
8,372.5
2010F
3,083.7
1,199.2
62.6
1,691.5
6,037.1
143.6
2,115.9
184.7
8,481.3
2020F
5,278.0
1,992.8
103.5
3,529.7
10,904.0
237.2
3,292.3
318.1
14,751.5
1,925.6
4,705
2,025.5
5,062.0
2,246.1
5,703.0
2,402.9
6,475.3
2,477.1
6,621.6
2,518.1
6,583.2
4,395.4
11,077.1
E - Estimate; F - Forecast
Methodological Note
Recent years have provided a clear demonstration of the complex environment in which Travel & Tourism operates, confirming the critical
importance of timely information for policy- and decision-makers. And future developments will no doubt serve to reinforce this argument. This
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.
This comprehensive and comparative measure of the economic impact of Travel & Tourism developed by WTTC, which is highlighted in the
Executive Summary and in the accompanying 181 individual country reports, is based on simulated Tourism Satellite Accounting (TSA)
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).
The RMFs Tourism Direct Gross Domestic Product (TDGDP) measure is broadly equivalent to the Travel & Tourism Direct Industry measures
given by WTTC/Oxford Economics. Adding to this direct industry measure the value-added created indirectly in the industry's supply chain,
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.
11
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RANKING AND RANGE
Year 2010 country rankings for Peru within world countries' list
2010
Peru
Personal Travel & TourismBusiness Travel
Government Expenditures
Capital Investment
Visitor Exports
Other Exports
Travel & Tourism Demand
Direct Industry GDP
T&T Economy GDP
Direct Industry Employment
T&T Economy Employment
1 2
2020Growth 1
43110
106
138
24
32
68
66
104
94
127
Absolute Size
5048
73
52
62
86
59
52
54
35
36
Relative Size
105---
121
106
99
145
---
92
113
92
110
Absolute Size
5553
76
57
58
86
64
50
62
31
33
Relative Size
106---
121
106
91
142
---
87
108
89
104
Growth 2
5546
47
99
25
76
54
47
67
39
46
TRAVEL &
TOURISMSATELLITE
ACCOUNT
2010 real growth adjusted for inflation (%); 2011-2020 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 INDICATORS
The following charts illustrate how Travel & Tourism growth follows or varies from general macroeconomic growth
for various indicators. The bottom three charts illustrate information related to international visitorarrivals.
PERU
Gross Domestic Product (US$mn)
PERU
Employment ('000 of jobs)
PERU
Exports (US$mn)7000
6000
5000
4000
3000
2000
1000
20000
18000
16000
14000
12000
10000
8000
6000
4000
2000
250000
200000
150000
100000
50000
1400
1200
1000
800
600
400
200
18000
16000
14000
12000
10000
8000
6000
4000
2000
70000
60000
50000
40000
30000
20000
10000
00
1988 1992 1996 2000 2004 2008 2012 2016 2020
T&T Economy GDP Total GDP
00
1988 1992 1996 2000 2004 2008 2012 2016 2020
T&T Employment Total Employment
00
1988 1992 1996 2000 2004 2008 2012 2016 2020
T&T Exports Total Exports
PERU
9000
8000
7000
6000
5000
4000
3000
2000
1000
60000
40000
200001000
PERU
160000
140000
120000
100000
80000
4000
3000
2000
40000
30000
20000
10000
400
300
6000
5000
PERU
60000
50000
600
500
Personal Consumption (US$mn) Capital Investment (US$mn) Government Expenditure (US$mn) 25000
20000
15000
10000
200
100
0
5000
000
1988 1992 1996 2000 2004 2008 2012 2016 2020
T&T Personal
Consumption
Total Personal
Consumption
00
1988 1992 1996 2000 2004 2008 2012 2016 2020
T&T Capital Investment Total Capital Investment
1988 1992 1996 2000 2004 2008 2012 2016 2020
T&T Government Total Government
Expenditure Expenditure
PERU
350
300
250
200
150
100
50
01988 1992 1996 2000 2004 2008 2012 2016 2020
PERU
4500
4000
3500
3000
2500
2000
1500
1000
500
0
1988 1992 1996 2000 2004 2008 2012 2016 2020
PERU
International Visitor Average Spend (US$)1400
1200
1000
800
600
400
200
0
1988 1992 1996 2000 2004 2008 2012 2016 2020
Visitor Markets Index (1988=100) International Visitor Arrivals ('000)
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WTTC CONTACTS
Jean-Claude Baumgarten
President & CEO
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 theworldslargest 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 alsopublishesan Executive Summary highlighting global trends. To download one-pagesummaries, the full reports or spreadsheets, visitwww.wttc.org
Ufi Ibrahim
Chief Operations Officer
Eva Aimable
Policy Analyst
Sarieu Caramba-CokerOffice Manager
Nancy Cockerell
Adviser, Policy and Research
201
0
Susann Kruegel
Manager, e-Strategy and
Tourism for 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
Anja Eckervogt
Communications Co-ordinator
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, includinginternationalorganisations, governments, central banks, and both large and small
businesses. Headquartered in Oxford, England, with offices in London,
Belfast, Paris, the UAE, Singapore, Philadelphia and New York, Oxford
Economics employs over 70 full-time, highly qualified economists and
data specialists, while maintaining links with a network of economistsinuniversities worldwide.
For more information please take advantage of a free trial on ourwebsite,www.oxfordeconomics.com, or contact John Gaster, OxfordEconomics,Abbey House, 121 St Aldates, Oxford, OX1 1HB, UK.
Tel: +44 (0) 1865 268900; email:[email protected]
2010 World Travel & Tourism Council
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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.org