KUALA LUMPUR, March 29 ― It’s hard to imagine that less than a century ago, travelling between countries or going overseas was almost exclusive to the ultra-wealthy or extremes of society.
Going abroad used to be such a risky undertaking that you had to knowingly risk death and disease to get anywhere!
Fortunately for us, that’s no longer the case thanks to the rapid advancement of technology and transportation. It’s easier and more fun than ever to get out and explore different parts of the planet, whether it’s a simple outing to a state park or a business trip overseas.
Not only is it exciting for the traveller to get out and about, but wanderlust is also highly beneficial for the global economy. In 2014 alone, travel and tourism spurred US$7.6 trillion (RM30.39 trillion) worldwide and has no signs of slowing down.
Between business opportunities, job creation, and the overall bridge between people of different backgrounds, it’s no wonder that many governments are implementing policies with the travel and trade sectors in mind.
For young people in particular, travel has become an intrinsic and almost expected part of entering adulthood ― in many countries, it’s standard to take a year or two between grade school and university to wander the planet.
Even in college, students are now prioritising time in another hemisphere studying a new language or culture. In the US, which has traditionally been somewhat isolated, people young and old are expanding their worldviews through tourism.
The Hartsfield-Jackson Atlanta Airport is the busiest airport in the world with 96.1 million passengers per year, and the US has the highest tourist spending on the planet.
Business travel is also becoming more widespread as varying economies and cultures have started working together. On any given day, 8.6 million passengers and US$17.5 billion worth of goods are flown by plane worldwide.
Thanks to the rise of the Internet and high-speed communication, more companies are building and striking deals across borders, and governments are entering trade deals with one another to ease the flow of trade and spur economic growth.
Naturally, businessmen and businesswomen are travelling more often as companies find success overseas, and use their connections to transport goods and services. So many different industries work in conjunction as part of the travel economy ― airlines and credit card companies offer frequent flyer benefits as well as deals between hotels, car rental companies, tours, etc, and tourists also want entertainment, souvenirs, and food.
Travel has a ripple effect throughout local, national, and international economies, and its impact is especially visible in countries where tourism has recently boomed. Thailand, for example, is known for its cheap prices for normal costs like food or room-and-board, creating a welcoming atmosphere for budget travellers and high-end tourists alike.
With cheap opportunities to stay and play available abroad, many younger people are choosing travel as a lifestyle, and it’s becoming more accepted in society. As the industry generates higher GDPs across the globe, wealth and travel opportunities keep spreading, and combined with higher disposable incomes, people from all walks of life are encouraged to take trips and spend money, continuing the economic cycle.
To get a better idea of how much impact the travel economy has, Coupofy has compiled an infographic demonstrating the estimated real-time impact of the travel economy in 50 of the top-visited countries in the world. It visibly shows the impact of travel and tourism in countries by the second, which is useful in demonstrating the industry’s impact on the planet. There are even some interesting facts and an interactive map to help you understand this fascinating industry’s growing power.
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