wt&tc romania 2010

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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

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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


Direct Industry GDP Direct Industry 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


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


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


WORLD


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

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-30

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-30

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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.



TRA

VEL&TOUR

ISMSATELLIT

EACCOUNT

COUNTRY

REGION

WORLD

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-12

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-8

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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


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


Employment 3.1 3.1 3.1 3.1 3.2 3.2 4.0



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


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


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


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


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


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


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


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


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)

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1988 1992 1996 2000 2004 2008201220162020

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198819921996 200020042008 201220162020

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1988 1992 1996 2000 2004 2008 2012 2016 2020

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0

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1988 1992 1996 2000 2004 2008 2012 2016 2020

0

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10000

1988 1992 1996 2000 2004 2008 2012 2016 2020

0

50

100

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1988 1992 1996 2000 2004 2008 2012 2016 2020

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15/16

2010

WTTC CONTACTS

Jean-Claude Baumgarten

President & CEO

[email protected]

Uf Ibrahim

Chie Operations Ofcer

[email protected]

Eva Aimable

Policy Analyst

[email protected]

Sarieu Caramba-CokerOfce Manager

[email protected]

Nancy Cockerell

Adviser, Policy and Research

[email protected]

Anja Eckervogt

Communications Co-ordinator

[email protected]

Susann Kruegel

Manager, e-Strategy and

Tourism or Tomorrow Awards

[email protected]

Jason Norman

Director, Finance & Company Secretary

[email protected]

Alison Osborne

Manager, Council Membership

[email protected]

Pamela PriestExecutive Assistant

[email protected]

Paulina Tomczyk

Membership Assistant

[email protected]

Zheng Yan

China Marketing Representative

[email protected]

WTTC India Initiative

[email protected]

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]


16/16

1-2 Queen Victoria terrace

SoVereign

court

London e1W 3Ha, uK

teL: +44 (0) 20 7481 8007Fax: +44 (0) 20 7488 1008emaiL: [email protected]

www.wttc.org

wt&tc romania 2010

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