Bih 2012

WTTC Travel & Tourism Economic Impact 2012
1
The Authority on World Travel & Tourism
Travel
& Tourism
Economicimpact2012
BosnIa-HErzEgovIna
For more information please contact:
Olivia Ruggles-Brise
Director,policy&Research
olivia.rugglesbrise@wttc.org
Eva Aimable
manager,policy&Research
eva.aimable@wttc.org
2012Worldtravel&tourismcouncil
For more than 20 years the World Travel & Tourism Council (WTTC)
has been investing in economic impact research, which assesses
the Travel & Tourism industrys contribution to GDP and jobs. Our
ten-year forecasts are unique in the information they provide to
assist governments and private companies plan for the future.
Travel & Tourism continues to be one of the worlds largest industries. The total impact of the industry means
that, in 2011, it contributed 9% of global GDP, or a value of over US$6 trillion, and accounted for 255 million
jobs. Over the next ten years this industry is expected to grow by an average of 4% annually, taking it to
10% of global GDP, or some US$10 trillion. By 2022, it is anticipated that it will account for 328 million jobs,
or 1 in every 10 jobs on the planet.

2011 was one of the most challenging years ever experienced by the global Travel & Tourism industry.
However, our latest research suggests that, despite political upheaval, economic uncertainty and natural
disasters, the industrys direct contribution to world GDP grew by nearly 3% to US$2 trillion and directly
generated 1.2 million new jobs. This was supported by a 3% increase in visitor exports to US$1.2 trillion,
with almost 3% growth in capital investment, which rose to over US$0.7 trillion.

Moreover, while the macroeconomic environment remains very challenging, our latest projections point to
continuous growth in the contribution of Travel & Tourism to global GDP and employment. Rising household
incomes in emerging economies not only the BRICs (Brazil, Russia, India and China) but increasingly across
the rest of Southeast Asia and Latin America will continue to fuel increased leisure demand. Similarly,
growing international trade particularly from emerging markets will sustain business travel demand.
In developed economies, consumers are likely to remain cautious, especially in European countries where
austerity programmes are being implemented.

This means that we expect growth in Travel & Tourisms direct contribution to GDP to remain stable at 3% in
2012. We expect the industry to generate directly over 2 million new jobs, with a 2% increase in visitor exports
and 3.5% growth in investment over the year.

Rarely over the past 20 years have we been challenged by such economic and political uncertainty as we are
seeing now. Our ongoing research underlines the importance of Travel & Tourism as a stabilising force globally
providing jobs, generating prosperity, and facilitating international trade and investment.
David Scowsill
President & CEO
World Travel & Tourism Council
Foreword
Contents
2012 Annual Research: Key Facts .......................................................................................................1
Defning the Economic Contribution of Travel & Tourism .............................2
Travel & Tourisms Contribution to GDP .....................................................................................3
Travel & Tourisms Contribution to Employment ..........................................................4
Visitor Exports and Investment ..................................................................................................................5
Different Components of Travel & Tourism ............................................................................6
Country Rankings: Absolute Contribution, 2012 ........................................................7
Country Rankings: Relative Contribution, 2011 ...........................................................8
Country Rankings: Real Growth, 2012 .........................................................................................9
Country Rankings: Long Term Growth, 2012 - 2022 ...................................... 10
Summary Tables: Estimates and Forecasts .................................................................... 11
The Economic Contribution of Travel & Tourism:
Real 2011 Prices ............................................................................................................................................................. 12
The Economic Contribution of Travel & Tourism:
Nominal Prices ................................................................................................................................................................... 13
The Economic Contribution of Travel & Tourism: Growth ...................... 14
Glossary ......................................................................................................................................................................................... 15
Methodological Note ............................................................................................................................................... 16
Regions, Sub-regions, Countries ...................................................................................................... 17
USEoFmatERiaLiSaUtHoRiSED,pRoViDEDSoURcEiSacKnoWLEDGED
1-2QueenVictoriaterrace,Sovereigncourt,LondonE1W3Ha,UK
2tel:+44(0)2074818007.Fax:+44(0)2074881008.Email:enquiries@wttc.org.www.wttc.org
The Economic Impact of Travel & Tourism 2012
= Total contribution of Travel & Tourism
Bosnia-Herzegovina
2012 ANNUAL RESEARCH: KEY FACTS
2012
forecast
EMPLOYMENT: DIRECT CONTRIBUTION
EMPLOYMENT: TOTAL CONTRIBUTION
VISITOR EXPORTS
INVESTMENT
WORLD RANKING (OUT OF 181 COUNTRIES):
Relative importance of Travel & Tourism's total contribution to GDP
124
ABSOLUTE
Size in 2011
111
Contribution to GDP in 2011
RELATIVE
126
GROWTH
2012 forecast
Total Contribution of
Travel & Tourism to GDP
Breakdown of Travel & Tourism's Total
Contribution to GDP and Employment 2011
2011 BAMmn
GDP (2011 BAMmn)
Direct Indirect Induced
0
500
1,000
1,500
2,000
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3,000
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4,000
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2011 BAMmn 2011 BAMmn
329
1083
533
21
41
14
E
m
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o
y
m
e
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t

(
'
0
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WTTC Travel & Tourism Economic Impact 2012 1
The direct contribution of Travel & Tourism to GDP was BAM533.4mn (2.0% of total GDP) in
2011, and is forecast to rise by 1.8% in 2012, and to rise by 5.9% pa, from 2012-2022, to
BAM963.7mn in 2022 (in constant 2011 prices).
The total contribution of Travel & Tourism to GDP was BAM1,945.1mn (7.4% of GDP) in 2011,
and is forecast to rise by 1.0% in 2012, and to rise by 6.2% pa to BAM3,587.7mn in 2022.
In 2011 Travel & Tourism directly supported 21,000 jobs (1.8% of total employment). This is
expected to remain unchanged in 2012 and rise by 1.9% pa to 25,000 jobs (2.1% of total
employment) in 2022.
In 2011, the total contribution of Travel & Tourism to employment, including jobs indirectly
Visitor exports generated BAM952.4mn (9.6% of total exports) in 2011. This is forecast to grow
by 2.8% in 2012, and grow by 6.2% pa, from 2012-2022, to BAM1,785.3mn in 2022 (10.2% of
total).
Travel & Tourism investment in 2011 was BAM188.0mn, or 4.9% of total investment. It should
rise by 1.9% in 2012, and rise by 7.2% pa over the next ten years to BAM383.7mn in 2022 (5.7%
of total).
2
0
2
2
GDP: DIRECT CONTRIBUTION
GDP: TOTAL CONTRIBUTION
supported by the industry, was 6.7% of total employment (76,500 jobs). This is expected to fall
by 0.5% in 2012 to 76,000 jobs and rise by 2.0% pa to 93,000 jobs in 2022 (7.7% of total).
18
LONG-TERM GROWTH
Forecast 2012-2022

2
Defining the economic
contribution of Travel & Tourism
Travel & Tourism is an important economic activity in most countries around the world. As well as its direct economic
impact, the industry has significant indirect and induced impacts. The UN Statistics Division-approved Tourism Satellite
Accounting methodology (TSA:RMF 2008) quantifies only the direct contribution of Travel & Tourism. But WTTC
recognises that Travel & Tourism's total contribution is much greater, and aims to capture its indirect and induced
impacts through its annual research.
DIRECT CONTRIBUTION
The direct contribution of Travel & Tourism to GDP reflects the internal spending on Travel & Tourism (total spending
within a particular country on Travel & Tourism by residents and non-residents for business and leisure purposes) as
well as government 'individual' spending - spending by government on Travel & Tourism services directly linked to
visitors, such as cultural (eg museums) or recreational (eg national parks).
The direct contribution of Travel & Tourism to GDP is calculated to be consistent with the output, as expressed in
National Accounting, of tourism-characteristic sectors such as hotels, airlines, airports, travel agents and leisure
and recreation services that deal directly with tourists.The direct contribution of Travel & Tourism to GDP is calculated
from total internal spending by netting out the purchases made by the different tourism sectors. This measure is
consistent with the definition of Tourism GDP, specified in the 2008 Tourism Satellite Account: Recommended
Methodological Framework (TSA: RMF 2008).
TOTAL CONTRIBUTION
The total contribution of Travel & Tourism includes its wider impacts (ie the indirect and induced impacts) on the economy.
The indirect contribution includes the GDP and jobs supported by:
Travel & Tourism investment spending an important aspect of both current and future activity that includes
investment activity such as the purchase of new aircraft and construction of new hotels;
Government 'collective' spending, which helps Travel & Tourism activity in many different ways as it is made on
behalf of the community at large eg tourism marketing and promotion, aviation,
administration, security services, resort area security services, resort area sanitation services, etc;
Domestic purchases of goods and services by the sectors dealing directly with tourists - including, for example,
purchases of food and cleaning services by hotels, of fuel and catering services by airlines, and IT services by
travel agents.
The induced contribution measures the GDP and jobs supported by the spending of those who are directly or indirectly
employed by the Travel & Tourism industry.
PLEASE NOTE THAT DUE TO CHANGES IN METHODOLOGY BETWEEN 2010 AND 2011, IT IS NOT POSSIBLE TO COMPARE FIGURES
PUBLISHED BY WTTC FROM 2011 ONWARDS WITH THE SERIES PUBLISHED IN PREVIOUS YEARS.
BOSNIA-HERZEGOVINA: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO GDP
BOSNIA-HERZEGOVINA: TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO GDP
1
All values are in constant 2011 prices & exchange rates
3
Travel & Tourism's
contribution to GDP
1
The direct contribution of Travel & Tourism to GDP in 2011 was BAM533.4mn (2.0% of GDP). This is forecast to
rise by 1.8% to BAM542.9mn in 2012.This primarily reflects the economic activity generated by industries
such as hotels, travel agents, airlines and other passenger transportation services (excluding commuter
services). But it also includes, for example, the activities of the restaurant and leisure industries directly
supported by tourists.
The direct contribution of Travel & Tourism to GDP is expected to grow by 5.9% pa to BAM963.7mn (2.2% of GDP)
by 2022.
0
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Constant 2011 BAMmn
% of whole economy GDP
0.0
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induced income impacts, see page 2) was BAM1,945.1mn in 2011 (7.4% of GDP) and is expected to grow by
1.0% to BAM1,964.5mn (7.4% of GDP) in 2012.
It is forecast to rise by 6.2% pa to BAM3,587.7mn by 2022 (8.2% of GDP).
Constant 2011 BAMmn
0
500
1,000
1,500
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4,000
2011 2012 2022 2022 2022
0.0
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9.0
2011 2012 2022 2022
The total contribution of Travel & Tourism to GDP (including wider effects from investment, the supply chain and
BOSNIA-HERZEGOVINA: DIRECT CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT
BOSNIA-HERZEGOVINA: TOTAL CONTRIBUTION OF TRAVEL & TOURISM TO EMPLOYMENT
4
Travel & Tourism generated 21,000 jobs directly in 2011 (1.8% of total employment) and this is forecast to
remain the same in 2012 at 21,000 (1.8% of total employment).
This includes employment by hotels, travel agents, airlines and other passenger transportation services
(excluding commuter services). It also includes, for example, the activities of the restaurant and leisure
industries directly supported by tourists.
By 2022, Travel & Tourism will account for 25,000 jobs directly, an increase of 1.9% pa over the next ten years.
0.0
5.0
10.0
15.0
20.0
25.0
30.0
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'000 jobs
% of whole economy employment
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The total contribution of Travel & Tourism to employment (including wider effects from investment, the supply
By 2022, Travel & Tourism is forecast to support 93,000 jobs (7.7% of total employment), an increase of 2.0%
pa over the period.
'000 jobs
0.0
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2011 2012 2022 2022
2022
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2011 2012 2022 2022
% of whole economy employment
Travel & Tourism's
contribution to employment
chain and induced income impacts, see page 2) was 76,500 jobs in 2011 (6.7% of total employment). This is
forecast to fall by 0.5% in 2012 to 76,000 jobs (6.6% of total employment).
2
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2
VISITOR EXPORTS
BOSNIA-HERZEGOVINA: VISITOR EXPORTS AND INTERNATIONAL TOURIST ARRIVALS
INVESTMENT
BOSNIA-HERZEGOVINA: CAPITAL INVESTMENT IN TRAVEL & TOURISM
1
5
Visitor Exports and Investment
1
Visitor exports are a key component of the direct contribution of Travel & Tourism. In 2011,
Bosnia-Herzegovina generated BAM952.4mn in visitor exports. In 2012, this is expected to grow by 2.8%, and
the country is expected to attract 380,000 international tourist arrivals.
By 2022, international tourist arrivals are forecast to total 523,000, generating expenditure of BAM1,785.3mn, an
increase of 6.2% pa.
Constant 2011 BAMmn
Foreign visitor exports as % of total exports
0.0
2.0
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2
Travel & Tourism is expected to have attracted capital investment of BAM188.0mn in 2011. This is expected to
rise by 1.9% in 2012, and rise by 7.2% pa over the next ten years to BAM383.7mn in 2022.
Travel & Tourisms share of total national investment will rise from 4.8% in 2012 to 5.7% in 2022.
Constant 2011 BAMmn
0
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mn
Foreign tourist arrivals (RHS)
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Foreign visitor exports (LHS)
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Leisure spending
Business spending
Foreign visitor spending
Domestic spending
Direct
Induced
Indirect
43.4%
9.4%
2.9%
1
55.7%
(c) Government collective
Indirect is the sum of:
(a) Supply chain
(b) Investment
27.4%
16.9%
62.5%
37.5%
76.3%
23.7%
6
Different components of
Travel & Tourism
1
Bosnia-Herzegovina
Travel & Tourism's Contribution to GDP:
Business vs Leisure, 2011
Leisure travel spending (inbound and domestic)
generated 76.3% of direct Travel & Tourism GDP
in 2011 (BAM1,168.3mn) compared with 23.7%
for business travel spending (BAM363.1mn).
Business travel spending is expected to grow by
1.2% in 2012 to BAM367.4mn, and rise by 5.1%
pa to BAM603.2mn in 2022.
Leisure travel spending is expected to grow by
2.9% in 2012 to BAM1,202.7mn, and rise by 5.8%
pa to BAM2,111.9mn in 2022.
Bosnia-Herzegovina
Domestic vs Foreign, 2011
Travel & Tourism's Contribution to GDP:
Domestic travel spending generated 37.5% of
direct Travel & Tourism GDP in 2011 compared
with 62.5% for visitor exports (ie foreign visitor
spending or international tourism receipts).
Domestic travel spending is expected to grow by
2.0% in 2012 to BAM582.2mn, and rise by 4.6%
pa to BAM918.0mn in 2022.
Visitor exports are expected to grow by 2.8% in
2012 to BAM979.3mn, and rise by 6.2% pa to
BAM1,785.3mn in 2022.
c
b
a
Bosnia-Herzegovina
Breakdown of Travel & Tourism's Total Contribution to GDP, 2011
The Travel & Tourism industry contributes to GDP
and employment in many ways as detailed on
page 2.
The total contribution of Travel & Tourism to
GDP is nearly four times greater than its direct
contribution.
2011 2011
(US$bn) (US$bn)
7 Italy 71.6 7 Italy 189.5
13 Turkey 33.0 14 Turkey 84.8
22 Greece 17.3 World Average 49.6
World Average 16.6 24 Greece 44.8
46 Croatia 6.1 46 Czech Republic 18.3
48 Czech Republic 6.0 53 Croatia 14.7
73 Bulgaria 2.0 66 Bulgaria 7.0
81 Cyprus 1.4 78 Cyprus 4.5
103 Albania 0.8 95 Albania 2.8
129 Bosnia-Herzegovina 0.4 124 Bosnia-Herzegovina 1.4
132 Montenegro 0.4 140 Montenegro 0.7
2011 2011
'000 jobs '000 jobs
17 Italy 868.7 19 Italy 2231.4
World Average 782.4 World Average 1959.2
27 Turkey 509.6 21 Turkey 1938.8
39 Greece 349.3 42 Greece 758.4
46 Czech Republic 239.4 56 Czech Republic 506.8
68 Croatia 135.5 70 Bulgaria 364.0
80 Bulgaria 100.9 72 Croatia 311.2
128 Cyprus 25.3 122 Bosnia-Herzegovina 76.5
134 Bosnia-Herzegovina 20.8 124 Cyprus 74.3
2011 2011
(US$bn) (US$bn)
12 Italy 17.5 6 Italy 42.5
23 Greece 5.5 19 Greece 17.7
World Average 4.1 31 Croatia 10.6
56 Croatia 1.4 World Average 6.5
96 Cyprus 0.3 62 Cyprus 2.7
108 Montenegro 0.2 74 Albania 1.8
111 Albania 0.2 105 Montenegro 0.7
Capital Investment
Visitor
Exports
The competing destinations selected are those that offer a similar tourism product and compete for tourists from the same set of origin markets.
These tend to be, but are not exclusively, geographical neighbours.
The tables on pages 7-10 provide provide brief extracts from the full WTTC Country League Table Rankings, highlighting comparisons with
competing destinations as well as with the world average.
Travel & Tourism's Direct
Contribution to GDP Contribution to GDP
Travel & Tourism's Total
Contribution to Employment
Travel & Tourism
Country rankings:
Absolute contribution,
2011
7
2011 2011
% share % share
20 Croatia 11.0 23 Croatia 26.5
27 Montenegro 7.5 29 Albania 21.8
40 Greece 6.4 35 Cyprus 17.7
42 Albania 6.2 37 Greece 16.5
47 Cyprus 5.7 40 Montenegro 15.4
71 Turkey 4.3 61 Bulgaria 12.9
81 Bulgaria 3.6 72 Turkey 10.9
94 Italy 3.3 95 Italy 8.6
2011 2011
% share % share
24 Greece 8.5 29 Albania 19.8
36 Montenegro 6.5 31 Cyprus 19.1
37 Cyprus 6.5 33 Greece 18.4
47 Albania 5.5 46 Montenegro 13.7
55 Czech Republic 4.9 60 Bulgaria 11.8
79 Italy 3.8 77 Czech Republic 10.3
90 Bulgaria 3.3 83 Italy 9.7
2011 2011
% share % share
29 Greece 14.0 23 Albania 41.8
55 Turkey 8.6 35 Greece 28.5
World Average 8.3 36 Cyprus 28.3
73 Cyprus 6.8 World Average 15.9
83 Bulgaria 6.1 60 Turkey 15.0
102 Bosnia-Herzegovina 4.9 70 Bulgaria 11.9
103 Albania 4.8 83 Bosnia-Herzegovina 9.6
114 Czech Republic 4.4 99 Italy 6.7
122 Italy 4.0 118 Czech Republic 4.9
Travel & Tourism Investment
Contribution to Total Capital Investment
Visitor Exports
Contribution to Total Exports
Country rankings:
Relative contribution, 2011
8
2012 2012
% growth % growth
48 Albania 5.6 51 Croatia 5.3
53 Croatia 5.3 55 Albania 5.1
117 Bosnia-Herzegovina 1.8 111 Turkey 1.9
118 Turkey 1.7 126 Bosnia-Herzegovina 1.0
154 Bulgaria -1.0 156 Cyprus -1.0
155 Cyprus -1.0 157 Czech Republic -1.1
157 Czech Republic -1.1 165 Bulgaria -2.0
162 Italy -1.6 167 Italy -2.2
168 Greece -2.1 179 Greece -4.5
2012 2012
% growth % growth
57 Turkey 4.4 49 Albania 3.7
51 Albania 4.3 61 Turkey 3.4
92 Bosnia-Herzegovina 0.5 126 Cyprus -0.3
70 Greece 0.2 131 Bosnia-Herzegovina -0.5
96 Cyprus -0.2 139 Czech Republic -1.3
166 Czech Republic -1.2 154 Greece -2.3
114 Italy -1.3 156 Italy -2.5
179 Bulgaria -3.4 178 Bulgaria -4.6
2012 2012
% growth % growth
6 Croatia 14.2 8 Montenegro 13.6
17 Cyprus 12.0 17 Croatia 10.2
60 Montenegro 6.4 90 Bosnia-Herzegovina 2.8
85 Turkey 4.9 World Average 1.6
World Average 3.1 111 Bulgaria 1.0
123 Bosnia-Herzegovina 1.9 114 Greece 0.9
147 Czech Republic -0.4 146 Italy -0.9
161 Bulgaria -2.5 149 Cyprus -1.1
171 Italy -6.2 153 Turkey -1.6
178 Greece -12.6 159 Czech Republic -2.6
Travel & Tourism
Investment
Visitor
Exports
Country rankings:
Real growth, 2012
9
2012 - 2022 2012 - 2022
% growth pa % growth pa
125 Greece 3.3 128 Greece 3.2
169 Italy 1.9 173 Italy 1.6
2012 - 2022 2012 - 2022
51 Albania 2.7 51 Greece 2.7
57 Turkey 2.6 65 Albania 2.4
70 Greece 2.4 World Average 2.4
96 Cyprus 1.8 110 Turkey 1.4
114 Italy 1.5 115 Croatia 1.3
132 Croatia 1.1 137 Italy 0.9
166 Czech Republic -0.2 168 Czech Republic -0.5
179 Bulgaria -2.0 179 Bulgaria -2.2
2012 - 2022 2012 - 2022
61 Bulgaria 5.4 34 Albania 5.3
World Average 5.3 56 Croatia 4.6
65 Croatia 5.2 60 Greece 4.5
75 Turkey 4.9 62 Cyprus 4.5
90 Albania 4.6 147 Bulgaria 2.1
163 Italy 2.0 172 Italy 0.8
164 Greece 2.0 173 Turkey 0.7
Contribution to Capital Investment
Visitor Exports
Contribution to Exports
Travel & Tourism Investment
Country rankings:
Long term growth, 2012 - 2022
10
2012
Bosnia-Herzegovina
BAMmn % of total Growth
2
BAMmn % of total Growth
3
Direct contribution to GDP 533.4 2.0 1.8 963.7 2.2 5.9
Total contribution to GDP 1,945.1 7.4 1.0 3,587.7 8.2 6.2
Direct contribution to employment
4
21 1.8 0.5 25 2.1 1.9
Total contribution to employment
4
76 6.7 -0.5 93 7.7 2.0
Visitor exports 952.4 9.6 2.8 1,785.3 10.2 6.2
Domestic spending 570.5 2.2 2.0 918.0 2.1 4.7
Leisure spending 1,168.3 4.5 2.9 2,111.9 4.8 5.8
Business spending 363.1 1.4 1.2 603.2 1.4 5.1
Capital investment 188.0 4.9 1.9 383.7 5.7 7.2
1
2011 constant prices & exchange rates;
2
2012 real growth adjusted for inflation (%);
3
2012-2022 annualised real growth adjusted for inflation (%);
4
'000 jobs
2012
Europe
US$bn % of total Growth
2
3
Direct contribution to GDP 612.8 2.8 0.2 791.9 2.8 2.6
Total contribution to GDP 1,720.1 7.9 -0.3 2,177.5 7.8 2.4
4
9,937 2.7 0.4 11,262 3.0 1.2
4
28,378 7.7 -0.3 30,599 8.1 0.8
Visitor exports 518.7 5.6 0.4 674.9 4.6 2.6
Domestic spending 734.5 3.4 0.4 970.8 3.5 2.8
Leisure spending 996.7 4.6 0.6 1,319.7 4.7 2.8
Business spending 275.6 1.3 -0.5 348.5 1.3 2.4
Capital investment 187.3 4.5 0.1 271.9 4.7 3.8
1
2
3
4
'000 jobs
2012
Worldwide
2
3
Direct contribution to GDP 1,972.8 2.8 2.8 3,056.2 3.0 4.2
Total contribution to GDP 6,346.1 9.1 2.8 9,939.5 9.8 4.3
4
98,031 3.3 2.3 120,470 3.6 1.9
4
254,941 8.7 2.0 327,922 9.8 2.3
Visitor exports 1,170.6 5.3 1.7 1,694.7 4.3 3.6
Domestic spending 2,791.2 4.0 3.5 4,547.6 4.6 4.6
Leisure spending 3,056.9 4.4 3.1 4,853.8 4.8 4.4
Business spending 968.4 1.4 2.5 1,476.2 1.5 4.0
Capital investment 743.0 4.9 3.5 1,320.4 5.1 5.6
1
2
3
4
'000 jobs
2011
2011
2011 2011 2022
2011 2022
2011 2022
WTTC Travel & Tourism Economic Impact 2012 11
Summary tables:
Estimates & Forecasts
1
1
1
1
1
1
2006 2007 2008 2009 2010 2011 2012E 2022F
3.
Internal tourism consumption
(= 1 + 2 + government individual spending)
4. Purchases by tourism providers,
including imported goods
(supply chain)
5. Direct contribution of
(= 3 + 4)
Other final impacts
(indirect & induced)
6.
Domestic supply chain
11. Total contribution of
(= 5 + 6 + 7 + 8 + 9 + 10)
Employment impacts ('000)
12.
Other indicators
14. Expenditure on outbound travel
658.4 702.3 533.4 542.9
-1752.6
689.5 622.8 564.2
-1038.4 -997.9 -1027.8
1025.7 952.4 979.3
-1199.6 -1280.2 -1128.8 -1272.8
1246.6 1319.4 1311.2
Bosnia-Herzegovina
(BAMmn, real 2011 prices)
1. Visitor exports 1153.4 1785.3
2. Domestic expenditure 603.8 655.8 643.5 590.0 568.1 570.5 582.2
-43.9
918.0
1858.0 1982.5 1962.3 1751.7 1602.7 1531.3 1570.7 2716.2
76.1
963.7
93.0
3587.7
20.9 25.2
1964.5
883.6 1568.3
26.6 27.7 27.4 25.0
Induced
2391.0 2594.8 2528.5
396.6 423.6 410.7
9.
2319.1 2089.9
7. Capital investment
8. Government collective spending
1071.5 1143.0
419.7 374.0 372.2 409.2 528.4
Direct contribution of Travel & Tourism to
employment
Imported goods from indirect spending
10.
-25.1 -30.3 -35.5 -27.9 -29.2 -30.8
1122.2 1013.6 918.2 868.1
242.4 306.6 286.7 248.0 219.6 188.0 191.5 383.7
47.1 49.6 55.0 56.8
93.8 83.1 76.5
80.2 57.8 57.5 58.3
-34.7
322.9 405.7 359.4 328.9
22.3 20.8
1945.1
635.7
13.
398.5 420.3 478.9
Total contribution of Travel & Tourism
to employment
97.8 103.2 101.2
12
The economic contribution of
Travel & Tourism: Real 2011 prices
2006 2007 2008 2009 2010 2011 2012E 2022F
3.
(supply chain)
(= 3 + 4)
Other final impacts
6.
(= 5 + 6 + 7 + 8 + 9 + 10)
12.
Other indicators
Historical data for concepts has been benchmarked to match reported TSA data where available.
542.0 615.3 533.4 554.9
-2225.2
648.8 586.8 542.5
-998.1 -998.0 -1049.7
986.3 952.4 1000.9
-986.8 -1121.5 -1063.6 -1197.9
1026.2 1155.9 1233.7
Bosnia-Herzegovina
(BAMmn, nominal prices)
1. Visitor exports 1086.8 2268.3
2. Domestic expenditure 497.0 574.6 605.4 555.9 546.2 570.5 595.0
-55.7
1166.3
1528.8 1736.8 1846.7 1650.4 1540.6 1531.3 1604.5 3449.4
76.1
1224.4
93.0
4558.2
20.9 25.2
2007.8
903.0 1992.6
-35.5
26.6 27.7 27.4 25.0
330.0 Induced
1968.2 2273.3 2379.0
326.4 371.2 386.4
9.
2185.2 2009.6
882.1 1001.4
395.5 359.6 372.2 418.2 671.4
employment
10.
-20.6 -26.6 -33.4 -26.2 -28.0 -30.8
1055.8 955.0 882.9 868.1
199.6 268.7 269.7 233.7 211.1 188.0 195.7 487.4
101.9 38.8 43.4 51.7 53.5 55.5 57.5 59.6
101.2
382.3 345.5 328.9
22.3 20.8
1945.1
93.8 83.1 76.5
*Concepts shown in this table align with the standard table totals as described in the 2008 Tourism Satellite Account: Recommended
Methodological Framework (TSA: RMF 2008) developed by the United Nations Statistical Division (UNSD), the Statistical Office
of the European Communities (EUROSTAT), the Organisation for Economic Co-operation and Development (OECD) and the World Tourism
Organization (UNWTO).
807.7
13.
328.0 368.3 450.6
to employment
97.8 103.2
13
Travel & Tourism: Nominal prices
2006 2007 2008 2009 2010 2011 2012E 2022F
3.
(supply chain)
(= 3 + 4)
Other final impacts
6.
(= 5 + 6 + 7 + 8 + 9 + 10)
12.
Other indicators
1
2005-2011 real annual growth adjusted for inflation (%);
2
2011-2021 annualised real growth adjusted for inflation (%)
7.0
13.
23.8 5.5 13.9
to employment
1.0 5.6 -1.9
-1.2 -11.4 -8.5
-10.9 -6.4
-6.9
-7.4 -11.4 -7.9
3.2 3.3 5.3 10.8 3.3 1.7 -0.4 1.4
-11.5 -14.4 1.9 7.2 -19.7 26.5 -6.5 -13.5
-1.8 -9.7 -9.4 -5.5
2.6
employment
10.
6.7 7.3 -0.3 -9.9 -8.1 -4.5
-12.4 -10.9 -0.5 10.0
9.
-8.3 -9.9
9.6 6.7
Induced
6.1 8.5 -2.6
9.6 6.8 -3.1
2.5
4.2 4.0 -1.0 -8.9
-1.8
5.6
-0.5
5.9
2.0
6.2
0.5 1.9
1.0
1.8 5.9
2.0
5.5
4.7
8.7 6.7 -1.0 -10.8 -8.5 -4.4 2.5
-12.0 6.2
2. Domestic expenditure 5.1 8.6 -1.9 -8.3 -3.7 0.4
Bosnia-Herzegovina
Growth
1
(%)
1. Visitor exports -11.1 -7.1 2.8
8.6 7.5 -11.5 -0.2
10.5 5.8 -0.6
5.6
-1.8 -9.7 -9.4
-8.7 -3.8 1.7
9.6 6.7 -5.5 1.8
14
Travel & Tourism: Growth
15
Glossary
KEy DEFINITIONS
Travel & Tourism relates to the activity of travellers on
trips outside their usual environment with a duration of less
than one year. Economic activity related to all aspects of
such trips is measured within the research.
Direct contribution to GDP GDP generated by
industries that deal directly with tourists, including hotels,
travel agents, airlines and other passenger transport
services, as well as the activities of restaurant and leisure
industries that deal directly with tourists. It is equivalent to
total internal Travel & Tourism spending (see below) within
a country less the purchases made by those industries
(including imports). In terms of the UNs Tourism Satellite
Account methodology it is consistent with total GDP
calculated in table 6 of the TSA: RMF 2008.
Direct contribution to employment the number
of direct jobs within the Travel & Tourism industry. This is
consistent with total employment calculated in table 7 of the
TSA: RMF 2008.
Total contribution to GDP GDP generated directly by
the Travel & Tourism industry plus its indirect and induced
impacts (see below). Total contribution to employment
the number of jobs generated directly in the Travel &
Tourism industry plus the indirect and induced contributions
(see below).
DIRECT SPENDING IMPACTS
Visitor exports spending within the country by international
tourists for both business and leisure trips, including
spending on transport. This is consistent with total inbound
tourism expenditure in table 1 of the TSA: RMF 2008.
Domestic Travel & Tourism spending spending within
a country by that countrys residents for both business and
leisure trips. Multi-use consumer durables are not included
since they are not purchased solely for tourism purposes.
This is consistent with total domestic tourism expenditure
in table 2 of the TSA: RMF 2008. Outbound spending by
residents abroad is not included here, but is separately
identifed according to the TSA: RMF 2008 (see below).
Government individual spending government spending
on individual non-market services for which beneficiaries
can be separately identified. These social transfers are
directly comparable to consumer spending and, in certain
cases, may represent public provision of consumer
services. For example, it includes provision of services in
national parks and museums.
Internal tourism consumption total revenue generated
within a country by industries that deal directly with
tourists including visitor exports, domestic spending and
government individual spending. This does not include
spending abroad by residents. This is consistent with
total internal tourism expenditure in table 4 of the TSA:
RMF 2008.
Business Travel & Tourism spending spending
on business travel within a country by residents and
international visitors.
Leisure Travel & Tourism spending spending on leisure
travel within a country by residents and international visitors.
INDIRECT AND INDuCED IMPACTS
Indirect contribution the contribution to GDP and
jobs of the following three factors:
Capital investment includes capital investment spending
by all sectors directly involved in the Travel & Tourism
industry. This also constitutes investment spending by other
industries on specifc tourism assets such as new visitor
accommodation and passenger transport equipment, as
well as restaurants and leisure facilities for specifc tourism
use. This is consistent with total tourism gross fxed capital
formation in table 8 of the TSA: RMF 2008.
Government collective spending general government
spending in support of general tourism activity. This can
include national as well as regional and local government
spending. For example, it includes tourism promotion, visitor
information services, administrative services and other public
services. This is consistent with total collective tourism
consumption in table 9 of TSA: RMF 2008.
Supply-chain effects purchases of domestic goods
and services directly by different sectors of the Travel &
Tourism industry as inputs to their fnal tourism output.
Induced contribution the broader contribution to
GDP and employment of spending by those who are
directly or indirectly employed by Travel & Tourism.
OThER INDICATORS
Outbound expenditure spending outside the country by
residents on all trips abroad. This is fully aligned with total
outbound tourism expenditure in table 3 of the TSA:
RMF 2008.
Foreign visitor arrivals the number of arrivals of foreign
visitors, including same-day and overnight visitors (tourists)
to the country.
16
In 2011, WTTC refned its methodology for estimating the direct contribution of Travel & Tourism to be
fully consistent with the UN Statistics Division-approved 2008 Tourism Satellite Account: Recommended
Methodological Framework (TSA:RMF 2008). Some further revisions to the research have been made
in 2012 as part of WTTCs ongoing commitment to align the research with the TSA:RMF 2008. This has
involved further benchmarking of country reports to offcial, published TSAs, including for countries which
are reporting data for the frst time as well as updates to earlier years. As part of the alignment process we
are now also able to isolate and exclude international travel fows related to education.

In addition to 181 individual country reports, one world report and 17 covering world regions and
sub-regions, we also provide reports with combined results for special economic groupings including,
for the frst time in 2012, the G20 and SADC.
Special economic groups
G20
Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia,
Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea,Turkey, UK, USA.
SADC (Southern African Development Community)
Angola, Botswana, Democratic Republic of Congo (DRC), Lesotho, Madagascar, Malawi, Mauritius,
Mozambique, Namibia, Seychelles, South Africa, Swaziland, United Republic of Tanzania, Zambia,
Zimbabwe.
BRIC
Brazil, Russia, India, China.
APEC (Asia-Pacifc Economic Cooperation)
Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia,
Mexico, New Zealand, Papua New Guinea, Peru, Philippines, Russian Federation, Singapore,
Taiwan, Thailand, USA, Vietnam.
OECD (Organisation for Economic Co-operation and Development)
Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Finland, France, Germany, Greece,
Hungary, Iceland, Ireland, Italy, Japan, South Korea, Luxembourg, Mexico, Netherlands,
New Zealand, Norway, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland, Turkey, UK, USA.
Methodological note
17
WORLD
Economic impact reports:
Regions, sub-regions and countries
REGION
SUB-
REGION
COUNTRY REGION
SUB-
REGION
COUNTRY REGION
SUB-
REGION
COUNTRY REGION
SUB-
REGION
COUNTRY
A
F
R
I
C
A
N
O
R
T
H

A
F
R
I
C
A
Algeria
A
M
E
R
I
C
A
S
C
A
R
I
B
B
E
A
N
Anguilla
A
S
I
A
N
O
R
T
H
E
A
S
T

A
S
I
A
Japan
E
U
R
O
P
E
E
U
R
O
P
E
A
N

U
N
I
O
N
Lithuania
Egypt
Antigua &
Barbuda
China Luxembourg
Libya Aruba Hong Kong Malta
Morocco Bahamas South Korea Netherlands
Tunisia Barbados Macau Poland
S
U
B
-
S
A
H
A
R
A
N
Angola Bermuda Taiwan Portugal
Benin Cayman Islands Mongolia Romania
Botswana Cuba
O
C
E
A
N
I
A
Australia Slovakia
Burkina Faso
Former
Netherlands
Antilles
New Zealand Slovenia
Burundi Dominica Fiji Spain
Cameroon
Dominican
Republic
Kiribati Sweden
Cape Verde Grenada Other Oceania UK
Central African
Republic
Guadeloupe Solomon Islands
O
T
H
E
R

E
U
R
O
P
E
Albania
Chad Haiti Tonga Armenia
Comoros Jamaica Vanuatu Azerbaijan
Democratic
Republic of Congo
Martinique
S
O
U
T
H

A
S
I
A
Bangladesh Belarus
Ethiopia Puerto Rico India
Bosnia
Herzegovina
Gabon St Kitts & Nevis Nepal Croatia
Gambia St Lucia Pakistan Iceland
Ghana
St Vincent & the
Grenadines
Sri Lanka Kazakhstan
Guinea
Trinidad &
Tobago
Maldives Kyrgyzstan
Ivory Coast UK Virgin Islands
S
O
U
T
H
E
A
S
T

A
S
I
A
Brunei Macedonia
Kenya US Virgin Islands Cambodia Moldova
Lesotho
L
A
T
I
N

A
M
E
R
I
C
A
Argentina Indonesia Montenegro
Madagascar Belize Laos Norway
Malawi Bolivia Malaysia Russia
Mali Brazil Myanmar Serbia
Mauritius Chile
Papua New
Guinea
Switzerland
Mozambique Colombia Philippines Turkey
Namibia Costa Rica Singapore Ukraine
Niger El Salvador Thailand
M
I
D
D
L
E

E
A
S
T
Bahrain
Nigeria Ecuador Vietnam Iran
Republic of Congo Guatemala
E
U
R
O
P
E
E
U
R
O
P
E
A
N

U
N
I
O
N
Austria Israel
Reunion Guyana Belgium Jordan
Rwanda Honduras Bulgaria Kuwait
Sao Tome &
Principe
Nicaragua Cyprus Lebanon
Senegal Panama Czech Republic Oman
Seychelles Paraguay Denmark Qatar
Sierra Leone Peru Estonia Saudi Arabia
South Africa Suriname Finland Syria
Sudan Uruguay France UAE
Swaziland Venezuela Germany Yemen
Tanzania
N
O
R
T
H

A
M
E
R
I
C
A Canada Greece
Togo Mexico Hungary
Uganda USA Ireland
Zambia Italy
Zimbabwe Latvia
18
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,
supporting some 255 million jobs and generating 9% of global GDP in 2011.
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 a
World report highlighting global trends, as well as reports on regions, sub-regions and special
economic groupings.
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 30 years Oxford Economics has built a diverse and loyal client base of over 300
organisations worldwide, including international organisations, governments, central banks,
and both large and small businesses. Headquartered in Oxford, England, with offces in
London, Belfast, Paris, the UAE, Singapore, Philadelphia, New York and San Francisco,
Oxford Economics employs over 70 full-time, highly qualifed economists and data specialists,
while maintaining links with a network of economists in universities worldwide.
For more information please take advantage of a free trial 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 268 900; email: jtholstrup@oxfordeconomics.com
CHAIRMAN
ABERCROMBIE & KENT
Geoffrey J W Kent
Founder, Chairman & CEO
PRESIDENT & CEO
WORLD TRAVEL &
TOURISM COUNCIL
David Scowsill
VICE CHAIRMEN
GLOBAL LEISURE PARTNERS
Mark Harms
Chairman & CEO
MANDARIN ORIENTAL
Edouard Ettedgui
Group Chief Executive
SILVERSEA CRUISES
Manfredi Lefebvre dOvidio di
Balsorano de Clunieres
Chairman
THE TRAVEL CORPORATION
Brett Tollman
President & Chief Executive
TUI AG
Dr Michael Frenzel
Chairman of the Executive Board
WORLD TRAVEL & TOURISM
COUNCIL
Jean-Claude Baumgarten
WYNDHAM WORLDWIDE
Stephen P Holmes
Chairman & CEO
EXECUTIVE COMMITTEE
ACCOR
Denis Hennequin
Chairman & CEO
AMERICAN EXPRESS
COMPANY
William Glenn
President, Global Merchant
Network Group
BEIJING TOURISM GROUP
Qiang Duan
Chairman
BHARAT HOTELS
Jyotsna Suri
Chairperson & Managing Director
CARLSON
Hubert Joly
President, CEO & Director
EMIRATES
Gary Chapman
President Group Services &
Dnata, Emirates Group
ETIHAD AIRWAYS
James Hogan
CEO
HILTON WORLDWIDE
Christopher J Nassetta
President & CEO
INTERCONTINENTAL HOTELS
GROUP PLC
Richard Solomons
Chief Executive
JUMEIRAH GROUP
Gerald Lawless
Executive Chairman
MARRIOTT INTERNATIONAL
JW Marriott, Jr
Chairman & CEO
Arne M Sorenson
President & CEO
MELI HOTELS
INTERNATIONAL
Sebastin Escarrer
Vice Chairman
OUTRIGGER ENTERPRISES
GROUP
Dr Richard R Kelley
Chairman Emeritus
RIOFORTE INVESTMENTS SA
Manuel Fernando Esprito Santo
Chairman
SABRE HOLDINGS
Tom Klein
President
SHUN TAK HOLDINGS
Pansy Ho
Managing Director
TRAVEL GUARD WORLDWIDE
Jeffrey C Rutledge
Chairman & CEO
TRAVELPORT
Gordon Wilson
President & CEO
TSOGO SUN GROUP
Jabu Mabuza
Deputy Chairman
VISITBRITAIN
Christopher Rodrigues, CBE
Chairman
GLOBAL MEMBERS
ALTOUR
Alexandre Chemla
President
AMADEUS IT GROUP SA
Luis Maroto
President & CEO
Jose Antonio Tazn
Chairman of the Board
AVIS BUDGET GROUP
Ronald L Nelson
Chairman & CEO
BEIJING CAPITAL
INTERNATIONAL AIRPORT CO
Zhiyi Dong
Chairman
Guanghui Zhang
President & CEO
BEIJING TOURISM GROUP
Yi Liu
President
BOSCOLO GROUP
Giorgio Boscolo
CEO
CANNERY ROW COMPANY
Ted J Balestreri
Chairman & CEO
CHINA INTERNATIONAL
TRAVEL SERVICE, HEAD
OFFICE (CITS)
Rong Chen
CEO
CHOICE HOTELS
INTERNATIONAL
Stephen P Joyce
President & CEO
COSTA CRUISES
Pier Luigi Foschi
Chairman & CEO
CTRIP.COM INTERNATIONAL
Min Fan
CEO
DEPARTMENT OF TOURISM &
COMMERCE MARKETING,
GOVERNMENT OF DUBAI
Khalid A bin Sulayem
Director General
DIAMOND RESORTS
Stephen J Cloobeck
Chairman & CEO
DLA PIPER
Sir Nigel Knowles
Co-CEO
DOLPHIN CAPITAL
INVESTORS
Miltos Kambourides
Managing Partner
DUBAILAND
Mohammed Al Habbai
CEO
DUBAI AIRPORTS
INTERNATIONAL
Paul Denis Griffiths
CEO
EAST JAPAN RAILWAY
COMPANY
Satoshi Seino
President & CEO
EXPEDIA INC
Dara Khosrowshahi
President & CEO
FAIRMONT RAFFLES HOTELS
INTERNATIONAL
Chris J Cahill
COO
GLOBAL BLUE GROUP
Per Setterberg
President & CEO
HERTZ CORPORATION
Mark Frissora
Chairman & CEO, Hertz
Corporation
Michel Taride
President, Hertz International &
Executive Vice President, Hertz
Corporation
HNA GROUP
Feng Chen
Chairman of the Board
HOGG ROBINSON GROUP
David Radcliffe
Chief Executive
HONG KONG & SHANGHAI
HOTELS
Clement Kwok
CEO & MD
HOTELPLAN HOLDING
Hans Lerch
Vice Chairman & CEO
HUANGSHAN TOURISM
GROUP
Jiwei Xu
Chairman
HYATT HOTELS CORPORATION
Mark S Hoplamazian
President and CEO
IBM
Marty Salfen
General Manager, Global Travel &
Transportation Industry
INDIAN HOTELS COMPANY LTD
RK Krishna Kumar
Vice Chairman
JONES LANG LASALLE
HOTELS
Arthur de Haast
Global CEO
JTB CORP
Hiromi Tagawa
President & CEO
LEBUA HOTELS & RESORTS
CO LTD
Rattawadee Bualert
President
Deepak Ohri
CEO
LOEWS HOTELS
Jonathan M Tisch
Chairman & CEO
LOS ANGELES WORLD
AIRPORTS
Gina Marie Lindsey
Executive Director
LOTTE
Dong-Bin Shin
Chairman
MESSE BERLIN GMBH
Raimund Hosch
President & CEO
MGM RESORTS
INTERNATIONAL
Jim Murren
CEO
MISSION HILLS GROUP
Dr Ken Chu
Chairman & CEO
MVENPICK HOTELS &
RESORTS
Jean Gabriel Prs
President & CEO
NH HOTELS
Mariano Prez Claver
Chairman
ORBITZ WORLDWIDE
Barney Harford
CEO
PAN PACIFIC HOTEL GROUP
Patrick Imbardelli
President & CEO
PHOCUSWRIGHT
Philip C Wolf
President & CEO
QUNAR
Chenchao Zhuang
Co-Founder & CEO
RADISSON EDWARDIAN
HOTELS
Jasminder Singh
Chairman & CEO
REED TRAVEL EXHIBITIONS
Richard Mortimore
Managing Director
RELAIS & CHTEAUX
Jaume Tpies
President
R TAUCK & PARTNERS
Robin Tauck
President
S-GROUP CAPITAL
MANAGEMENT
Vladimir Yakushev
Managing Partner
SHANGRI-LA
INTERNATIONAL HOTEL
MANAGEMENT
Greg Dogan
President & CEO
SOUTH AFRICAN AIRWAYS
Sizakele Mzimela
CEO
SPENCER STUART
Jerry Noonan
Co-leader, Global Hospitality &
Leisure Practice
STARWOOD HOTELS &
RESORTS WORLDWIDE, INC
Frits D van Paasschen
President & CEO
TAJ HOTELS RESORTS &
PALACES
Raymond Bickson
Managing Director & CEO
TAP PORTUGAL
Fernando Pinto
CEO
TRANSAERO AIRLINES
Alexander Pleshakov
CEO
UNITED AIRLINES
Jeff Smisek
President & CEO
Jim Compton
Executive Vice President & CEO
VIRTUOSO
Matthew D Upchurch CTC
CEO
WILDERNESS SAFARIS
Andy Payne
CEO
ZAGAT SURVEY LLC
Tim Zagat
Co-Founder, Co-Chair & CEO
INDUSTRY PARTNERS
DELOITTE
Adam Weissenberg
Global Segment Lead - Travel
Hospitality and Leisure
REGIONAL MEMBERS
DOURO AZUL
Mario Ferreira
CEO
HONORARY MEMBERS
ACCOR
Grard Plisson
Co-Chairman, Supervisory Board
AMERICAN EXPRESS
COMPANY
Jonathan S Linen
Adviser to Chairman
ANDR JORDAN GROUP
Andr Jordan
Chairman
FT MOORE P/L
Sir Frank Moore, AO
Chairman
THE HERTZ CORPORATION
Frank Olsen
Retired Chairman of the Board
NOMURA INTERNATIONAL
Lord Colin Marshall of
Knightsbridge
Chairman
TZ ASSOCIATES
Tommaso Zanzotto
President
UNIVERSAL MEDIA
Carl Ruderman
Chairman
CHAIRMAN EMERITUS
RRE VENTURES
James D Robinson III
General Partner
WTTC Chairman (1990-1994)
IMMEDIATE PAST
CHAIRMAN
GLOBAL ALLIANCE ADVISORS
LLC
Vincent A Wolfington
Chairman
FORMER CHAIRMEN
INTERCONTINENTAL HOTELS
GROUP PLC
Sir Ian Prosser
Retired Chairman
AIG INC
Harvey Golub
Non-Executive Chairman
ROBERT H BURNS HOLDINGS
LTD
Robert H Burns
Chairman
1-2 Queen Victoria Terrace,
Sovereign Court,
London E1W 3HA
United Kingdom
Telephone: +44 (0) 20 7481 8007
Fax: +44 (0) 20 7488 1008
Email: enquiries@wttc.org
www.wttc.org

Bih 2012

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WTTC Travel & Tourism Economic Impact 2012

WTTC Travel & Tourism Economic Impact 2012

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