The worldwide travel and tourism industry was expected to grow by more than 4% in 2009, however the latest forecasts show the industry will in fact shrink with hotels and air travel particularly suffering.

Hotels were forecast to grow by 4.8% in 2009 but are now expected to shrink by -3.6%. Air travel was originally forecast to grow by 5.3% but will now decrease by -2.3%.
Travel and tourism arrivals, departures, hotel and air value sales are now predicted to contract by -1.1, -0.9, -3.6 and -2.3 respectively in 2009.

The latest forecast for 2010 reveal worldwide travel and tourism will return to growth, though the growth is way down on pre-recession forecasts.

Arrivals are now predicted to grow by 2.2% in 2010, compared to the June 2008 forecast of 5.9%. Departures are forecast to grow by 1.8% compared to the previous forecast of 5.4%. Hotels are predicted to grow by nearly one percent compared to the previously forecasted 5.2%, while air travel is forecast to grow by 1% compared to the June 2008 predict of 5.2%

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