In the short-term, travel and tourism is expected to continue to be negatively affected by the downturn in global economies, increasing unemployment, reduced disposable incomes and reduced demand for leisure and business travel. However, UNWTO has made the observation that “past experience has shown that travel and tourism always rebounds from cyclical downturns - sometimes even stronger than before” . Indeed, the 6.5% average annual growth rate in international arrivals over the period 1950 to 2005 is evidence of the sector’s resilience and robustness over the long-term.
