Growth in the global Travel & Tourism industry in 2012 will be broadly in line with expectations set at the beginning of the year.

In an update of forecasts made at the beginning of the year, the World Travel & Tourism Council (WTTC) predicts growth for the Travel & Tourism globally of 2.7%, only slightly downgraded from the 2.8% that was expected for the industry at the beginning of the year.

The main reasons for the marginal downgrade are that WTTC now expects world GDP growth to be 2.3% in 2012; down 0.2% from the beginning of the year and the continuing problems in the Eurozone. The latest economic data from WTTC's research partner, Oxford Economics, show marginal downgrades in the Eurozone and the US since the beginning of the year, contrasting with upgrades in Japan and emerging markets.

South Korea's annual Travel & Tourism GDP growth of 13.2% is the highest of any G20 country. Its boom coincides with its self- designation of 2010-2012 as the "Visit Korea" years and strong international demand from its main two markets (Japan and China). Favourable exchange rates and a number of cultural, sporting and economic events have also contributed to its booming Travel & Tourism growth.

By contrast, Italy is currently showing the weakest performance of any G20 country, with negative Travel & Tourism GDP growth of -2.8% now expected in 2012.

A summary can be found online here:

http://eu.vocuspr.com/Url.aspx?528099x764304x-525100

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