TOURISM DRIVES NEW ECONOMY
TOURISM DRIVES NEW ECONOMY DENVER, March 11 /PRNewswire/ -- In 1976, the late futurist Herman
Kahn predicted that tourism (including travel) would become the world's number one industry by the year 2000. Good instincts, wrong year.
Dr. Phil Burgess, president, Center for the New West, a Denver-based think tank, points out that tourism has already become the world's leading industry. "According to a recent study by Wharton Econometrics, tourism became the number one industry in 1988 (measured by employment) with more than 100 million people employed worldwide. Tourism spending, both domestic and international, reached $2.7 trillion in 1990, according to the most recent data from the U.S. Travel & Tourism Administration, and other sources used by Travel Industry World Yearbook for 1990. This makes tourism the world's largest industry measured by volume," Burgess concluded. Burgess noted that domestic tourism is growing at twice the rate of the GNP, and international tourism is growing at the rate of 15 percent. "Last year, for the first time, tourism became our number one 'export' industry, surpassing agriculture as our nation's primary source of foreign exchange earnings -- more than $50 billion," he observed. Its a major challenge for state and local governments and private sector businesses (including resorts, lodging companies and their resort associations) to make sure this new opportunity is not fettered away developing new products when we need to invest in infrastructure and the packaging/marketing of what we already have," Burgess concluded. Burgess will be applying his insights on tourism as keynote speaker at the 17th Annual Ski & Travel Symposium, being held April 1-5 at the new Embassy Suites in South Lake Tahoe. Burgess' presentation at the Ski Town Forum is part of a week of events and activities expected to attract over 400 ski industry executives that make up the destination resort vacation industry. Special Symposium packages are available, including registration, discount lodging through Embassy Suites, and attractive transportation packages through American, Continental and Avis. -0- 3/11/92 /CONTACT: Ralf Garrison of Ski Travel Symposium, 303-733-1117/ CO: Ski & Travel Symposium ST: Colorado IN: LEI SU: SM-AH -- NY001B -- 7476 03/11/92 16:36 EST
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|Date:||Mar 11, 1992|
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