China is likely to overtake the US to become the world’s biggest travel and tourism market by 2032, up from second position in 2021, according to the World Travel and Tourism Council.
The US, which retained its position last year as the world’s biggest and most powerful travel and tourism market, as measured by the sector's contribution to gross domestic product, could lose the top spot in a decade, the WTTC said in its Economic Impact report released on Tuesday.
In China, the sector’s contribution to GDP could reach $3.9 trillion by 2032, up from $814.3 billion in 2021, as the world's most populous country bounces back from the impact of the Covid-19 pandemic.
In the US, the travel and tourism sector’s contribution to the nation’s economy fell to $1.27tn in 2021 from $1.97tn in 2019. But despite “lengthy travel restrictions” imposed due to the pandemic, the country retained its top spot globally primarily by boosting domestic demand, the report said.
While the sector will continue to grow, its economic contribution is predicted to reach $2.66tn by 2032, ranking it second after China, WTTC said.
In 2021, the US and China were followed by Germany, Japan, Italy, India, France, Mexico, the UK and Spain as the top 10 travel and tourism markets.
By 2032, while the top 10 countries on the list are forecast to remain the same, the order will change to China, the US, India, Germany, Japan, the UK, France, Mexico, Italy and Spain, the tourism body said.
Overall, the contribution of travel and tourism to global GDP between 2022 and 2032 is expected to grow at an average annual rate of 5.8 per cent — more than double the 2.7 per cent predicted for the economy, the report said.
The sector is also expected to generate 126 million additional jobs during the period.
The travel and tourism sector has remained resilient “despite the impact of travel restrictions around the world which failed to halt the spread of the virus,” said Julia Simpson, president and chief executive of WTTC.
“Despite a challenging macro environment, travel and tourism has bounced back. The world, with some exceptions, is travelling again. And we are seeing a resurgence in business travel. Over the next 10 years, travel and tourism growth will outstrip the global economy.”
The WTTC predicts worldwide business travel will grow more than 41 per cent this year.
It could further increase at an average rate of 5.5 per cent annually over the next 10 years, with a faster recovery expected in the Asia-Pacific region, the report said.
While government support has been instrumental throughout this crisis, the swift recovery of the sector will only be possible if leaders and public officials work together and provide clear and consistent rules
Julia Simpson,
president and chief executive of WTTC
Travel and tourism was among the sectors worst hit by the pandemic in 2020 as countries shut their borders and imposed lockdowns to curb the spread of the virus.
In 2020, 62 million jobs were lost in the sector and it suffered losses of almost $4.9tn, with its global contribution to GDP declining by 50.4 per cent year-on-year, compared with a 3.3 per cent decline in the global economy.
“While 2021 saw the beginning of the recovery for the global travel and tourism sector, this was slower than expected, due in part to the impact of the Omicron variant, stringent and inconsistent border restrictions and the lack of co-ordination among governments to tackle the pandemic,” Ms Simpson said in the report.
The sector's contribution to GDP increased by 21.7 per cent last year to $5.8tn, while it also added 18.2 million jobs.
“However, the future outlook is positive … Despite the difficulties the sector has been facing, our projections point to a strong decade of growth,” she said.
In 2022, as travellers’ confidence improves, the sector is “estimated to hasten its pace of recovery” to 43.7 per cent compared with 2021 and add a further 10 million jobs, the report said.
Travel and tourism GDP is also likely to return to pre-pandemic levels by the end of 2023.
“While government support has been instrumental throughout this crisis, the swift recovery of the sector will only be possible if leaders and public officials work together and provide clear and consistent rules,” Ms Simpson said.
“Governments need to focus on coexisting with Covid-19 while enhancing preparedness for future crises, offering safe travel experiences, supporting equitable vaccine distribution and continuing to ease the conditions of entry to destinations.”
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How to register as a donor
1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention
2) There are about 11,000 patients in the country in need of organ transplants
3) People must be over 21. Emiratis and residents can register.
4) The campaign uses the hashtag #donate_hope
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
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De De Pyaar De
Produced: Luv Films, YRF Films
Directed: Akiv Ali
Cast: Ajay Devgn, Tabu, Rakul Preet Singh, Jimmy Sheirgill, Jaaved Jaffrey
Rating: 3.5/5 stars
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Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
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UAE currency: the story behind the money in your pockets
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
Results
2.30pm: Dubai Creek Tower – Handicap (PA) Dh40,000 (Dirt) 1,200m; Winner: Marmara Xm, Gary Sanchez (jockey), Abdelkhir Adam (trainer)
3pm: Al Yasmeen – Maiden (PA) Dh40,000 (D) 1,700m; Winner: AS Hajez, Jesus Rosales, Khalifa Al Neyadi
3.30pm: Al Ferdous – Maiden (PA) Dh40,000 (D) 1,700m; Winner: Soukainah, Sebastien Martino, Jean-Claude Pecout
4pm: The Crown Prince Of Sharjah – Prestige (PA) Dh200,000 (D) 1,200m; Winner: AF Thayer, Ray Dawson, Ernst Oertel
4.30pm: Sheikh Ahmed bin Rashid Al Maktoum Cup – Handicap (TB) Dh200,000 (D) 2,000m; Winner: George Villiers, Antonio Fresu, Bhupat Seemar
5pm: Palma Spring – Handicap (PA) Dh40,000 (D) 2,000m; Winner: Es Abu Mousa, Antonio Fresu, Abubakar Daud
Why does a queen bee feast only on royal jelly?
Some facts about bees:
The queen bee eats only royal jelly, an extraordinary food created by worker bees so she lives much longer
The life cycle of a worker bee is from 40-60 days
A queen bee lives for 3-5 years
This allows her to lay millions of eggs and allows the continuity of the bee colony
About 20,000 honey bees and one queen populate each hive
Honey is packed with vital vitamins, minerals, enzymes, water and anti-oxidants.
Apart from honey, five other products are royal jelly, the special food bees feed their queen
Pollen is their protein source, a super food that is nutritious, rich in amino acids
Beewax is used to construct the combs. Due to its anti-fungal, anti-bacterial elements, it is used in skin treatments
Propolis, a resin-like material produced by bees is used to make hives. It has natural antibiotic qualities so works to sterilize hive, protects from disease, keeps their home free from germs. Also used to treat sores, infection, warts
Bee venom is used by bees to protect themselves. Has anti-inflammatory properties, sometimes used to relieve conditions such as rheumatoid arthritis, nerve and muscle pain
Honey, royal jelly, pollen have health enhancing qualities
The other three products are used for therapeutic purposes
Is beekeeping dangerous?
As long as you deal with bees gently, you will be safe, says Mohammed Al Najeh, who has worked with bees since he was a boy.
“The biggest mistake people make is they panic when they see a bee. They are small but smart creatures. If you move your hand quickly to hit the bees, this is an aggressive action and bees will defend themselves. They can sense the adrenalin in our body. But if we are calm, they are move away.”
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
