Middle class key to tourism

The middle class is key to the
future of tourism, according to a leading economist.

Speaking at the Global Travel and
Tourism Summit in Beijing, Anna Stupnytska said that emerging markets will
increasingly feature demographic groups with much more disposable income than
before.

We’ll see middle-income classes
explode there will be two billion more with middle income in the world by 2030.

“As people get rich and move to the
middle class, they spend less money on necessities and the tourism sector
explodes,” she told assembled delegates.

Emerging markets

Around 40 per cent of the world’s
population is centred in the top four emerging markets of Brazil, Russia, India
and China. The travel industry is looking toward these new locations in order
to prop up a struggling global tourism industry, which is estimated to grow
slightly by half a percentage point this year compared to 2009.

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