Similar to merchandise trade, world trade in
commercial services grew by 1–2 per cent in 2012,
according to preliminary estimates by UNCTAD/
WTO. Within this broad category, international
tourism grew by 4 per cent in 2012, both in terms
of receipts in real terms (i.e. adjusting for exchange
rate fluctuations and inflation) and the number of
arrivals. Tourism roughly accounts for 30 per cent of
world exports of services and for 6 per cent of overall
exports of goods and services. It also ranks fifth as
a worldwide export category after fuels, chemicals,
food and automotive products, and even first in many
developing countries. The Americas recorded the
largest increase in receipts from tourism (7 per cent),
followed by Asia and the Pacific (6 per cent), Africa
(5 per cent) and E urope (2 per cent). B y contrast,
receipts in West Asia were again down by 2 per cent
(World Tourism Organization, 2013). Tourist receipts