Tourism and hospitality is one of the world’s largest economic activities. It is
leading industry in many countries, as well as the fastest growing economic sector in terms of
job creation worldwide. In 2006, the sector generated 10.3 percent of world gross domestic
product, providing 234 million jobs, or 8.2 percent of total world employment.
The financial crisis which has hit the global economy since the summer of 2007 is without
precedent in the post-war history. It has severely impacted on international tourism, causing a
decline of 4% in international tourist arrivals and a decrease of international tourism revenues
by 6% in 2009. Since tourism has become a major economic engine at a global level, this
deterioration had important impacts on various countries, and in particular in developing
countries, where the sector has become an increasingly relevant source of income and
employment.