Source: World Tourism Organization.

International Tourists Arrivals and Receipts, 1950-2010

Since the 1950s, the international tourist industry has seen a spectacular growth. It is however an industry characterized by an intense level of competition, since the products often tend to be similar, notably for the resort type of tourism. While in periods of recession their is either a stabilization or a small drop in the number of arrivals, receipts are impacted the a greater extent. This implies that people may still travel but will spend less at an aggregate level.

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