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World tourism spend sets new record

While the global tourism spending increased by 3.7 per cent in 2014, the travel spending on accommodation, food, drink, entertainment, shopping and other services by international visitors reached a record US$ 1.25 trillion last year.
According to the preliminary figures from world tourism body, the United Nations World Tourism Organization (UNWTO), the global travel spending increased by US$ 48 billion. The inflation and fluctuation of foreign currencies were taken in account while calculating the percentage increase.
Reports suggest, an additional US$ 221 billion was generated from international passenger transport. This adds up to the total exports from global tourism taking it to US$ 1.5 trillion. International arrival increased by 4.4% in 2014, reaching 1.14 billion.
Apart from global tourism footfall, the tourism industry also generates a healthy amount from international passenger transport services. It amounted to US$21 billion in 2014, making the total exports from international tourism up to US$1.5 trillion.

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