How has the global crisis changed tourism. #pensions #ukpensions #pensiontransfer #retiringabroad #IN
26 Monday Nov 2012
The Global Financial Crisis had a major impact on tourism trends around the world. After nearly 8 years of continuous growth, the instability of world markets affected tourist arrivals in most destinations around the world. Tourist arrivals fell by as much as 8% around the globe.
Only Central America, South America, Africa and the Middle East have been immune to such declines. How long this pattern will remain is unknown. Nevertheless, the world is slowly recovering from the financial crisis (credit crunch, oil price increases, and exchange rate fluctuations). Future tourism trends should return to the pattern of growth experienced during the early parts of the millenium.
Despite the temporary declines in tourism trends, incentives to retire abroad may have actually increased during this period. Weak American and European economies may actually lead more Americans and Europeans to consider living abroad as a way to stretch their retirement dollars.