Global tourism posted its strongest performance in recent memory through the first eight months of 2004, pulling out of a slump caused by SARS and the Iraq war. The World Tourism Organization (WTO), in a barometer report released in Monaco, found near-universal double-digit gains across international arrivals.
Asia and the Pacific led all regions with 37 percent growth. North America reversed three straight years of decline, rising 12 percent. China saw arrivals climb 32 percent while outbound departures jumped 82 percent. Egypt recorded a 49 percent increase and several Southeast Asian markets topped 45 percent growth, with Malaysia close to 70 percent.
The recovery brought little comfort to airline executives. The International Air Transport Association warned that sector losses could surpass its $3-4 billion forecast for the year if crude oil stayed above $50 a barrel. Fuel already represents roughly 15 percent of a carrier's operating costs.
Low-cost competition sharpens the pressure: carriers face higher fuel bills at the same time passengers expect cheaper fares, squeezing margins from both directions. WTO Secretary-General Francesco Frangialli acknowledged the tension, noting concern over "the volatility of oil prices" even while celebrating tourism's broad revival.
Historical summary. TurkishPress restated this AFP wire report, first published in October 2004, in its own words.