New research from MasterCard over 132 destinations reveals a growth in international tourist arrivals and expenditures that they perform.
Caracas, June 2011: A new study by MasterCard Worldwide revealed that tourist destinations on five continents observed record growth in tourist numbers and expenditure thereof of up to 30% in 2011. This includes most major tourist destinations in Latin America and the Caribbean (LAC).
The rate of global destinations to 132 cities MasterCard classified in terms of total international tourist arrivals and expenditure made by these transnational tourists in destination cities and forecasts on the growth of the number of tourists and passengers 2011. The study offers a new approach to understanding the global economy from the perspective of connectivity between the cities of the world, especially in terms of international tourism and cross-border payments. The emerging picture that shows the network connectivity between the world's tourist destinations can be used to understand further the dynamic flow of international trade.
"MasterCard is very important to understand the role of cities in Latin America and the Caribbean played in the connectivity of trade and economies, especially in regard to trade," said Richard Hartzell, president of MasterCard's Latin America and the Caribbean. "MasterCard's role is to ensure that consumers traveling to and from the region to make purchases anywhere in the world safely and efficiently." The index shows that the total output and disbursements made by outgoing passengers in 132 cities around the world grew by 9.2% and 14.6% in a year, respectively, and exceeded the growth of world GDP.
Emerging markets have a greater role in the unification of the world In the classification of 132 cities included 19 cities in Latin America and the Caribbean (LAC). However, the most important tourist destinations in the region are:
1) São Paulo, Brazil;
2) Mexico City, Mexico;
3) Buenos Aires, Argentina;
4) Lima, Peru;
5) Bogotá, Colombia;
6) San Jose, Costa Rica
7) Santo Domingo, Dominican Republic;
8) Rio de Janeiro, Brazil;
9) Caracas, Venezuela
10) Quito, Ecuador.
The index seeks to destinations in emerging markets that recorded a high level of air tourist arrivals and growth in disbursements. According to Dr. Yuwa Hedrick-Wong, economic advisor to MasterCard Worldwide, "As the economic center of gravity of the world is changing inexorably toward dynamic emerging markets in Asia, Latin America, Central and Eastern Europe and Africa, the cities of these continents will play increasingly important roles in uniting the world. " International tourists in the tourist destinations of LAC Among the 10 cities that received the most number of tourists in Latin America are two cities in Brazil: São Paulo and Rio de Janeiro. São Paulo, with 2.7 million arrivals, receives more tourists than any other city in Latin America. Mexico City is in second place with 2.4 million tourists. In fact, there are more tourists visiting São Paulo and Mexico City (2.7 million and 2.4 million) that visitors to San Francisco, Washington DC, Atlanta, Houston and Vancouver. Buenos Aires and Sao Paulo are interconnected cities in LAC:
• Buenos Aires and São Paulo cities are more interconnected and roughly 617,000 are expected to travel from Buenos Aires to São Paulo in 2011. This reflects an impressive growth of 30%.
• In second place is Buenos Aires and Santiago, with 312,000 departures from Buenos Aires to the capital of Chile, a 29% increase since 2010.
• Of the more tourists who traveled to Bogotá in 2010, includes travelers Caracas, Miami, Madrid, New York and Mexico City, which represent the fastest growing city traveler expected - to the city of Bogota in 2011 - with a growth of 88.78%, representing approximately 155,342 visitors. Rio de Janeiro is in first place with regard to the growth of tourist arrivals for 2011
• Unlike 2010, Rio de Janeiro has the highest rate of growth in terms of tourist arrivals in 2011 and is within the ten most important tourist destinations of LAC. Disbursement of tourists in LAC Tourists pay a greater amount of money in São Paulo Buenos Aires but follows closely
• In addition to the large number of tourist arrivals, Sao Paulo currently at the top between the cities of LAC with regard to disbursement by tourists, with $ 3.1 billion. Buenos Aires follows closely with $ 3 billion. Bogotá is in third place with $ 2.1 billion in expenditures by tourists in 2011. Three major tourist destinations in Latin America are shrinking
• Of the ten most important tourist destinations on the tourist arrivals are expected to Santo Domingo (Dominican Republic), Quito (Ecuador) and Caracas (Venezuela), perceive a contraction in growth rates for 2011 as many the most important cities of origin show a reduction in the number of outbound passengers. Tourists entering LAC come more from the U.S.. UU. or the same region
• Depending on air travel, most tourists entering the most important destination city in LAC, Sao Paulo, Buenos Aires come from. However, most tourists are traveling to Mexico City from the city of Los Angeles, USA. UU. Dissemination of the tourist destinations in London is world first in regard to the 132 largest cities in the world by number of tourists, expected that by 2011 20.1 million arriving passengers. Paris is second with 18.1 million. London also ranks first in respect of disbursements corporations. New York is in second place and Paris, in the third. It is estimated that expenditures by tourists in London, Paris and New York in 2011 reached U.S. $ 25.6 billion, U.S. $ 20.3 billion and $ 14.6 billion, respectively.
In terms of growth of tourist arrivals, Barcelona is in first place in the world list and is expected impressive growth of 24.3% in tourist arrivals this year. Kuala Lumpur, Malaysia follows closely with a growth rate of 21.8%. According to the index is expected to Istanbul, Turkey, to present the world's fastest growing transnational in outlays, an increase of 30.1% over 2010, followed by Barcelona in second place with 28.2% and Dubai third with 24%. "Although cities have been measured with regard to the processing of capital, goods and services in the past, data on the human dimension of globalization (transnational air travel and disbursements) can not be obtained so easily.
The international trade and investment are important, but the improvement of human connectivity as it certainly will complement the global trade progress on a more balanced or productive, "said Dr. Yuwa. Index Methodology The MasterCard Worldwide destinations Worldwide is compiled using information on international flights and the ability of flights to be purchased through Global OAG, a provider of data on international aviation. To calculate the frequency of flights between the cities also use the flight schedules. Airlines also regularly publish their load factor and historical flight schedules early, which is then used to calculate the actual number of passenger departures for an outgoing and forecast output of outbound passengers next year. In tourists are flying around the country of departure, returning residents of the city of destination after visiting the country of departure and a third group: non-residents who are connected with the country of departure to destination during the trip a second destination city. This group may be a small proportion of passengers to cities that are typically not the center, but they represent a large amount to the destination cities that are "center" as Singapore, Amsterdam and Frankfurt. At the country level, the database of the United Nations' Trade in Services "in the" Component Travel "provides an estimate of the amount of money residents spend abroad every year (not including the fee air in the country of origin). Algorithm is applied to the total outlay of outputs and the estimated number of outbound passengers to obtain an estimate of average expenditures abroad performed by each departing passenger. In these calculations, it is inevitable that there is a margin of error, since not all outbound trips are the same length, the cost of living varies greatly between the cities of arrival, so even though each trip had the same length , expenditure per passenger between different cities of arrival would be very different. This margin of error is significantly reduced by imposing a minimal overhead in the algorithm, after a number of tests iterative (U.S. $ 500 per trip for the countries of arrival border and U.S. $ 700 per trip for the countries of arrival, no border) .
About Dr. Yuwa Hedrick-Wong, Ph.D., global economic advisor, MasterCard Worldwide Dr Yuwa Hedrick-Wong is a commercial strategist and economist who has 25 years of experience in over thirty countries. He was appointed economic adviser to MasterCard Worldwide Global in 2009. Prior to this role, he served as economic advisor to MasterCard Asia / Pacific, a position he has held since 2001. As economic advisor, chaired a panel of leading economists knowledge, policy analysts, academics and business strategists MasterCard for exchanging and sharing knowledge frequently.
In 2007 he was named advisor to Southern Capital Group, a private equity fund in 2008 was appointed to the Board of Investment of ICICI, the largest private bank in India. Yuwa is also adjunct professor at the Sauder School of Business School of Business, University of British Columbia, Vancouver, BC Canada, and frequently serves as speaker at numerous high-level international conferences. About MasterCard Worldwide As a leading global payments, MasterCard Worldwide is proud to be in the very center of trade and help simplify and make more effective the lives of everyone, everywhere.
MasterCard acts as a franchisor, processor and advisor to the payments industry and commerce a reality by providing an important economic link among financial institutions, governments, businesses, cardholders and merchants worldwide. In 2010, $ 2.7 billion gross was generated by the use of its products by consumers around the world. Powered by the MasterCard Worldwide network (the network of payment processing world's fastest), MasterCard processes over 23 billion transactions each year, can handle 160 million transactions per hour, with an average response time of network of 130 milliseconds and a 99.99 percent reliability. MasterCard advances global commerce through its family of brands, including MasterCard ®, Maestro ® and Cirrus ®, its core product suite, such as credit, debit and prepaid cards, and their features and innovative platforms, like MasterCard PayPass inControl ™ and MasterCard ™. MasterCard serves consumers, governments and businesses in over 210 countries and territories.
Reviewed by Blumsusak June 04, 2011
