Tourism expenditure

China and Russia led the growth in expenditure on travel abroad among the top 10 most important source markets in the world in the first half of 2013.

According to the United Nations World Tourism Organisation (UNWTO), emerging economy outbound markets continue to drive growth both to emerging and advanced economy destinations. China, with an increase of 31 per cent, and Russia, with an increment of 22 per cent, were the top most important source markets in the world in the first half of 2013. Outside the top 10 source markets in the world, Brazil is back with 15 per cent growth after a more moderate 2012, states the UNWTO release.

Meanwhile, expenditure from traditional markets on the other hand was more modest. Canada with three per cent, and France with two per cent led the group, followed by flat results of the United States, Germany and the United Kingdom and negative figures from Japan, Australia and Italy.

source: the himalayan times,1 Sep 2013