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Travel industry growth moves east

The Middle East, Africa & Asia will continue to experience higher growth rates than the world average over the coming years with regard to travel and tourism, according to Geoffrey Kent, chairman of the World Travel & Tourism Council. Speaking at the 2008 Global Travel & Tourism Summit. Kent said North American and Europe, the world's two single largest travel and tourism economies, are falling below the world average with growth of just over 2% per annum over the coming decade. Overall, the travel and tourism industry accounts for about 10% of global GDP and 8% of total employment, he noted. Furthermore, one in every 12 jobs in the world today is generated by travel and tourism activity.