Principles of Hospitality and Tourism Management

Despite the uncertainties in the global economy, international tourist arrivals during the first four months of 2008 followed a similar growth trend than the same period in 2007. However, as a result of the economic crisis of 2008, international travel demand suffered a strong slowdown beginning in June 2008, with growth in international tourism arrivals worldwide falling to 2% during the boreal summer months, while growth form January to April 2008 had reached an average 5.7% compared to its 2007 level. Growth from 2006 to 2007 was only 3.7%, as total international tourism arrivals from January to August were 641 million tourists, up from 618 million in the same period in 2007.