Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors. Global Tourism Industry Overview

CRI-report: Over the past few years, the Travel and Tourism (T&T) industry has had to contend with a series of unprecedented challenges. International events, such as terrorism and SARS, and economic turbulence have led to significant changes in T&T demand. At the same time, international events such as an increase in information and booking facilities made available over the Internet; an ongoing desire by customers to travel more frequently; stronger branding and globalization by companies; and the expansion of low-cost carriers have acted as a catalyst, accelerating fundamental changes in market behavior and travel patterns that have been slowly emerging over the past decades. While business plans have become increasingly short term, more and more governments are starting to realize that they cannot leave the growth of T&T to chance. This emerging global consciousness represents a great opportunity for this industry.

Despite a number of "Black Swan" events in many parts of the world such as the Arab Spring, the tsunami in Japan, flooding in Thailand and ongoing bank or national debt crises, the recovery in consumer travel demand that began in 2010 also continued in 2011.

The Pacific Asia Travel Association (PATA) preliminary results released in January 2012 show a collective increase of six per cent year-on-year for international arrivals into Asia Pacific destinations during each of the months of October and November 2011. For the first 11 months of the year, South Asia was the star growth performer, followed by Southeast Asia, Northeast Asia, and the Pacific, all of which saw tourism demand improve, albeit at different rates of growth. This momentum will continue for the rest of the year and paves the way for an expected full-year arrivals gain of five to six per cent in 2011, above the global growth figure of four per cent. The overall international visitor arrivals count to the wider Asia Pacific region - which includes North America - expected to reach around 430 million for 2011 according to "India Tourism Industry 2H11" on

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