Top 5 countries most dependent on tourism. “People see pictures on social media and think it’s on Mars”
Of the 136 biggest economies in the world, Ukraine is the one least reliant on tourism, with just 1.4% of its gross domestic product coming from visitors. Russia is close behind, with just 1.5% of its GDP coming from tourism, according to The Travel and Tourism Competitiveness Report 2017 by the World Economic Forum. These results are some how predictable, as both countries rely on energy. But what are the countries most dependent on tourism?
The United States has a $488 billion travel industry — the largest in the world – but travel to the U.S. is on the downturn, due to “Trump slum”, according to industry experts.
Economists estimate that travel to the US could drop by 8% this year, due to the impact of the current administration’s plans to cut immigration, which have made the country an unfriendly place for foreigners.
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According to the “Travel and Tourism Satellite Accounts” of the Bureau of Economic Analysis, spending on travel and tourism in the U.S. fell 3.3% year-over-year to $1.7 trillion in the fourth quarter of 2016, after a rise of3.7% in the previous quarter.
Anyway, as far as the size of its tourism industry goes, the U.S. eclipses other countries in the world, athough it doesn’t rely heavily on tourism to sustain its economy, like other countrise.
Malta and Croatia, for example, are the most reliant, with tourism comprising 15% of Malta’s and Croatia’s GDP. Thailand and Jamaica come in third and fourth place in the top.
Number 5 is Iceland, which saw its tourism numbers rise from just 490,000 in 2010 to 1.8 million in 2016. Now, the country receives more visitors in one year than its entire population.
The tourists are highly attracted to the otherworldly landscapes of Iceland’s colorful villages and icy waterfalls are being popularized on millions of Instagram feeds.
“It’s not too far (from Boston or New York, it’s a quick flight) — but when you’re there, it feels like you’re on a different planet. People see pictures on social media and think it’s on Mars. It feels out of this world. It has that Instagram factor.” said Kayak vice president of marketing David Solomito, cited by Market Watch.
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