Last updated: 06:00 PM ET, Tue August 09 2016

WTTC Revises Travel Forecast Downward

Features & Advice | Janeen Christoff | August 09, 2016

WTTC Revises Travel Forecast Downward

Photo courtesy Thinkstock

The World Travel and Tourism Council (WTTC) recently revised its forecast for 2016 downward due to economic weakness and an increase in terrorist attacks. 

A report from CNBC noted that according to Allianz Global Assistance's annual "Vacation Confidence Index," more than a fifth of Americans (22 percent) now say that the fear of future violent events has had an influence on their vacation planning in one way or another.

Zika, terrorism and more have weighed heavily on those trying to decide where to go for vacation and many have decided to simply stay home. 

However, many analysts believe that the industry, despite its issues, will remain strong. 

"Travel is a very resilient industry, so even though there are some downward trends in certain areas, other countries are performing very well," Wouter Geerts, travel analyst at Euromonitor International, told CNBC on Monday.

READ MORE: GBTA Forecasts Global Business Travel Spend to Reach $1.6 Trillion by 2020  

Where are the bright spots? Read on here for more detailed information.


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