The World Travel and Tourism Council has predicted a decade of sustained growth in travel, forecasting an annual increase in turnover of 4.3% up to 2017.
It predicts growth this year to be slightly below this at 3.9%, but says only lack of sufficient investment by governments is holding the industry back.
Turnover from tourism over the next decade should almost double from $7,000 billion this year to $13,000 billion in 2017, according to the council.
Speaking at German trade show ITB in Berlin, WTTC president Jean-Claude Baumgarten said: “Growth this year is not expected to be as dynamic as 2006, but I have never seen such a strong world economy.
“It is so strong that high oil prices have not affected demand. Everything but government expenditure on tourism is positive.”
Abercrombie and Kent chief executive Geoffrey Kent, who is chairman of WTTC, said: “I’m puzzled that politicians still don’t take travel and tourism seriously and integrate it into planning.”
The WTTC forecasts China will move from being the world’s third-biggest travel economy to second place ahead of Japan by 2017, with the US still number one.
Baumgarten said: “The Chinese outbound market is amazing. More Chinese traveled overseas last year than Japanese.”
The WTTC sponsors research and lobbying on behalf of the private sector and includes representatives of many of the world’s biggest travel companies.