Travel & Tourism Impact on Economic Environment

As one of the world’s largest economic sectors, travel and tourism creates jobs, drives exports, and generates capital across the world.

In 2016 the industry grew by 3.1% while supporting 6 million additional jobs in numerous related sectors. In total, travel and tourism generated US$7.6 trillion (10.2% of global GDP) and 292 million jobs in 2016, equivalent to 1 in 10 jobs in the global economy.

The outlook for the travel and tourism sector in 2017 remains robust and will continue to be at the forefront of wealth and employment creation in the global economy. The role of travel and tourism becomes even more significant, as an engine of economic development and as a vehicle for sharing cultures, creating peace, and building mutual understanding.

Aviation Market with High Demand Growth of Passengers

IATA1 (International Air Transport Association) forecasts passenger demand to double over 20 Years and expects 7.2 billion passengers to travel in 2035, a near doubling of the 3.8 billion air travellers in 2016.

They will see an extra 1.8 billion annual passengers by 2035, with an overall market size of 3.1 billion.

Payment Solution Role

Payment Solutions, especially for travel & tourism industry has great potential and plays an integral role in reaching the main microeconomic goals which regard economic growth, employment, sustainable economic and social development.

Today a majority of consumers are facing difficulties regarding payment methods. Money transfer charges are increasing and transaction times are longer than before. A new payment system would allow firms, individuals, governments and other economic agents to transfer money on a daily basis without such inconveniences

Therefore, Bitair is building a different payment system. It is designed to facilitate on-demand payment. It is secure, has lower fees than traditional payment methods, faster access with no limitation of the amount used to buy any travel & tourism services.

Through Bitair wallet, consumers will use multiple devices, and can have an intuitive and seamless experience across all applications. Bitair engineers intend to focus on a mobile-first and user-centric design strategy to drive consumer preference for their payment products.

The launch of the BITAIR will create a revolution in payment Solutions for the Travel industry
There are nearly 1,000 airlines in the world
Each day there will be 104,000 flights and 9.8 million passengers
62.7 million jobs are supported by aviation around the world