Consequently, we need to continuously enhance our ability to adjust to this changing environment. At the same time, to achieve a higher growth path we need to address some important issues in our economy. The world has changed drastically in recent decades, becoming more globalized with capital, goods, knowledge, and especially people moving faster than ever.
As the global economy expands and people become wealthier, they will be spending a larger share of their income on leisure activities, such as travelling. In 1950, for example, 25 million tourists travelled around the world; in 2014, the number exceeded 1.1 billion.