TravelTill

Economy of Romania


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ort) and 16 under construction or planned airports, whose construction will be completed until 2020. Romania has about 200 flight corridors, as much as any other European country. The air traffic has doubled in the last 20 years, in summer of 2010, Romania was crossed by 150 aircrafts simultaneously, bringing considerable incomes to TAROM airline. As of May 2011, TAROM flies to 47 destinations (including the seasonal destinations), such as: Cairo, Tel Aviv, Dubai, Vienna, Brussels, Paris, Frankfurt am Main, Munich, Athens, Budapest, Rome, Amsterdam, Barcelona, Madrid, Istanbul and London.

Tourism

Tourism focuses on the country's natural landscapes and its rich history and is a significant contributor to the Romanian economy. In 2006, domestic and international tourism generated about 4.8% of gross domestic product and 5.8% of the total jobs (about half a million jobs). Following commerce, tourism is the second largest component of the services sector. Tourism is one of the most dynamic and fastest developing sectors of the economy of Romania and is characterized by a huge potential for development.

According to the World Travel and Tourism Council, Romania is the fourth fastest growing country in the world in terms of travel and tourism total demand, with a yearly potential growth of 8% from 2007 to 2016. The number of tourists grew from 4.8 million in 2002 to 6.6 million in 2004. Similarly, the revenues grew from 400 million in 2002 to 607 in 2004. In 2006, Romania registered 20 million overnight stays by international tourists, an all-time record, but the number for 2007 is expected to increase even more. Tourism in Romania attracted €400 million in investments in 2005.

Over the last years, Romania has emerged as a popular tourist destination for many Europeans (more than 60% of the foreign visitors in 2007 were from EU countries), thus attempting to compete with Bulgaria, Greece, Italy and Spain. Destinations such as
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