Economic Impact Research
Alongside our Insights reports, WTTC produces reports on the economic and employment impact of Travel & Tourism for 185 countries/economies and 26 geographic or economic regions in the world. These reports, in conjunction with Oxford Economics, are a vital tool in helping us to equip public and private sector bodies with hard evidence of the huge value Travel & Tourism brings to the economy, so that their policymaking and investment decisions support our sector.
Prior to the pandemic, Travel & Tourism (including its direct, indirect, and induced impacts) accounted for 1 in 5 new jobs created across the world during 2014-2019, and 10.3% of all jobs (334 million) and 10.4% of global GDP (US$ 10 trillion) in 2019. Meanwhile, international visitor spending amounted to US$ 1.9 trillion in 2019.
WTTC’s latest annual research shows:
- In 2022, the Travel & Tourism sector contributed 7.6% to global GDP; an increase of 22% from 2021 and only 23% below 2019 levels.
- In 2022, there were 22 million new jobs, representing a 7.9% increase on 2021, and only 11.4% below 2019.
- Domestic visitor spending increased by 20.4% in 2022, only 14.1% below 2019.
- International visitor spending rose by 81.9% in 2022, but still 40.4% behind 2019 numbers.