Economic Impact Reports
WTTC produces reports on the economic and employment impact of Travel & Tourism for 185 countries and 25 geographic or economic regions in the world. These reports 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.
WTTC’s latest annual research, in conjunction with Oxford Economics, shows the Travel & Tourism sector experienced 3.5% growth in 2019, outpacing the global economy growth of 2.5% for the ninth consecutive year. Over the past five years, one in four new jobs were created by the sector, making Travel & Tourism the best partner for governments to generate employment.
In 2019, Travel & Tourism’s direct, indirect and induced impact accounted for:
- US$8.9 trillion contribution to the world’s GDP
- 10.3% of global GDP
- 330 million jobs, 1 in 10 jobs around the world
- US$1.7 trillion visitor exports (6.8% of total exports, 28.3% of global services exports)
- US$948 billion capital investment (4.3% of total investment)
2019 was another year of strong growth for the global Travel & Tourism sector reinforcing its role as a driver of economic growth and job creation.