{"id":104230,"date":"2024-04-05T15:06:02","date_gmt":"2024-04-05T15:06:02","guid":{"rendered":"https:\/\/syyaha.com\/?p=104230"},"modified":"2025-09-01T10:00:19","modified_gmt":"2025-09-01T07:00:19","slug":"travel-tourism-set-to-break-all-records-in-2024-reveals-wttc","status":"publish","type":"post","link":"https:\/\/syyaha.com\/en\/travel-tourism-set-to-break-all-records-in-2024-reveals-wttc\/","title":{"rendered":"Travel Tourism set to Break All Records in 2024, reveals WTTC"},"content":{"rendered":"

* Global GDP impact predicted to exceed $11 trillion in 2024<\/em><\/p>\r\n\r\n\r\n\r\n

* Unprecedented job numbers expected in the sector<\/em><\/p>\r\n\r\n\r\n\r\n

 <\/p>\r\n\r\n\r\n\r\n

The World Travel & Tourism Council (WTTC<\/a>) is projecting a record-breaking year for Travel & Tourism in 2024, with the sector\u2019s global economic contribution set to reach an all-time high of $11.1 trillion.<\/p>\r\n\r\n\r\n\r\n

According to the global tourism body\u2019s 2024 Economic Impact Research (EIR), Travel & Tourism will contribute an additional $770BN over its previous record, stamping its authority as a global economic powerhouse, generating one in every 10 dollars worldwide.<\/p>\r\n\r\n\r\n\r\n

As the global sector soars past its pre-pandemic prosperity, WTTC expects 142 countries of 185 analysed will be outperforming previous national records.<\/p>\r\n\r\n\r\n\r\n

In partnership with Oxford Economic, WTTC\u2019s latest EIR showcases a sector briming with opportunities, underpinning almost 348MN jobs globally. This represents an increase of more than 13.6MN jobs compared to its highest point in 2019.<\/p>\r\n\r\n\r\n\r\n

International visitor spending is expected to come within touching distance of the 2019 peak, to reach $1.89TN, while domestic tourists are forecast to spend more than in any year on record to hit $5.4TN.<\/p>\r\n\r\n\r\n\r\n

A look back on last year<\/em><\/strong><\/p>\r\n\r\n\r\n\r\n

Despite economic uncertainties and geopolitical shake-ups, the Travel & Tourism sector is thriving. With an economic injection of nearly $10TN, the sector matched its pre-pandemic zenith, flexing its resilience and proving its critical role in the global economy.<\/p>\r\n\r\n\r\n\r\n

Representing 9.1% of global GDP at just over $9.9TN in 2023, Travel & Tourism\u2019s financial footprint was the largest it\u2019s been since the golden year of travel in 2019, trailing its peak by a mere 4%.<\/p>\r\n\r\n\r\n\r\n

The sector also bolstered its workforce by an additional 27.4MN, propelling the total to nearly 330MN jobs worldwide.<\/p>\r\n\r\n\r\n\r\n

International spending increased by 33.1% to reach $1.63TN, underscoring a vibrant comeback story for many countries around the world, with domestic spending increasing by more than 18% to reach almost $5TN.<\/p>\r\n\r\n\r\n\r\n

2023 set the stage, demonstrating the unwavering passion for travel, paving the way for a record-breaking year in 2024.<\/p>\r\n\r\n\r\n\r\n

This growth comes despite two of the world\u2019s biggest tourism markets lagging in terms of international visitor spend, with both the U.S. and China seeing a far slower return of international tourist spend.<\/p>\r\n\r\n\r\n\r\n

Last year in the U.S., international visitor spending remained more than a quarter below the peak of 2019, while China\u2019s visitor spend remained almost 60% down.<\/p>\r\n\r\n\r\n\r\n

Julia Simpson, WTTC President & CEO, said: \u201cAgainst the backdrop of uncertainty, the Travel & Tourism sector remains a global economic powerhouse.<\/p>\r\n\r\n\r\n\r\n

\u201cThis isn\u2019t just about breaking records, we\u2019re no longer talker about a recovery \u2013 this is a story of the sector back at its best after a difficult few years, providing a significant economic boost to countries around the world and supporting millions of jobs.<\/p>\r\n\r\n\r\n\r\n

\u201cThere\u2019s a risk however, we need the U.S. and Chinese governments to support their national Travel & Tourism sectors. The U.S. and China will continue to suffer whilst other countries are seeing international visitors return much faster.\u201d<\/p>\r\n\r\n\r\n\r\n

Travel & Tourism 10 years from now<\/em><\/strong><\/p>\r\n\r\n\r\n\r\n

Looking ahead, WTTC is forecasting a promising future for the next decade, characterised by robust growth and unparalleled career opportunities.<\/p>\r\n\r\n\r\n\r\n

By 2034, the sector will supercharge the global economy with a staggering $16TN, making up 11.4% of the entire economic landscape.<\/p>\r\n\r\n\r\n\r\n

This booming industry is also set to be a job creation juggernaut, providing employment for 449MN people worldwide. Nearly 12.2% of the workforce will be powering this vibrant sector, showcasing Travel & Tourism\u2019s pivotal role in global employment.<\/p>\r\n\r\n\r\n\r\n

With more than three quarters of the countries analysed expected to exceed the high point of 2019, in terms of GDP contribution,<\/p>\r\n\r\n\r\n\r\n

Travel & Tourism is on the brink of its most transformative era yet, promising prosperity, innovation, and connection on a scale we\u2019ve yet to see.<\/p>\r\n\r\n\r\n\r\n

For more information, please visit\u00a0<\/strong>wttc.org<\/strong><\/a><\/p>","protected":false},"excerpt":{"rendered":"

* Global GDP impact predicted to exceed $11 trillion in 2024 * Unprecedented job numbers expected in the sector   The World Travel & Tourism Council (WTTC) is projecting a record-breaking year for Travel & Tourism in 2024, with the sector\u2019s global economic contribution set to reach an all-time high of $11.1 trillion. According to […]<\/p>","protected":false},"author":1,"featured_media":104231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jnews-multi-image_gallery":[],"jnews_single_post":{"format":"standard","override":[{"template":"custom","single_blog_custom":"115649","parallax":"1","layout":"right-sidebar","sidebar":"inner-blog-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_featured":"1","show_post_meta":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","number_popup_post":"1"}],"image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post_position":"meta","trending_post_label":"Trending","sponsored_post_label":"Sponsored by","disable_ad":"0","subtitle":""},"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":{"view_counter_number":"0","share_counter_number":"0","like_counter_number":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[74,18],"tags":[],"language":[],"class_list":["post-104230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-travel-news","category-special-reports"],"acf":[],"_links":{"self":[{"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/posts\/104230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/comments?post=104230"}],"version-history":[{"count":1,"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/posts\/104230\/revisions"}],"predecessor-version":[{"id":116861,"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/posts\/104230\/revisions\/116861"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/media\/104231"}],"wp:attachment":[{"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/media?parent=104230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/categories?post=104230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/tags?post=104230"},{"taxonomy":"language","embeddable":true,"href":"https:\/\/syyaha.com\/en\/wp-json\/wp\/v2\/language?post=104230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}