Benchmarking Travel & Tourism
For over 20 years, the World Travel & Tourism Council (WTTC) has spearheaded global analysis of the economic impact of Travel & Tourism. This research, based on Tourism Satellite Accounting (TSA) methodology, has established the contribution of the sector to GDP, income and employment in 184 countries, measured in absolute size, share of the economy and growth.
Expanding on our successful 2012 research that assessed the role Travel & Tourism plays in the world economy in comparison to other economic sectors, the 2013 benchmarking results, undertaken by Oxford Economics and sponsored by American Express and TUI AG look at the relative significance of the industry against an assortment of other sectors at the global level and for each world region. We have undertaken in-depth analysis of 25 individual countries.
The 2013 results show that:
- Travel & Tourism contributes more to GDP than automotive manufacturing in every region of the world - three times more in the Americas and twice as much in Europe.
- With 102 million people directly employed in 2013, this industry directly employs:
- 5 times more people than automotive manufacturing
- 5 times more than the global chemicals manufacturing industry
- 4 times more than the global mining industry
- Travel &Tourism supports more jobs than the automotive and chemicals manufacturing industries combined across every region of the world.
- In almost every region of the world, Travel & Tourism directly sustains more jobs than the mining, communications, education (and higher education) and banking sectors. The only exception is Asia Pacific where the financial services industry sustains slightly more jobs than Travel & Tourism.
- For every one dollar spent on Travel & Tourism, 3.2 dollars are generated in GDP across the entire economy.
- 1 million dollars in tourism sales generates twice as many jobs than the same 1 million dollars in financial services, communications and automotive manufacturing.