|Click on the image to enlarge|
WTTC produces reports and forecasts of the economic and employment impact of Travel & Tourism for 184 countries and 25 geographic or economic regions in the world. Our 10-year forecasts also provide a unique understanding of Travel & Tourism’s future growth, economic importance and social influence.
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 policy-making and investment decisions support our sector.
WTTC’s latest annual research, in conjunction with our partner Oxford Economics, shows Travel & Tourism’s contribution to world GDP grew for the sixth consecutive year in 2015, rising to a total of 9.8% of world GDP (US$7.2 trillion). The sector now supports 284 million people in employment – that’s 1 in 11 jobs on the planet.
The sector is set to face macroeconomic conditions and other challenges in 2016, but nevertheless expected to perform at a solid growth rate and outperform global economic growth once again. Travel & Tourism forecasts over the next ten years also look extremely favourable with predicted growth rates of 4% annually.
WTTC is proud to continue to provide this clear and empirical data in order to help both public and private bodies make the right decisions for the future growth of a sustainable Travel & Tourism sector.
Travel & Tourism generated US$7.2 trillion (9.8% of global GDP) and 284 million jobs (1 in 11 jobs) to the global economy in 2015. Its growth of 3.1% was faster than the wider economy. Despite challenges, sector is forecast to continue outperforming global GDP growth in 2016.
The WTTC World 2016 Economic Impact Report shows Travel & Tourism’s contribution to world GDP grew for the sixth consecutive year, with notably high growth in T&T investment. Travel & Tourism forecasts over the next ten years also look extremely favourable, with predicted growth rates that continue to be higher than growth rates in other sectors.