Total Economy Analysis - 5 Key Countries
Building on the successful benchmarking research that looks at the comparative advantages of Travel & Tourism against a selection of other industries, WTTC conducted further research to rank how the Travel & Tourism compares against all sectors in five countries. This analysis uses various industry classifications and allows comparison of Travel & Tourism in the full economy, across employment and GDP. It also looks at how the contribution of the sector in the different markets has performed across time.
The countries looked at in this detailed analysis include Australia, Germany, South Korea, United Kingdom and the United States:
Travel & Tourism generated more than US$37 billion in GDP in Australia (2.4% of GDP) in 2013 placing it 15th among major industries. In terms of jobs, however, Travel & Tourism contributed more than 505,000 of the 11.6 million jobs (4.3%) in 2013, ranking 8th among major industries.
Travel & Tourism directly contributed US$55 billion in GDP for Germany in 2013, or 1.6% of Germany’s total GDP, placing it 18th among major industries. There were nearly 42 million jobs in the country in 2013 and Travel & Tourism generated nearly 725,000 of them (1.7% of total), placing the industry 21st among major industries.
In South Korea, Travel & Tourism generated US$24 billion in GDP in South Korea in 2013 ranking it 17th among major industries and 2.1% of total GDP. The industry generated 616,000 of the nearly 25 million jobs in the country in 2013 (2.1% of total), placing it 14th among major industries.
The industry generated US$60 billion in GDP in the United Kingdom in 2013, 2.4% of total GDP and 17th among major industries. More than 1 million of the nearly 32 million jobs or 3.2% of the United Kingdom’s total employment base are in Travel & Tourism, placing it 8th among major industries.
In 2013, Travel & Tourism generated US$448 billion in GDP in the USA, 2.8% of the country’s total GDP in 2013 and 9th among major industries. More than 5.6 million of the 144 million jobs in the country in 2013 were in Travel & Tourism, ranking it 7th among major industries and supporting 3.9% of the USA’s total employment base.