Economic Impact Analysis
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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 Economic Impact - Mid-year UpdateAugust 2016
This Mid-year Update of WTTC’s Economic Impact Reports 2016 gives an update on the global picture and regional developments, showing that despite challenges the sector is still growing.
Click here to download the summary report and to open the infographic, click here.
2016 Economic Impact Annual Update SummaryMarch 2016
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.
World Report 2016March 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.