Economic Impact Analysis
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WTTC produces reports and forecasts of the economic and employment impact of Travel & Tourism for 185 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 Oxford Economics, shows Travel & Tourism’s contribution to world GDP outpaced the global economy for the sixth consecutive year in 2016, rising to a total of 10.2% of world GDP (US$7.6 trillion). The sector now supports 292 million people in employment – that’s 1 in 10 jobs on the planet.
The outlook for the Travel & Tourism sector in 2017 remains robust and will continue to be at the forefront of wealth and employment creation in the global economy, despite the emergence of a number of challenging headwinds. Travel & Tourism forecasts over the next ten years also look extremely favourable with predicted growth rates of 3.9% 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.
Global Economic Impact & Issues 2017March 2017
Travel & Tourism: Global Economic Impact and Issues 2017 shows the breadth of the data available within the WTTC Economic Impact research to give more insights behind the numbers and to provide a fascinating view of Travel & Tourism now and into the future. Perspectives on major business trends and issues, from the expertise of WTTC's Industry Partners are also included.
World Report 2017March 2017
The WTTC World 2017 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.
To view this report in Chinese, please click here.