Travel The Global Gdp Powerhouse Travel News The wttc ranked china as the world’s second most powerful market with a gdp contribution of $1.3 trillion in 2023, but officials are predicting that the asian powerhouse will become the biggest travel and tourism market over the next decade. The organisation predicts that the travel and tourism industry’s contribution to global gdp will reach a new record, contributing 10% of total gdp for the first time.

Travel And Tourism Gdp Set To Double Global Gdp Bric Group New york, sept 3 (reuters) a record $1 out of every $10 spent globally in 2024 will be on travel as people briskly book hotels, cruises and flights, according to an annual report by the world. Accounting for 9.1% of the global gdp at just over $9.9 trillion in 2023, the financial impact of travel & tourism was at its highest since the landmark year of 2019, only 4% shy of its peak. the sector also added 27.4 million jobs, bringing the global total to nearly 330 million. According to the global tourism body’s 2024 economic impact research (eir), travel & tourism will contribute an additional $770 bn over its previous record, stamping its authority as a global economic powerhouse, generating one in every 10 dollars worldwide. A record $1 out of every $10 spent globally in 2024 will be on travel as people book hotels, cruises and flights, according to an annual report by the world travel and tourism council (wttc).

Navigating Turbulence Travel Weekly According to the global tourism body’s 2024 economic impact research (eir), travel & tourism will contribute an additional $770 bn over its previous record, stamping its authority as a global economic powerhouse, generating one in every 10 dollars worldwide. A record $1 out of every $10 spent globally in 2024 will be on travel as people book hotels, cruises and flights, according to an annual report by the world travel and tourism council (wttc). South africas travel and tourism contribution to national gdp remained 13,1 behind 2019 levels. a lacklustre recovery that became a drag on the whole region, was how the report described it. Travel & tourism is set to contribute more than 10% of saudi arabia’s gdp in 2025, with sector employment projected to reach an all time high of 2.7mn. this success is fuelled by impressive levels of international and domestic spending, with inbound visitor spending forecast to hit almost sar 200bn this year, whilst domestic spending is also. In 2023, tourism made up 9.1% of the world’s gdp, a big jump from 2022. tourism helps countries in a few key ways: • creates jobs in hotels, restaurants, and attractions • brings in foreign money when visitors spend • boosts local businesses that serve tourists • encourages investment in infrastructure some countries rely heavily on. Global tourism contributed $10.9 trillion to the world economy (10% of global gdp), up 8.5% year on year. the sector supported 357 million jobs — 6.2% growth from 2023.

International Travel News Tips Trends Insights For Travelers South africas travel and tourism contribution to national gdp remained 13,1 behind 2019 levels. a lacklustre recovery that became a drag on the whole region, was how the report described it. Travel & tourism is set to contribute more than 10% of saudi arabia’s gdp in 2025, with sector employment projected to reach an all time high of 2.7mn. this success is fuelled by impressive levels of international and domestic spending, with inbound visitor spending forecast to hit almost sar 200bn this year, whilst domestic spending is also. In 2023, tourism made up 9.1% of the world’s gdp, a big jump from 2022. tourism helps countries in a few key ways: • creates jobs in hotels, restaurants, and attractions • brings in foreign money when visitors spend • boosts local businesses that serve tourists • encourages investment in infrastructure some countries rely heavily on. Global tourism contributed $10.9 trillion to the world economy (10% of global gdp), up 8.5% year on year. the sector supported 357 million jobs — 6.2% growth from 2023.