The travel industry is only rising. The World Travel and Tourism Council (WTTC) has estimated that the sector’s contribution to global GDP in 2024 will rise by 12.1% year-over-year to $11.1 trillion.
Based on these predictions, the travel industry would account for 10% of the global GDP. This marks a 7.5% increase from the previous record set in 2019 and could lead the sector to reach unprecedented levels.
“Despite concerns last year about a potential global recession and high inflation, this year we see travel and tourism emerging as a significant economic driver globally,” said Julia Simpson, CEO of the WTTC.
The sector is expected to support nearly 348 million jobs in 2024, which is 13.6 million more jobs than in 2019, the previous pre-pandemic record.
