Travel set to break all records in 2024

The World Travel & Tourism Council is projecting a record-breaking year for 2024, with the sector’s global economic contribution set to reach an all-time high of $11.1 trillion

Apr 9, 2024

According to the latest Economic Impact Research (EIR) by the global tourism body, Travel & Tourism is set to contribute an additional $770BN compared to its previous record, solidifying its status as a global economic powerhouse and accounting for one-tenth of global revenue. As the industry surpasses its pre-pandemic levels, WTTC predicts that 142 out of 185 countries analyzed will exceed their previous national tourism records.

Key takeaways

Collaborating with Oxford Economics, WTTC's latest EIR highlights a sector full of opportunities, supporting nearly 348 million jobs globally. This marks an increase of over 13.6 million jobs compared to the peak in 2019.

Spending by international visitors is anticipated to nearly match the 2019 peak, reaching $1.89 trillion, while domestic tourism spending is projected to surpass any previous year, reaching $5.4 trillion.

Looking forward, WTTC envisions a promising decade ahead characterized by strong growth and unmatched career prospects. By 2034, the tourism sector is expected to inject a remarkable $16 trillion into the global economy, constituting 11.4% of the total economic landscape.

Get the full story at World Travel & Tourism Council (WTTC)

Read also U.S. Travel & Tourism Sector exceeding previous records despite slow return of international spend

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