A. M. According to the latest Economic Impact Research (EIR), the tourism sector will contribute US$11.7 trillion to the global economy.
The World Travel & Tourism Council (WTTC) projects significant growth in the sector worldwide this year, driven by increased traveler spending.
According to the Economic Impact Research (EIR) 2025, international visitor spending is forecast to reach a record $2.1 trillion; an increase of $164 billion, up from the previous high of $1.9 trillion in 2019.
According to this study, during this year, the travel and tourism sector is expected to contribute an all-time high of $11.7 trillion to the global economy, representing 10.3% of global GDP.
In addition, jobs in the sector globally are expected to grow by 14 million by 2025, to 371 million, more than the total population of the U.S.
Julia Simpson, President and CEO of WTTC, said, “People continue to prioritize travel. This is a vote of confidence in our industry and an indicator of its strength”.
“But while the global outlook for travel and tourism is strong, the recovery is not uniform. While some countries and regions are reaching record highs, other major economies are stagnating”.
While the backdrop is positive for many economies around the world, in several major travel and tourism markets, such as the United States, China and Germany, growth has slowed.
In the United States, the world’s most powerful travel and tourism market, international visitor spending remained significantly below 2019 levels in 2024 and is not expected to fully recover this year. In China, international spending was above pre-pandemic levels over the past year, however, growth is expected to slow sharply in 2025.
In the United States, the world’s most powerful travel and tourism market, international visitor spending remained significantly below 2019 levels in 2024 and is not expected to fully recover this year. In China, international spending was above pre-pandemic levels over the past year, however, growth is expected to slow sharply in 2025.
In contrast, other key markets such as Saudi Arabia, which will inject $800 billion into the sector by 2030, is leading the way and setting new benchmarks. European countries such as France and Spain, the world’s top two destinations in terms of visitor levels continue to lead the region, driven by smart investment and global appeal.
A look back to 2024
According to the latest EIR data from the world tourism body, in 2024, the sector contributed 10% of the global economy to reach $10.9 trillion, up 8.5% from 2023 and 6% above the previous peak of 2019.
Jobs grew by 6.2% to 357 million, representing one in 10 jobs worldwide.
International spending also increased by nearly 12% to $1.87 trillion, and domestic spending grew by 5.4% to $5.3 trillion.
The next decade
WTTC forecasts that by 2035, travel and tourism will inject $16.5 trillion into the global economy, representing 11.5% of global GDP. This represents a growth rate of 3.5% per year for a decade, above the 2.5% growth rate of the overall economy.
Jobs are expected to reach one in eight jobs, with more than 460 million.
International spending is projected to reach $2.9 trillion, at a compound annual rate of 3.4%, and domestic spending will grow at a similar rate (3.3%), to $7.7 trillion.
In collaboration with Oxford Economics, WTTC produces annual reports on the economic and employment impact of travel and tourism for 185 economies.
Each year, WTTC also publishes its groundbreaking Environmental Social Research, which shows that emissions from the sector stood at 6.5% of the global total in 2023, underscoring the critical need for continued sustainable innovation as travel and tourism expands.
