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Alongside our Insights experiences, things to do in prague in october WTTC produces reviews on the financial and employment impression of Travel & Tourism for 185 international locations/economies and 26 geographic or economic areas on this planet. These studies, at the side of Oxford Economics, are an important tool in serving to us to equip public and private sector our bodies with hard proof of the huge worth Travel & Tourism brings to the financial system, in order that their policymaking and investment decisions help our sector.

Prior to the pandemic, Travel & Tourism (including its direct, indirect, and induced impacts) accounted for 1 in 5 new jobs created across the world throughout 2014-2019, and 10.3% of all jobs (334 million) and 10.4% of worldwide GDP (US$ 10 trillion) in 2019. Meanwhile, worldwide visitor spending amounted to US$ 1.9 trillion in 2019.

WTTC’s newest annual research reveals:- In 2022, the Travel & Tourism sector contributed 7.6% to international GDP; a rise of 22% from 2021 and solely 23% below 2019 ranges.
- In 2022, there have been 22 million new jobs, representing a 7.9% increase on 2021, and only 11.4% under 2019.
- Domestic customer spending increased by 20.4% in 2022, only 14.1% beneath 2019.
- International customer spending rose by 81.9% in 2022, but nonetheless 40.4% behind 2019 numbers.

Regional overview 2019

Regional overview 2022

Regional overview 2022 vs 2019

Why conduct research?

From the outset, our Members realised that hard economic facts were wanted to help governments and policymakers really perceive the potential of Travel & Tourism. Measuring the scale and growth of Travel & Tourism and its contribution to society, due to this fact, performs a significant part in underpinning WTTC’s work.

What analysis does WTTC carry out?

Every year, WTTC and Oxford Economics produce experiences covering the economic contribution of our sector in 185 nations, for 26 economic and geographic regions, and for greater than 70 cities. We also benchmark Travel & Tourism in opposition to different economic sectors and analyse the influence of government insurance policies affecting the sector akin to jobs and visa facilitation.