TRAVEL&TOURISM
ECONOMIC
IMPACT2022
GLOBALTRENDS
AUGUST2022JuliaSimpsonandcontinuingthetoconditionseasetoofdestinations.”entrysupportingtravelequitablevaccineexperiences,distributionwhileenhancingofferingpreparednesssafeforfuturecrises,needtofocusonGovernmentsco-existingwithCOVID-19workifleaderstogetherandprovideclearandconsistentrules.recoveryofthesectoronlythepossiblebewillswiftcrisis,thisthroughoutinstrumentalbeengovernmenthassupport“While
,President&CEO,WorldTravel&TourismCouncilECONOMIC
IMPACT2022
THEECONOMICIMPACTECONOMIC&TOURISMGLOBALTRAVELOFTHE
1/10
JobsChangeinTravel&TourismGDPTravel&TourismGDP
ofallglobalnetnewjobs
werecreatedbyTravel&
333m
10.3
ofglobalemployment
supportedbyTravel&Tourism
1
(2014-2019)
Tourism
/
2019
4
%
(percentageofglobalGDP)
Changeinjobs
-50.4
1/12
-62m
(Yearonyear)
271m
-$4.9trillion
ofglobalemployment
5.3
Jobslost
2020
(Yearonyear)
GDPloss
%
%
hiletheeffectoftheCOVID-19pandemichasbeenfeltacrosstheentireTravel
&Tourismecosystem,2021sawthebeginningoftherecoveryforthesector.For
2021over30years,theWorldTravel&TourismCouncil(WTTC)hasbeenquantifying
WtheeconomicimpactofTravel&Tourism,highlightingtheimportanceofthesector
globally.The2022annualresearchwhichcovers185countries/economies,and26regions
oftheworld,revealstheextentoftherecoveryin2021.
Priortothepandemic,Travel&Tourism(includingitsdirect,indirect,andinducedimpacts)
wasoneoftheworld’slargestsectors,accountingfor1in4ofallnewjobscreatedinthe
6.1%world,10.3%ofalljobs(333million),and10.3%ofglobalGDP(USD9.6trillion).Meanwhile,
internationalvisitorspendingamountedtoUSD1.8trillionin2019(6.8%oftotalexports).
Travel&Tourismenablessocio-economicdevelopment,jobcreationandpoverty
reduction.Thisinturndrivesprosperityandsignificantpositivesocialimpact,providing
uniqueopportunitiestowomen,minorities,andyoungpeople.ThebenefitsofTravel
&TourismspreadfarbeyonditsdirectimpactsintermsofGDPandemployment,with
indirectgainsextendingthroughtheentiretravelecosystemaswellasthesupplychain
+21.7%linkagestoothersectors.
+$1trillionGDPgain
TheeffectofCOVID-19emphasisedthetremendousimportanceandpositivecontribution
ofTravel&Tourism.In2020,62millionjobswerelost,leavingjust271millionemployed
acrossthesectorglobally.This18.6%decreasewasfeltacrosstheentiresector,with
SmallandMediumSizedEnterprises(SMEs)—whichmakeuparound80%ofallglobal
businessesinthesector—beingparticularlyaffectedalongsidewomen,theyoungand
minorities.Meanwhile,thesectorsufferedlossesofalmostUSD4.9trillion,withitsglobal
289mcontributiontoGDPdecliningby50.4%year-on-year,comparedtoa3.3%declineofthe
1/11ofglobalemploymentglobaleconomy.
While2021sawthebeginningoftherecoveryfortheglobalTravel&Tourismsector,this
wasslowerthanexpected,dueinparttotheimpactoftheOmicronvariant,stringent
andinconsistentborderrestrictionsandthelackofcoordinationamonggovernmentsto
tacklethepandemic.Travel&Tourism’scontributiontoGDPincreasedbyUSD1trillion
(+21.7%rise)in2021toreachUSD5.8trillion,whilethesector’sshareofthewholeeconomy
+18.2mincreasedfrom5.3%in2020to6.1%in2021.Additionally,thesectorsawtherecoveryof
Jobsgained
18.2millionjobs,representinganincreaseof6.7%.
However,thefutureoutlookispositive,andoursectorisonceagainshowingitsresilience
andabilitytobounceback.Despitethedifficultiesthesectorhasbeenfacing,our
projectionspointtoastrongdecadeofgrowth.Travel&TourismGDPissettogrowon
averageby5.8%annuallybetween2022and2032,outpacingthegrowthoftheoverall
economy(2.7%peryear).OurresearchshowsthatTravel&TourismGDPcouldreturnto
2019levelsbytheendof2023.Whatismore,thesectorisexpectedtocreatenearly126
millionnewjobswithinthenextdecade.Whilegovernmentsupporthasbeeninstrumental
throughoutthiscrisis,theswiftrecoveryofthesectorwillonlybepossibleifleadersand
publicofficialsworktogetherandprovideclearandconsistentrules.Governmentsneed
tofocusonco-existingwithCOVID-19whileenhancingpreparednessforfuturecrises,
offeringsafetravelexperiences,supportingequitablevaccinedistribution,andcontinuing
toeasetheconditionsofentrytodestinations.
WTTCbelievesthatthebestpolicyandplanningdecisionsaremadewithauthoritative,
reliable,andaccessibledata.ThatiswhyWTTCwillcontinuetoengagewithgovernments
andtheprivatesectortodisseminateinformationandprovidedatatoenableleaders
acrosstheworldtobuildaclearpathtoasustainableandinclusiverecoveryofthesector.
JuliaSimpson
President&CEO
WorldTravel&TourismCouncil
Formoreinformation,pleasecontact:
NejcJus,HeadofResearch,WorldTravel&TourismCouncil
Nejc.Jus@WTTCCONTENTS
1GLOBALOVERVIEW4
1.1Travel&TourismGDP5
1.2Travel&TourismEmployment8
1.3Forecast:2022-20329
2REGIONALHIGHLIGHTS11
3KEYTHEMES20
4LEAGUETABLES26
GLOSSARY31
GLOBAL
1OVERVIEW