The World Travel & Tourism Council (WTTC) is projecting a record-breaking year for travel and tourism in 2024, with the sector’s global economic contribution set to reach an all-time high of US$11.1 trillion.
According to the global tourism body’s 2024 Economic Impact Research (EIR), travel and tourism will contribute an additional US$770 billion over its previous record, stamping its authority as a global economic powerhouse, generating one in every ten dollars worldwide.
As the global sector soars past its pre-pandemic prosperity, the WTTC expects 142 countries out of 185 analysed to outperform previous national records.
In partnership with Oxford Economic, WTTC’s latest EIR showcases a sector brimming with opportunities, underpinning almost 348 million jobs globally. This represents an increase of more than 13.6 million jobs compared with its highest point in 2019.
International visitor spending is expected to come within touching distance of the 2019 peak (US$1.89…