The latest Economic Impact Report (EIR) from the World Travel & Tourism Council (WTTC), which represents the global travel and tourism private sector, reveals that the U.S. travel and tourism is projected to contribute over $2.6 billion in gross domestic product (GDP) to the U.S. economy over the next decade.
By 2032, the U.S. travel and tourism is expected to make up 9.2% of the entire U.S. economy based on an average annual growth rate of 3.9% – nearly double the anticipated 2% growth rate of the U.S. economy overall.
“The long-term recovery of the U.S. travel and tourism looks positive, bringing more than 6 million new jobs to the U.S. economy over the next 10 years,” said Julia Simpson, WTTC President and CEO. “But the landscape is highly competitive, and the U.S. is losing out on international visitors.”
Simpson continued: “Full recovery of travel and tourism relies on a significant rebound of international travel. While the new National Travel and…