The global Travel & Tourism sector is projected to create 9 crore (90 million) new jobs by 2035, according to a report published by the World Travel & Tourism Council (WTTC) in collaboration with Oxford Economics. This significant growth is expected to see the sector supporting a total of 43 crore (430 million) jobs worldwide within the next 13 years.
The report highlights the sector’s robust recovery and substantial future potential. Beyond job creation, Travel & Tourism’s economic contribution is forecast to reach USD 15.5 trillion (15.5 lakh crore) globally by 2035. This represents an increase of over 49% compared to its estimated contribution of USD 9.5 trillion (9.5 lakh crore) in 2022. The sector’s share of the global economy is also expected to rise from 8.6% in 2022 to 11.6% by 2035, underscoring its growing importance as an economic powerhouse.
Pre-Pandemic Performance and Pandemic Impact
Prior to the global pandemic, in 2019, the Travel & Tourism sector supported more than 32 crore jobs worldwide. However, the unprecedented crisis led to a substantial loss of 6.2 crore jobs in 2020, demonstrating the severe impact on the industry. The report indicates that the sector is now in a strong recovery phase, with 12.6 crore jobs currently supported globally.
Future Outlook and Global Economic Significance
The WTTC report underscores the sector’s resilience and its critical role in global economic recovery and future prosperity. The projections for job creation and economic contribution by 2035 signify a period of sustained growth and expansion. The sector is positioned as a key driver of employment and wealth generation, moving beyond its pre-pandemic performance. Countries like India are noted for their significant growth potential in tourism, being among the fastest-growing markets that will contribute to these global figures. The overall outlook points to Travel & Tourism becoming an even more vital component of the global economy.
Key Points:
- 9 crore (90 million) new jobs expected to be supported by the Travel & Tourism sector globally by 2035.
- 12.6 crore (126 million) jobs currently supported globally by the sector.
- 43 crore (430 million) jobs total jobs the sector is projected to support globally by 2035.
- USD 15.5 trillion (15.5 lakh crore) estimated economic contribution of the sector globally by 2035.
- USD 9.5 trillion (9.5 lakh crore) estimated economic contribution in 2022 globally.
- Over 49% increase in the sector’s economic contribution by 2035 compared to 2022.
- 8.6% of global economy share of Travel & Tourism in global GDP in 2022.
- 11.6% of global economy projected share of Travel & Tourism in global GDP by 2035.
- More than 32 crore jobs supported by Travel & Tourism globally in 2019.
- 6.2 crore jobs lost in Travel & Tourism globally in 2020 due to the pandemic.
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