The travel boom is here, and with more people vacationing, or traveling for work, travel and tourism will impact the world’s economy in a big way in 2024.
The travel industry is set to make a huge impact on the global economy this year.
Predictions from the Travel & tourism Economic Impact Report by the World Travel and tourism Council found that in 2024, the tourism“>travel and tourism industry will be responsible for an extra $11 trillion contributed to the global economy, Bloomberg News reported.
Economic Growth
The current prediction surpasses the $10 trillion the industry reached in 2019.
The increase is a clear indicator of the industry’s significance in tourism“>economic growth around the world. The growth can be attributed to several factors, including improved infrastructure, consumer confidence, willingness to spend, and raises in disposable income.
As more people have the desire to travel and have the means to do it, there’s a greater opportunity to fuel the…