WTTC Top 5 Tourism Markets
The World Travel & Tourism Council (WTTC) has released its 2024 Economic Impact Trends Report revealing which countries have contributed the most to the world economy through travel/tourism spend:
- USA: $2.36 trillion
- China: $1.30 trillion, with YOY growth of 135.8% despite late reopening post-COVID
- Germany: $487.6 billion
- Japan: $297.0 billion
- UK: $295.2 billion
However, WTTC predicts that over the next 10 years:
- China will overtake the US as #1.
- India will move up to #4.
- Travel/tourism investment will return to 2019 level by 2025 despite worldwide high interest rates.
- Technological advances, particularly in AI, will enhance the travel experience and drive future growth.
2024 global travel & tourism statistics:
- % of global GDP: 10.0%
- YOY spend growth: +12.1%
- Global employment: 348 million jobs, 10.4% of total
- YOY job growth: + 18 million
