Travel & tourism sector worldwide … millions of new jobs anticipated

According to the World Travel & Tourism Council’s latest Economic Impact Report (EIR) the Travel & Tourism sector will generate approximately 126 million new jobs within the next decade.

The forecast represents the travel & tourism private sector worldwide and displays that the sector will empower the global economic recovery by creating one in three of all new jobs. The report was presented at WTTC’s Global Summit in the Philippines.

The EIR report forecasts Travel & Tourism’s GDP growth at an average rate of 5.8 percent a year from 2022 to 2032. And there is more optimism, since the report also shows that global Travel & Tourism GDP could reach pre-pandemic levels by 2023. This will coincide by a boost in employment in the sector.

The sector would have contributed more to the global economy and employment, if it weren’t for the impact of the pandemic. This led to decreased recovery around the world, since many countries reinstated severe travel restrictions. All in all, the report shows that the – due to the impact of the pandemic – seems to be back on its feet again.