13-Jun-2017 8:28 AM

WTTC report shows travel and tourism supports 108 million jobs, 10.2% of global GDP

World Travel & Tourism Council (WTTC) released (12-Jun-2017) its 2017 Benchmarking Report, finding the global travel and tourism sector directly sustains twice as many jobs as the financial sector and five times as many jobs as the chemicals manufacturing sector. Report highlights:

  • In 2016 travel and tourism supported 108 million jobs directly, and 292 million in total, taking the direct, indirect, and induced impact into account;
  • Travel and tourism generated 10.2% of global GDP, contributing USD7.6 trillion in 2016. This makes the sector’s GDP contribution larger than that of banking, mining, agriculture, automotive manufacturing, and chemicals manufacturing;
  • Global travel and tourism is forecast to grow by 4% p/a over the next decade, significantly faster than the global economy at 2.7% and all other sectors covered in the study apart from the financial sector and banking;
  • Regional highlights:
    • Africa: USD166 billion in GDP and 20.7 million jobs;
    • Americas: USD2.2 trillion in GDP and 42.7 million jobs;
    • Asia Pacific: USD2.3 trillion in GDP and 159.2 million supported jobs;
    • Europe: USD2.0 trillion in GDP and 36 million jobs;
    • Middle East: USD227 billion in GDP and 5.7 million supported jobs. [more - original PR]

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