The Importance of the Global Tourism Industry and Why it’s Revival is Necessary

The Importance of the Global Tourism Industry and Why it’s Revival is Necessary

By Erika Masako Welch, 05 October 2022
tourism industry

Tourism is a leading economic driver for most countries around the world. In 2019, travel and tourism accounted for 10.4% of the global GDP ($9.2 trillion USD), though the share was halved to 5.5% global GDP contribution in 2020 due to the pandemic’s restrictions on mobility. The World Travel & Tourism Council expects the sector’s contribution could reach $8.6 trillion by the end of 2022, just 6.4% down from pre-pandemic levels. Travel and Tourism also contributes to 8% of employment around the world, contributing to 330 million jobs worldwide.

tourism gdp contribution

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