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

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.