How Much Does Travel and Tourism Impact the Global Economy?

The World Travel & Tourism Council’s (WTTC) latest Economic Impact Research expects the travel and tourism industry to employ one in eight people globally and generate 11 percent of the world’s GDP by 2035. 

The travel industry is only expected to grow, according to the latest research, which was conducted in partnership with Oxford Economics. 

In 2024, the global travel and tourism industry generated $10.9 trillion, which was 10 percent of the global GDP. It grew 8.5 percent last year and employed 357 million jobs, representing one in ten workers globally. 

Domestic travel generated $5.3 trillion in spending, while international travel generated $1.89 in spending worldwide. 

This year, the WTTC data predicts the travel industry will generate $11.8 trillion to the global GDP, supporting 371 million jobs. Global international spending will grow 11.4 percent to surpass pre-pandemic levels, to over $2 trillion. 

“One of the standout highlights is the return of international traveler spend,” said Julia Simpson, President & CEO of WTTC. “...This area has taken longer to recover since the pandemic…Despite ongoing pressures, such as rising living costs and broader economic uncertainty, travelers are spending more than ever before. In fact, we’re forecasting international traveler spending to reach a historic $2.1 trillion this year.”

Over the next ten years, the industry will add an additional 4.5 million jobs, supporting one in eight workers across the globe. It’ll also generate $2.5 trillion, comprising about 11 percent of global GDP.

Regional-specific economic impact data will be released in the coming weeks. 

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