China’s Travel & Tourism sector
China’s Travel & Tourism Sector Forecast to See Swift Post-Pandemic Recovery Despite Prolonged Restrictions
WTTC | May 23, 2023
11.5MN more Travel & Tourism jobs in China this year Guangzhou, China: The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals China’s Travel & Tourism sector’s GDP contribution is forecast to grow more than 150% this year. The sector is set to contribute CNY 9.9TN to the economy this year, edging closer to the 2019 pre-pandemic high of CNY 12.27TN. Despite the effects of the pandemic spanning into 2022 in China, WTTC is forecasting for the sector to create almost 11.5MN jobs this year, recovering one in two of the jobs lost to reach 74.7MN. This means around one in 10 workers in...
China’s Travel & Tourism Sector Could Reach CNY 11 Trillion This Year, Says WTTC
WTTC | February 22, 2022
London, UK - February 22, 2022 - New research from the World Travel & Tourism Council (WTTC) has revealed China’s Travel & Tourism sector’s contribution to GDP could reach CNY 11 trillion this year, just 5.2% short of pre-pandemic levels. In 2019, before the pandemic struck, China’s Travel & Tourism sector’s contributed CNY 11.5 trillion to GDP (11.6% of the country’s economy). However, in 2020 the pandemic had a major impact on the sector and Travel & Tourism’s contribution to the Chinese economy fell by a staggering 59.9%, to CNY 4.6 trillion. Latest research from the global tourism body shows that as t...
