Economic Impact Report
Italy’s Travel & Tourism Could Reach Pre-Pandemic Levels Next Year, Reveals WTTC Report
WTTC | May 27, 2022
Almost half a million jobs could be created in Italy’s Travel & Tourism sector over the next decade The growth in Travel & Tourism to outstrip Italy’s GDP London, UK: The World Travel & Tourism Council (WTTC) has revealed Italy’s Travel & Tourism sector will provide a significant boost to the country’s economic recovery and could almost reach pre-pandemic levels next year, just 0.3% below 2019 levels. The latest forecast from WTTC’s Economic Impact Report (EIR) shows the sector’s contribution to GDP could reach more than €194 billion next year, while employment in the sector could also hit pre-pandemic leve...
Middle East Travel & Tourism Sector Expected to Create 3.6 Million New Jobs Within the Next Decade
WTTC | May 10, 2022
Travel & Tourism GDP set to outstrip the overall economy for the next 10 years London, UK: The World Travel & Tourism Council’s latest Economic Impact Report (EIR) reveals the Travel & Tourism sector in the Middle East is expected to create nearly 3.6 million new jobs over the next decade. The forecast from the World Travel & Tourism Council (WTTC), which shows an average of 360,000 new jobs every year, also reveals the sector will lead the region’s economic recovery, with its average annual growth set to outpace the overall economy for the next 10 years. According to the report, Travel & Tourism’s GDP is for...
WTTC Research Reveals Travel & Tourism Sector’S Contribution to Japan’s GDP Dropped by $138 Billion in 2020
WTTC | June 10, 2021
London, UK - June 10, 2021 - The World Travel & Tourism Council’s annual Economic Impact Report (EIR) today reveals the dramatic impact COVID-19 had on Japan’s Travel & Tourism sector, wiping out $138 billion from the nation’s economy. The annual EIR from the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector, shows the sector’s contribution to GDP dropped a staggering 37%. The Travel & Tourism sector’s impact on the nation’s GDP fell from USD$ 373.0 billion (7.1%) in 2019, to USD$ 234.9 billion (4.7%), just 12 months later, in 2020. The year of damag...
WTTC Reveals U.S. Travel & Tourism Sector Suffered Loss of $766 Billion in 2020
WTTC | April 19, 2021
MIAMI, FL - April 15, 2021 - The annual Economic Impact Report (EIR) from the World Travel & Tourism Council (WTTC) today revealed the U.S. Travel & Tourism sector suffered a significant loss of $766 billion* in 2020. In 2019, the U.S. Travel & Tourism sector accrued a GDP of nearly $1.9 trillion. However, WTTC’s research found that in 2020, a year in which the COVID-19 pandemic devastated the industry, the country saw a 41% decrease to the sector’s GDP contribution. With the U.S. being the largest Travel & Tourism economy in the world, the country’s recovery plays an important role in the rebound of the sector on a g...
WTTC Research Reveals Travel & Tourism Sector’s Contribution to UK GDP Slumped a Shocking £148 Billion in 2020
WTTC | April 7, 2021
London, UK - April 7, 2021 - The World Travel & Tourism Council’s annual Economic Impact Report (EIR) today reveals that the dramatic collapse of the UK’s Travel & Tourism sector has wiped out a staggering £148 billion from the UK economy. The annual EIR from the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector, shows the sector’s contribution to GDP, dropped by a precipitous 62.3%. Travel & Tourism GDP fell from £238 billion (10.1%) in 2019 before the pandemic struck, to just £90 billion (4.2%), a mere 12 months later, in 2020. The year of crippling ...
