wttc
Business Travel Set to Surpass Pre-Pandemic Levels to Reach a Record US$1.5 Trillion in 2024
The World Travel & Tourism Council | October 11, 2024
Perth, Australia: A new report from the World Travel & Tourism Council (WTTC) has revealed that business travel is set to surpass pre-pandemic levels this year, faster than previously predicted, to reach a record US$1.5TN. The rise of remote working during the pandemic had a disproportionate effect on corporate travel, compared to leisure travel, with virtual platforms replacing face-to-face meetings. Last year, leisure travel was just 2.9% behind the 2019 peak, whilst business travel continued to struggle, remaining 5.4% behind. But as business leaders re-emphasised the importance of face-to-face interaction, business travel is ...
WTTC 24th Global Summit 2024 Officially Opens in Perth, Australia
The World Travel & Tourism Council | October 9, 2024
Perth, Australia: The World Travel & Tourism Council (WTTC) has officially opened its 24th Global Summit in the heart of Western Australia’s vibrant capital, Perth (Boorloo). Gathering industry leaders, government officials, and distinguished guests from across the globe, the summit aims to set the strategic direction for the future of the Travel & Tourism sector. In her keynote address, WTTC President & CEO, Julia Simpson, underscored the significance of holding the summit in Perth, a city renowned for its historical connection to the world of exploration, its deep ties to Indigenous heritage, and its modern role as a globa...
Oceania’s Travel & Tourism Sector Could Boost Region’s Economy by US$112BN Over the Next Decade
World Travel & Tourism Council (WTTC) | October 9, 2024
Perth, Australia: A new report by the World Travel & Tourism Council (WTTC) reveals that Oceania’s Travel & Tourism sector could inject an additional US$112BN to the region’s economy by 2034, bringing the total contribution to a record-breaking US$ 336BN. According to the report, in collaboration with VFS Global and launched today at WTTC’s 24th Global Summit in Perth (Boorloo), Western Australia, this boost could also support an extra 1.1 million jobs, raising the total employment in the region supported by Travel & Tourism to 3.5 million by 2034. The report, “Unlocking Opportunities for Travel & Tourism Grow...
WTTC Reveals Pandemic’s Heavy Toll on Women and Youth in Travel & Tourism Jobs
The World Travel & Tourism Council | September 23, 2024
Belem, Brazil: The World Travel & Tourism Council (WTTC), in collaboration with the Kingdom of Saudi Arabia’s Ministry of Tourism, today launched a new report revealing the stark impact of the pandemic on woman and youth employment within the global Travel & Tourism sector. Almost 70 million people working in Travel & Tourism lost their jobs during the pandemic, but women and young people were disproportionately impacted because their roles were more likely to be in the worst affected areas such as hospitality and food services. While the sector has broadly seen a strong recovery, the ‘Social Trends in Travel & T...
U.S. Remains the World’s Most Powerful Travel & Tourism Market
The World Travel & Tourism Council | September 5, 2024
London, UK: The World Travel & Tourism Council today launched its 2024 Economic Impact Trends Report, which has revealed the U.S. as the world’s most powerful Travel & Tourism market, contributing a record-breaking $2.36 TN to the nation’s economy last year. Despite the slow return of spending from international travelers, the U.S. keeps pole position, with almost double the economic contribution of its nearest rival. Following a record-breaking year for Travel & Tourism, the sector continues to be the backbone to many country economies, while supporting millions of jobs globally. The latest report from the global tou...
Travel & Tourism in Latin America Could Boost Region’s Economy by US$260BN Over the Next Decade
The World Travel & Tourism Council | July 3, 2024
WTTC’s latest report highlights actions to boost sector’s growth Mexico City, Mexico: The World Travel & Tourism Council (WTTC), in collaboration with VFS Global, revealed that the Latin American (LATAM) Travel & Tourism sector could add nearly US$260BN to the region’s economy and create nearly eight million new jobs over the next 10 years. According to the report, ‘Unlocking Opportunities for Travel & Tourism Growth in LATAM’, this potential growth is dependent on three key policies to unlock annualised growth of 3.4%, reaching a contribution of nearly US$909.2BN. The report includes a policy package focused on...
Türkiye’s Travel & Tourism Sector Reached Record-Breaking New Heights Last Year
The World Travel & Tourism Council | June 13, 2024
London, UK: The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) has revealed Türkiye’s Travel & Tourism sector broke all records last year, reaching new milestones across four key metrics. In 2023, the sector contributed TRY 3.11TN to the economy, accounting for 12% of total GDP. This is a significant increase of almost 30% from the previous peak in 2019. The sector also supported more than 3.2MN jobs, representing one in 10 jobs across the country, and more than 18% above the 2019 high point. International and domestic visitor spending also exceeded their previous records, reaching TRY 1.68TN a...
Saudi Arabia’s Travel & Tourism Breaks All Records
World Travel & Tourism Council | June 10, 2024
Last year, the sector grew by more than 32% to contribute a record-breaking SAR 444.3BN to Saudi’s GDP, representing 11.5% of the entire economy, exceeding previous record by almost 30%. London, UK: The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) has revealed a record-breaking year for Travel & Tourism in Saudi Arabia, with new records in GDP contribution, sector jobs and visitor spend. Saudi Arabia’s Travel & Tourism sector is now soaring past all previous records, testament to the country’s commitment to becoming a global tourism hot spot. Last year, the sector grew by more tha...
