wttc
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...
Travel & Tourism in China Set to Surpass Pre-Pandemic Levels This Year
The World Travel & Tourism Council | June 6, 2024
Beijing, China: The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) has revealed today that China’s Travel & Tourism sector is set to inject a record-breaking ¥12.62TN into the national economy by the end of this year. In partnership with Oxford Economics, a world leader in global economic forecasting, WTTC’s latest research shows that domestic travel spend is also set to reach new heights this year – expected to contribute ¥6.79TN into China’s economy in 2024. According to the global tourism body, employment in Travel & Tourism is expected to represent 10.6% of all jobs in the countr...
Travel & Tourism Set to Contribute a Record $182BN to the Canadian Economy This Year
The World Travel & Tourism Council | May 24, 2024
London, UK: The World Travel & Tourism Council (WTTC) is forecasting an historic year for Canada’s Travel & Tourism sector this year, with the economic contribution set to reach an all-time high of almost $182BN. Reaching $182.1BN in 2024 represents an additional $8.1BN over its previous peak, affirming the sector’s significant role as an economic force, responsible for generating one in every 15 dollars of economic activity. In partnership with Oxford Economics, WTTC’s latest research highlights a sector abundant with opportunities, supporting 1.84MN Canadian jobs, with an increase of 120,000 jobs compared to the previou...
Travel & Tourism Set To Add a Record QAR 81BN to Qatar’s Economy
The World Travel & Tourism Council | May 10, 2024
Sector set to break all records in 2024 Dubai, UAE: The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) has revealed the Qatari Travel & Tourism sector reached new heights last year, with GDP contribution, jobs and domestic traveller spend all surpassing previous peaks. Last year, the Travel & Tourism’s GDP contribution grew by 31% to reach a record-breaking QAR 81.2BN, representing 10.3% of Qatar’s total economic output, demonstrating the sector’s importance to the national economy. The sector also proved to be a vital source of employment, creating more than 20,300 new jobs, and rais...
Travel & Tourism Injected €215BN Into Italy’s Economy
The World Travel & Tourism Council | May 6, 2024
Employment and international visitor spend breaks all records Milan, Italy: The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) has revealed Italy’s Travel & Tourism sector contributed €215BN, representing 10.5% of Italy’s total economic output last year, underscoring the sector’s prominence as a backbone of the Italian economy. The sector also proved a significant source of employment in 2023, breaking all records generating nearly 185,000 new jobs, raising the total to 2.97MN nationwide, representing one in every eight jobs across the country. The resurgence of international visitors to It...
AI Set to Shape the Future of Travel & Tourism, Says WTTC
The World Travel & Tourism Council | April 18, 2024
New York, U.S.: New reports from the World Travel & Tourism Council (WTTC) and Microsoft highlight the transformative power of Artificial Intelligence (AI) and its role in shaping the future of Travel & Tourism. The final two reports of a series on Artificial Intelligence from WTTC entitled "Responsible Artificial Intelligence (AI): Overview of AI Risks, Safety & Governance" and "Artificial Intelligence (AI): Global Strategies, Policies & Regulations," underscore a commitment to a digital future that prioritizes safety, ethical considerations, and responsible AI adoption. Launched during the global tourism body’s part...