WTTC reveals tourism industry’s contribution to global GDP could reach $8.6 trillion in 2022

Major new research from the World Travel and Tourism Council has revealed that as the global tourism industry begins to recover from the ravages of the COVID-19 pandemic, its contribution to the global economy could reach $8.6 trillion this year.

The research shows that if the vaccine and booster rollout continue at pace this year, and restrictions to international travel are eased around the world throughout the year - increasing the number of people who can travel ‘quarantine free’, the sectors contribution to the global economy could reach $8.6 trillion, just 6.4% down on pre-pandemic levels.

In 2019, before the pandemic struck, the tourism industry generated nearly $9.2 trillion to the global economy. However, in 2020, the pandemic brought the sector to an almost complete halt, causing a massive 49.1% drop, representing a severe loss of nearly $4.5 trillion.

WTTC’s research also shows that the sector’s contribution global employment could reach more than 330 million, just 1% below pre-pandemic levels and up 21.5% up on 2020 representing a massive 58m more jobs.

Julia Simpson, WTTC President and Chief Executive notes “over the past two years, due to severe travel restrictions around the world, the global Travel & Tourism sector has suffered tremendous losses.

“2022 is poised for a strong recovery if governments continue to open up and remove restrictions to travel. Our sector could recover more than 58 million jobs and generate $8.6 trillion which would boost economic recovery around the world.

“Governments must shift their risk assessment from entire countries to the individual traveller and allow the fully vaccinated to travel freely.

“As people start travelling again, governments must implement simplified rules, including the use of digital solutions. Travel of the future should be contactless while guaranteeing safety. “