The World Travel & Tourism Council (WTTC) has predicted an all-time best US$11.1 trillion contribution to the global economy from travel and tourism in 2024.
This year's Economic Impact Report (EIR) predicts that travel and tourism will contribute an extra US$770 billion against its previous record, representing one in every 10 dollars spent across the world.
Record-breaking performance won't come as a surprise to many in travel: RateHawk, Latin Routes and the Advantage Travel Partnership among others announced record-breaking periods during this year's peaks campaign.
142 countries out of 185 analysed are expected to exceed previous national bests in terms of tourism revenue generated.
Beyond recovery
Julia Simpson, the council's president and CEO, said this year's performance "isn’t just about breaking records, we’re no longer talker about a recovery – this is a story of the sector back at its best after a difficult few years, providing a significant economic boost to countries around the world and supporting millions of jobs."
Looking ahead beyond this year, the WTTC forecasted that the sector will charge the global economy with US$16 trillion in value, representing 11.4% of the global economy and nearly 12.2% of the workforce.
