New research from the World Travel & Tourism Council (WTTC) has revealed the global Travel & Tourism sector’s contribution to the global economy could reach US$8.6 trillion this year, just 6.4% behind pre-pandemic levels.
In 2019, same sector generated nearly US$9.2 trillion to the global economy.
However, in 2020, the pandemic brought the sector to an almost complete standstill, causing a massive 49.1% drop, representing a loss of nearly US$4.5 trillion.
Research by the global tourism body shows that if the vaccine and booster rollout continue this year, and restrictions to international travel are eased around the world throughout the year, the sector could create 58 million jobs in 2022, ultimately reaching more than 330 million.
This is just 1% below pre-pandemic levels (2019) and 21.5% up from 2020.
In 2019, Travel & Tourism generated 10.4% of global GDP. To reach close to pre-pandemic levels this year, WTTC says governments around the world must continue focusing on the vaccine and booster rollout, allowing fully vaccinated travellers to move freely without the need for testing.
