For over 20 years, the World Travel & Tourism Council (WTTC) has spearheaded global analysis of the economic impact of Travel & Tourism. This research, based on Tourism Satellite Accounting (TSA) methodology, has established the contribution of the sector to GDP, income and employment in 181 countries, measured in absolute size, share of the economy and growth.
WTTC has now taken this research one step further and assessed the role Travel & Tourism plays in the world economy in comparison to other economic sectors. The results of these comparisons, undertaken by Oxford Economics and sponsored by American Express and TUI AG, provide new perspectives on the relative significance of the industry against an assortment of other sectors at the global level and for each world region.
Did you know that…?
• Travel & Tourism contributes more to GDP than automotive manufacturing in every region of the world.
• With 98 million people directly employed in 2011, this industry directly employs:
• 6 times more people than automotive manufacturing
• 5 times more than chemicals manufacturing
• 4 times more than mining
• Travel &Tourism supports more jobs than the automotive and chemicals manufacturing industries combined across every region of the world.
• In every region of the world, T&T directly supports more jobs than the financial services, communications and mining industries.
• For every one dollar spent on Travel & Tourism, 3.2 dollars are generated in GDP across the entire economy.
• 1 million dollars in tourism sales generates twice as many jobs than the same 1 million dollars in financial services, communications and automotive manufacturing.
Follow this link to download Benchmarking Travel & Tourism Global Summary.
Follow this link to download Benchmarking Travel & Tourism Sector Executive Summary.
The World Travel & Tourism Council (WTTC) is the forum for business leaders in the Travel & Tourism industry. With Chief Executives of some one hundred of the world’s leading Travel & Tourism companies as its Members, WTTC has a unique mandate and overview on all matters related to Travel & Tourism.
WTTC works to raise awareness of Travel & Tourism as one of the world’s largest industries, supporting more than 258 million jobs and generating 9.1 per cent of world GDP.
This article is uploaded by Majbritt Magnussen, administrator on ‘Views On Tourism’. Pictures from India and Bhutan.