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Against a backdrop of economic uncertainty, the World Travel & Tourism Council’s latest research shows that global travel and tourism is projected to grow strongly this year, reaffirming its role as cornerstone to major world economies, as travellers are expected to spend more than ever before.
According to WTTC’s 2025 Economic Impact Research, international visitor spending is forecast to reach an historic US$2.1TN in 2025, surpassing the previous high of US$1.9TN in 2019 by US$164BN.
This year, travel and tourism is expected to contribute an all-time high of US$11.7TN to the global economy, accounting for 10.3 per cent of global GDP.
Jobs around the world supported by the sector are expected to grow by 14MN in 2025, to reach 371MN worldwide, more than the population of the U.S.
“People are continuing to prioritise travel,” says WTTC President and CEO Julia Simpson.
“That’s a powerful vote of confidence in our sector and a sign of its enduring strength.
“But while the global picture in travel and tourism is strong, the recovery remains uneven.
“Whilst some countries and regions are producing record-breaking numbers, other large economies are plateauing.”
Whilst there is some positive news for many economies around the world, in a number of major travel and tourism markets such as the U.S., China, and Germany, growth has slowed.
In the U.S., the world’s most powerful travel and tourism market, international visitor spend remained significantly below 2019 levels in 2024 and is not expected to fully recover this year. In China, while international spending was above pre-pandemic levels last year, growth is expected to slow sharply in 2025.
By contrast, other key markets such as Saudi Arabia, which will inject US$800BN into the sector by 2030, is ahead of the curve and setting new benchmarks. European countries such as France and Spain, the world’s top two destinations in terms of visitor numbers, continue to lead the region’s resurgence, powered by smart investment and global appeal.
According to the global tourism body’s latest EIR data, in 2024, travel and tourism contributed 10 per cent of the world’s economy to reach $10.9TN – an 8.5 per cent increase on 2023, and 6 per cent above the previous peak of 2019.
Jobs grew 6.2 per cent to reach 357MN, accounting for one in 10 jobs around the world.
International spending also increased by almost 12 per cent, to US$1.87TN and domestic spending grew 5.4 per cent to US$5.3TN.
WTTC forecasts that by 2035, travel and tourism will inject US$16.5TN into the global economy, accounting for 11.5 per cent of global GDP. That’s a decade-long growth rate of 3.5 per cent annually, outpacing the wider economy’s 2.5 per cent.
Jobs are expected to reach one in eight jobs, with more than 460MN.
International spending is anticipated to reach US$2.9TN, with a CAGR of 3.4 per cent, and domestic spending will grow at a similar rate (3.3 per cent), to reach US$7.7TN.
In collaboration with Oxford Economics, WTTC produces reports annually on the economic and employment impact of travel and tourism for 185 economies.
Each year, WTTC also releases its groundbreaking Environmental Social Research, which shows the sector’s emissions stood at 6.5 per cent of the global total in 2023 – underscoring the critical need for continued sustainable innovation as travel and tourism expands.
