Key Insights from WTTC Summit

Global Travel & Tourism Sector Shows Resilience and Growth at WTTC Summit in Rome

The World Travel & Tourism Council (WTTC) has launched its latest report during the 25th Global Summit in Rome, highlighting the significant contributions of the travel and tourism sector to global economies. Europe, in particular, remains a key player, with five of the world’s top ten most powerful travel and tourism markets by GDP.

Europe’s Leading Role

The return of the WTTC Global Summit to Europe for the first time since the pandemic underscores the region’s leadership in global tourism. Italy, hosting the summit as a G7 nation, has reinforced its role in shaping the future of international tourism. In 2024, Italy’s travel and tourism sector contributed $248.3 billion to its GDP, driven by international visitor spending and a thriving meetings and events industry.

Germany remains the world’s third-largest travel and tourism market, contributing $525 billion to its GDP in 2024. Despite a decrease in international visitor spending, the UK added $367 billion to its economy, maintaining its position as a dynamic market. France, the most visited destination globally, generated over $289 billion from travel and tourism, while Spain added $270 billion.

Global Market Dynamics

The WTTC report highlights the U.S. as the world’s most powerful travel and tourism market, contributing $2.6 trillion to GDP in 2024. However, the forecast for international visitor spending in the U.S. indicates a decline of $12.5 billion in 2025, with growth projected at only +0.7%. The WTTC warns that without strategic destination promotion and traveler-friendly policies, the U.S. may lose its competitive edge.

In contrast, China, the world’s second-largest travel and tourism market, contributed $1.64 trillion to its economy in 2024. It is forecast to grow by 22.7% in 2025, adding $260 billion to its economy, showcasing China’s rapid return to international prominence.

Middle East and Asia-Pacific Growth

The Middle East remains a rapidly growing region for travel and tourism, with Saudi Arabia emerging as a global powerhouse. The region is witnessing significant investments in infrastructure, including airports and hospitality projects, which indicates long-term confidence in its tourism potential.

In the Asia-Pacific region, travel and tourism are expected to generate a substantial number of new jobs, with the sector’s share of global employment projected to increase. By 2035, one in eight jobs worldwide will be supported by travel and tourism, with an additional 91 million new jobs, primarily in the Asia-Pacific region.

Investment and Long-Term Outlook

Confidence in the travel and tourism sector remains strong, with global investment expected to surpass $1 trillion in 2024, representing a 9.9% increase from the previous year. The U.S., China, Saudi Arabia, and France accounted for more than half a trillion dollars of this investment. Italy attracted €11.4 billion, reinforcing its position as a leading destination for sustainable tourism development.

Travel & Tourism’s Total Contribution to GDP, $ Billions, League Table: