In Brief: Over the next ten years, the global travel and tourism sector is projected to grow at a rate 1.5 times faster than the overall economy, indicating a robust future for the hospitality industry.
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Global Travel & Tourism Growth to Outpace Wider Economy By 1.5 Times Over the Next Decade – Image Credit Unsplash+
Global Travel & Tourism is forecast to continue outpacing wider economic growth in 2026, with the sector expected to contribute $12TN to the world economy, accounting for 9.9% of global GDP, according to new data from the World Travel & Tourism Council, sponsored by Chase Travel, Lead Research Partner.
WTTC’s latest Economic Impact Research (EIR) forecasts the sector will grow 3.2% globally in 2026, ahead of wider global economic growth, forecast at 2.4%. Travel & Tourism is also expected to support 376 million jobs worldwide in 2026, representing one in nine jobs globally.
Over the next decade, the sector is forecast to support almost 89 million new jobs globally, accounting for approximately one-third of all new jobs expected across the wider economy. During this same period, global Travel & Tourism GDP is forecast to grow at an annual rate of 3.6%, 1.5 times faster than the wider global economy at 2.4%.
Against this global backdrop, WTTC highlighted the importance of continued investment in smart infrastructure, digital innovation, sustainable destination management, skills development, and cross-border connectivity to maintain the sector’s strong long-term growth trajectory. The organisation also pointed to the growing role of AI and new technologies in improving traveller experience, operational efficiency, and workforce development across the sector.
In Europe, Travel & Tourism is forecast to outperform the wider regional economy in 2026, reinforcing its role as one of the continent’s strongest drivers of growth, jobs, and investment.
While wider European GDP growth is forecast to reach just 1% in 2026 amid continued inflationary pressures and economic uncertainty, Travel & Tourism GDP across Europe is expected to grow by 3.6%, nearly four times faster.
WTTC’s latest Economic Impact Research shows the sector continues to exhibit remarkable resilience, even as households face rising costs and persistent value-seeking behaviour.
International visitor spending across Europe is projected to grow 7.1% in 2026, significantly ahead of the global average of 3.7%, as travellers increasingly choose destinations closer to home amid geopolitical uncertainty and disruption in other regions.
Southern European destinations continue to lead the region’s momentum, with Spain standing out as one of Europe’s strongest performing major tourism economies. WTTC forecasts Spain’s Travel & Tourism sector will grow 3.7% in 2026, matching Türkiye and outperforming the wider European economy, while Italy is expected to lead the region’s major markets with growth of 3.8%. International visitor spending in Spain is also forecast to increase by 5.3% this year, underlining the continued strength and competitiveness of Mediterranean destinations. In 2025, Spain recorded 96.8 million international visitor arrivals, the second highest international visitor arrivals in Europe after France, yet the country recorded €115.1BN (US$130.1BN) in international visitor spending in the same year, making it the leading destination in Europe and third globally.
Gloria Guevara, President & CEO of WTTC, said: “Travel & Tourism continues to prove its resilience across Europe and remains one of the region’s most important economic growth engines at a time when wider economic expansion is slowing. The sector is creating jobs, driving investment, and supporting communities across the continent.
“Countries such as Spain, Italy, France and Türkiye are showing what is possible when governments recognise the strategic value of Travel & Tourism and support the sector through smart investment, strong connectivity, and forward-looking policies. Europe has a real opportunity to build on this momentum, but maintaining competitiveness, affordability, and seamless travel will be critical.”
WTTC’s Economic Impact Research is produced in partnership with Oxford Economics and is among the world’s most authoritative datasets on the economic contribution of Travel & Tourism.
Forecasts for 2026 are based on current economic and geopolitical conditions at the time of publication and include assumptions related to inflation, energy prices, consumer demand, and regional geopolitical developments. As the global situation evolves, projections may be subject to change.
