WTTC Reports Record-Breaking Growth in Global Travel and Tourism Despite Economic Challenges

WTTC’s 2025 Economic Impact Research (EIR) projects that global travel and tourism will strengthen this year despite the prevailing economic uncertainties, reinforcing its significance as a cornerstone of major global economies. International visitor spending is predicted to reach a historic high of $2.1 trillion in 2025, surpassing the previous record of $1.9 trillion in 2019 by an impressive $164 billion.

Travel & Tourism is expected to contribute an all-time high of $11.7 trillion to the global economy in 2025, accounting for 10.3% of global GDP. Moreover, employment opportunities in this sector are anticipated to increase by 14 million, bringing the total to 371 million globally—more than the entire population of the United States.

However, the recovery in the travel and tourism sector remains uneven worldwide. While some countries and regions are generating record-breaking numbers, other large economies are experiencing a plateau. For instance, growth in this sector has slowed in major markets such as the United States, China, and Germany. The U.S., the world’s most influential travel and tourism market, had its international visitor spending significantly below the 2019 levels in 2024 and is not expected to recover fully this year.

Contrastingly, the sector has seen a resurgence in emerging markets like Saudi Arabia, which plans to invest $800 billion in the sector by 2030, and European countries like France and Spain. These nations, recognized as the world’s top two destinations in terms of visitor numbers, are leading the region’s resurgence, powered by strategic investments and global appeal.

Looking back at 2024, the travel and tourism sector contributed 10% of the world’s economy, reaching $10.9 trillion—an 8.5% increase from 2023 and 6% above the 2019 peak. Jobs in this sector also grew by 6.2%, resulting in 357 million jobs worldwide.

Over the next decade, the WTTC anticipates that travel and tourism will inject $16.5 trillion into the global economy, accounting for 11.5% of global GDP. This projection signifies a decade-long annual growth rate of 3.5%, outpacing the wider economy’s 2.5% growth rate. Jobs in this sector are expected to account for one in eight globally, with more than 460 million jobs. International spending is also expected to reach $2.9 trillion.

These projections underscore the critical need for sustainable innovation as the travel and tourism sector expands, especially considering the sector’s emissions stood at 6.5% of the global total in 2023.

World Travel & Tourism Economic Impact Research Factsheet