Travel industry to contribute record $11 trillion to global GDP in 2024
A record $1 out of every $10 spent globally in 2024 will be on travel as people briskly book hotels, cruises and flights, according to WTTC
The travel and tourism industry's contribution to global gross domestic product is expected to reach new heights as consumers increasingly see travel as an essential part of their budgets.
Key takeaways
- The WTTC estimates the industry's contribution to global GDP in 2024 will increase 12.1% year-over-year to $11.1 trillion, making up 10% of global GDP;
- Travel spending in the U.S., Chinese and German economies is expected to contribute the most to GDP;
- In the United States, there are currently 1 million job openings across the leisure and hospitality industry, according to the U.S. Travel Association.
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