New research from the World Travel & Tourism Council (WTTC) has revealed that the global travel and tourism sector’s contribution to the global economy could reach US$8,6 trillion (R132 trillion) this year, just 6,4% behind pre-pandemic levels.
In 2019, the same sector generated nearly US$9,2 trillion (R141 trillion) to the global economy.
However, in 2020, the pandemic brought the sector to an almost complete standstill, causing a massive 49,1% drop, representing a loss of nearly US$4,5 trillion (R69 trillion).
Research by the global tourism body shows that if the vaccine and booster roll-out continue this year, and restrictions to international travel are eased around the world throughout the year, the sector could create 58 million jobs in 2022, ultimately reaching more than 330 million.
This is just 1% below pre-pandemic levels (2019) and 21,5% up from 2020.
In 2019, travel and tourism generated 10,4% of global GDP. To close the gap on pre-pandemic levels this year, WTTC says governments around the world must continue focusing on the vaccine and booster roll-out, allowing fully vaccinated travellers to move freely without the need for testing.