Home
FacebookTwitterSearchMenu
  • Subscribe (free)
  • Subscribe (free)
  • News
  • Features
  • TravelInfo
  • Columns
  • Community
  • Sponsored
  • Contact Us
    • Contact Us
    • About Us
    • Advertise
    • Send Us News

Share

  • Facebook
  • Twitter
  • LinkedIn
  • E-mail
  • Print

Travel – the global GDP powerhouse

09 Sep 2024
Comments | 0

An annual report from the World Travel and Tourism Council (WTTC) reveals that travel will contribute a record amount to global GDP in 2024.

The organisation predicts that the travel and tourism industry’s contribution to global GDP will reach a new record, contributing 10% of total GDP for the first time.

The sector will also account for 348 million jobs, creating 13,6 million more jobs than in 2019. “Despite some concerns last year about us going into a global recession and high inflation, this year we are looking at travel and tourism being a real economic powerhouse globally,” said Julia Simpson, CEO of the WTTC, as reported by Reuters.

However, regional reports from the WTTC show that Africa is recovering more slowly than the average rate, with travel and tourism accounting for 6,8% of the GDP on the continent.

South Africa’s travel and tourism contribution to national GDP remained 13,1% behind 2019 levels. “A lacklustre recovery that became a drag on the whole region,” was how the report described it.

However, the WTTC expects the employment created by the sector to fully recover in Africa by the end of this year, with the addition of nearly 2,4 million jobs. It forecasts that the industry will contribute US$321,6 billion (R5,7 trillion).

Sign up to our mailing list and get daily news headlines and weekly features directly to your inbox free.

TMCs must drive NDC education efforts

Yesterday
Comments | 0

Feature: Seabourn: Your clients’ next epic adventure!

29 Jun 2025
Comments | 0

TAAG welcomes another Airbus

29 Jun 2025
Comments | 0

Abu Dhabi’s Yas Waterworld expands

29 Jun 2025
Comments | 0

Baby elephant takes a tumble

29 Jun 2025
Comments | 0

Latest Changes on Travelinfo (27 June'25)

29 Jun 2025
Comments | 0

Pilgrims keep booking despite conflict

26 Jun 2025
Comments | 0

QR responds to airspace chaos

26 Jun 2025
Comments | 0

Turkish returns to Sabre

26 Jun 2025
Comments | 0

China launches online visa processing

26 Jun 2025
Comments | 0

Luxury travel – the value is in personal enrichment

26 Jun 2025
Comments | 0

Hilton plans Nile cruise

26 Jun 2025
Comments | 0

Turkey to open ruins for tourism

26 Jun 2025
Comments | 0
  • Load more

FeatureClick to view

Snow holidays June 2025

Poll

Are clients shying away from Middle Eastern travel hubs?
  • © Now Media
  • Privacy Policy
  • Travel News on Facebook
  • eTNW Twitter
  • Travel News RSS
  • Contact Us
  • About Us
  • Advertise
  • Send Us News