Economic Impact of Travel & Tourism: 2015 Annual Update

Topic Selected: Travel and Tourism

General Article icon Type: General Article

An extract from the report by the World Travel & Tourism Council.

 

Travel and tourism’s direct contribution to world gross domestic product (GDP) and employment in 2014 was US$2.4 trillion (2014 prices) and 105 million jobs, respectively.

Taking its wider impacts into account, travel and tourism’s total contribution to the global economy in 2014 was US$7.6 trillion (2014 prices), which equates to 9.8% of total economy GDP in 2014.

2.1 million new jobs were generated directly in the sector in 2014, and in total 6.1 million new jobs were created as a result of total direct, indirect and induced activity.

The total contribution of travel and tourism to employment grew 2.3% in 2014, while the total GDP contribution grew 3.6%, faster than the wider economy in 2014 and registering positive growth for the 5th successive year. This is again evidence that travel and tourism is a key engine for continued global growth and job creation

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