At its 25th Global Summit in Rome, the World Travel and Tourism Council released new data showing the US remains the world's most powerful travel and tourism market. At the same time, Europe dominates with five of the top 10 destinations by GDP. Italy's hosting role highlights its growing influence, with global forecasts predicting record sector contributions in 2025 and sustained job creation worldwide.
The World Travel and Tourism Council opened its 25th Global Summit in Rome with the release of its latest research highlighting the sector's strong global performance and long-term growth potential. The report states that Europe remains a central centre for international travel, with five of the world's top 10 travel and tourism markets. The Italian summit, combined with its G7 membership, reflects the country's growing influence. Italy's sector contributed $28.3 billion in 2024, supported by international visitors and the intensive meetings and events industries.
Germany, the world's third-largest economy, contributed $525 billion in 2024. The UK generated $ 367 billion in WASDS, despite a fall in international visitor expenses, while France and Spain added $289 billion, respectively. This broad-based development reflects Europe's ability to combine cultural heritage with innovation and stability.
Gloria Guevara, WTTC Interim CEO, said: "These results tell a story of strength and opportunity. The US remains the world's most extensive travel and tourism market. China is surging back. Europe is powering ahead, and destinations across the Middle East, Africa, and South Africa are delivering record growth.
This year, we speculate that our sector will contribute a historic $2.1 trillion in 2025, surpassing the previous high level of $1.9 trillion in 2019 to reach $164 billion. When Italy hosts the Global Summit of the Year, its role as a G7 leader highlights the importance of tourism in driving economies, creating jobs, and shaping our shared future.
The United States retained its top position, contributing $2.6 trillion to its GDP in 2024, primarily driven by its domestic market. However, in 2025, international visitors are estimated to fall to $ 12.5 billion. China, the world's second-largest market, contributed $1.64 billion in 2024 and is estimated to increase by 22.7% this year, highlighting its rapid resurgence. Japan, the fifth largest market, is expected to grow from USD 310.5 billion to nearly USD 325 billion.
In the Middle East, Saudi Arabia remains a growing global hub, attracting significant attention, with record inbound arrivals and substantial investment in infrastructure, including airports and cruise terminals. Globally, travel and tourism supported 357 million jobs in 2024 and is projected to rise to 371 million in 2025. By 2035, one in eight jobs worldwide is expected to be linked to the sector. Investment confidence remains high with USD 1 trillion invested in 2024, led by the US, China, Saudi Arabia and France. Italy drew EUR 11.4 billion, reinforcing its appeal as a European tourism hub.
In 2025 and the following years, uncertainties surrounding trade tariffs and rising geopolitical tensions could limit the sector's expansion. The growth of Travel and Tourism's total contribution ot GDP in 2025 is forecast to slow to 6.7 per cent, gradually trending back to the average growth rate experienced in the years before the pandemic. However, this would still be a stronger rate than the 2.5 per cent annual growth rate projected for the total economy.
Consequently, the sector is set to contribute USD 11.7 trillion globally, equal to a 10.3 per cent share of the world economy. The number of jobs supported by the industry is expected to increase by 14.4 million, lifting the sector's total contribution to employment to 371 million jobs. This would represent a 10.9% share of all jobs in the entire global economy. One projected milestone for 2025 is the complete recovery of spending by international visitors. In fact, it is forecast to grow 10 per cent and 5.1 per cent, respectively.
According to the report, Travel and Tourism supported 357 million jobs in 2024 and is set to rise to 371 million in 2025, accompanied by an increase in the sector's share of global employment. By 2035, one in eight jobs worldwide will be supported by the Travel and Tourism sector, with an additional 91 million new jobs, the majority in the Asia-Pacific region, resulting in one in three new jobs globally endorsed by the industry. The summit is being hosted in partnership with the Italian Ministry of Tourism, the Municipality of Rome, and the Lazio Region, alongside WTTC partners including Chase Travel, MSC Group, Trip.com and others.
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