This year, the travel and tourism industry could contribute a combined $ 8.6 trillion to the global economy, just 6.4% less than pre-pandemic levels. This was reported in a new and important research by the World Travel & Tourism Council (WTTC), according to which in 2019, before the pandemic interrupted travel, said that this sector generated almost 9.2 trillion dollars. In 2020, the arrival of Covid-19 brought a setback, causing a massive decline of 49.1%, which represents a serious loss: almost 4.5 trillion dollars.
Latest research from WTTC shows that as the world finally begins to recover from pandemic, the sector’s contribution to both the global economy and employment could reach almost pre-pandemic levels this year. According to the latest research, if the vaccine and booster rollout continue apace in 2022, and restrictions to international travel are eased around the world throughout the year, the sector could create 58 million jobs, to reach more than 330 million, just 1% below pre-pandemic levels and up 21.5% up on 2020.
“Over the past two years, the global Travel & Tourism sector has suffered tremendous losses. 2022 is poised for a strong recovery if governments continue to open up and remove restrictions to travel. Our sector could recover more than 58 million jobs and generate $8.6 trillion which would boost economic recovery around the world”, said Julia Simpson, WTTC President & CEO. “As people start travelling again, governments must implement simplified rules, including the use of digital solutions. Travel of the future should be contactless while guaranteeing safety”.
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