International travel spending will reach a record $2.1 trillion by 2025

The World Travel & Tourism Council (WTTC) projects significant growth in the sector worldwide this year, driven by increased travel spending. 

According to its Economic Impact Research (EIR) 2025, international visitor spending is projected to reach a record $2.1 trillion, an increase of $164 billion from the previous peak of $1.9 trillion in 2019. 

According to this study, this year, the travel and tourism sector is expected to contribute an all-time high of $11.7 trillion to the global economy, representing 10.3% of global GDP.

Furthermore, global travel and tourism jobs are projected to grow by 14 million by 2025, reaching 371 million – more than the entire US population.

WTTC President and CEO Julia Simpson said: “People continue to prioritize travel. This is a vote of confidence in our industry and an indicator of its strength.”

“But while the global travel and tourism outlook is strong, the recovery is uneven. While some countries and regions are achieving record numbers, other major economies are stagnating.”

While the backdrop is positive for many economies around the world, growth has slowed in several major travel and tourism markets, including the US, China, and Germany. 

In the US, the world’s most powerful travel and tourism market, international visitor spending remained significantly below 2019 levels in 2024 and is not expected to fully recover this year. In China, international spending was above pre-pandemic levels last year, however, growth is expected to slow sharply in 2025.

In contrast, other key markets such as Saudi Arabia, which will inject $800 billion into the sector by 2030, are leading the way and setting new benchmarks. European countries such as France and Spain, the world's top two destinations in terms of visitor levels, continue to lead the region, driven by smart investment and global appeal.

A look back to 2024

According to the latest EIR data from the world tourism body, in 2024 the sector contributed 10% of the global economy to reach $10.9 trillion, an increase of 8.5% compared to 2023 and 6% above the previous peak in 2019.

Jobs grew by 6.2% to 357 million, representing one in 10 jobs worldwide. 

International spending also increased by almost 12% to $1.87 trillion, and domestic spending grew by 5.4% to $5.3 trillion.

The next decade: 

The WTTC forecasts that by 2035, travel and tourism will inject $16.5 trillion into the global economy, representing 11.5% of global GDP. This represents a growth rate of 3.5% per year for a decade, above the 2.5% for the overall economy.

Jobs are expected to reach one in eight jobs, at more than 460 million.

International spending is projected to reach $2.9 trillion, with a CAGR of 3.4%, and domestic spending will grow at a similar pace (3.3%), reaching $7.7 trillion.

In partnership with Oxford Economics, the WTTC produces annual reports on the economic and employment impact of travel and tourism for 185 economies.

Each year, WTTC also publishes its groundbreaking Environmental Social Research, which shows that the sector's emissions will reach 6.5% of the global total in 2023, underscoring the critical need for continued sustainable innovation as travel and tourism expands. 

Source: WTTC.