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The United States reaffirms as the biggest travel and tourism market globally

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https://en.travel2latam.com/nota/76369-the-united-states-reaffirms-as-the-biggest-travel-and-tourism-market-globally
The United States reaffirms as the biggest travel and tourism market globally
Source: Miami International Airport
September 06, 2022

The World Travel and Tourism Council revealed that the country maintains its position despite the economic consequences of the pandemic


It should be noted that although the country remained in a high position, the contribution to the travel and tourism sector fell drastically, resulting in serious economic losses. However, the new report from the world tourism shows that travel is on the way to recovery.

Julia Simpson, President and CEO of the Council, said: "Despite a challenging macro environment, Travel & Tourism has bounced back. The world, with some exceptions, is travelling again. And we are seeing a resurgence in business travel. Over the next 10 years, Travel & Tourism growth will outstrip the global economy." This is good news for North America, which is looking forward to the numbers in the report.

The data reveals that in terms of the contribution of the travel and tourism sector to GDP, China maintained its second position, with more than US$814 billion, while Germany remained the third largest travel and tourism sector in the world. , contributing US$251 billion to the German economy. However, this classification considers internal trips that reinforced their numbers, while international ones plummeted drastically.

The UK fell dramatically from fifth place in 2019 to ninth in 2021, with a contribution of just over US$157 billion, the biggest drop of the top 10 countries.

In terms of international traveler spending, France, which was in fourth place before the pandemic hit, overtook Spain, China and the United States for first place.

In Asia and the Pacific, major travel and tourism markets such as Thailand and Japan saw huge losses in international spending, causing both markets, in fifth and eighth place respectively before the pandemic, to fall out of the top 20 in 2021.

According to predictions, business travel worldwide is expected to grow by more than 41% this year. For the next 10 years, it predicts that business travel could grow an average of 5.5% per year and could return faster in the Asia-Pacific region.

The World Council predicts that by 2032, China could overtake the United States to become the world's largest travel and tourism market.

Research shows that China's travel and tourism sector's contribution to GDP could reach $3.9 trillion by 2032, making it the world's most powerful travel and tourism market, with India potentially overtaking Germany. to reach third place with a projected value of 457,000 million dollars.

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