A new study by the World Travel & Tourism Council (WTTC) and VFS Global predicts that Latin America’s travel and tourism sector could add US$260 billion to the regional economy and generate 8 million new jobs within the next decade. The report outlines key policy recommendations to achieve this growth, including infrastructure development, streamlined visa processes, and enhanced marketing campaigns.
Vietnam’s Travel & Tourism sector is on track for a record-breaking year, with its contribution to the national economy set to reach a staggering đ770.8TN. This surge, fueled by strong domestic travel and a recovering international market, marks a significant step towards achieving the government’s 2030 Tourism Development Strategy.
Tanzania’s tourism sector experienced a remarkable surge in 2023, contributing a record TZS 18.6 trillion to the national GDP, marking a 4% increase from the 2019 peak. The sector’s contribution to the economy is expected to continue its upward trajectory, reaching TZS 20.3 trillion in 2024 and TZS 30.9 trillion by 2034, further solidifying its role as a key driver of economic growth and job creation in Tanzania.
Kenya’s tourism sector experienced a remarkable resurgence in 2023, achieving record-breaking growth in economic contribution, employment, and domestic visitor spending. The World Travel & Tourism Council (WTTC) predicts continued growth in the coming years, highlighting the sector’s vital role in the country’s economic development.
Australia’s tourism sector is set to achieve record-breaking economic contribution in 2024, exceeding pre-pandemic levels and contributing 10% of the country’s GDP. The upcoming WTTC Global Summit in Perth is expected to further drive growth, leading to a projected $345 billion contribution by 2034. The sector is also experiencing a significant employment surge, with over 2 million jobs anticipated by 2034, making it a key driver of Australia’s economic recovery.
The World Travel & Tourism Council (WTTC) forecasts a substantial economic boost for China’s Travel & Tourism industry in 2024. The sector is expected to contribute ¥12.62 trillion to the national economy, fueled by a surge in domestic travel expenditure of ¥6.79 trillion. However, international tourist spending is still lagging behind pre-pandemic levels due to delayed travel restrictions in China. Despite the positive outlook, the sector is still slightly behind 2019 employment figures, with a projected 10.6% of total employment in China this year.
The World Travel & Tourism Council (WTTC) forecasts a record-breaking year for Canada’s Travel & Tourism sector, with an economic contribution expected to reach an all-time high of $182 billion in 2024. This represents an 8.1 billion dollar increase from the previous peak in 2019, showcasing the sector’s significant role as an economic force, generating one in every 15 dollars of economic activity.
The World Travel & Tourism Council (WTTC) released its 2024 Economic Impact Research (EIR), highlighting a bright future for Oman’s Travel & Tourism sector. Bolstered by government backing and initiatives, the industry is set to not only recover but reach new heights this year. Key indicators for 2023 include a 35% increase in the sector’s GDP contribution, reaching OMR 2.8 billion, and a 15% growth in employment, supporting 191,500 jobs. International tourists contributed OMR 1.1 billion to the economy, a 69% rise from 2022, while domestic tourism spending bounced back to OMR 1.4 billion. Strategic government investments and support are revitalizing the economy and paving the way for further increases in international tourist spending and the overall economic impact of the sector.
The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) has revealed a remarkable upsurge in Qatar’s Travel & Tourism sector. Last year witnessed unprecedented highs in GDP contribution, job creation, and domestic traveler expenditure, surpassing previous records. In 2023, the sector’s GDP contribution soared by 31%, reaching a historic QAR 81.2BN, constituting 10.3% of Qatar’s total economic output. Employment in the sector burgeoned with over 20,300 new positions, totaling nearly 286,000 jobs nationwide, accounting for one in every eight jobs across the country. Domestic visitor spending surged to QAR 1.4BN. Despite hosting the FIFA World Cup the preceding year and experiencing a 40% surge in spending by foreign visitors to QAR 60.4BN, it still trailed the previous peak by QAR 1.2BN.
Research from the World Travel & Tourism Council (WTTC) in 2024 reveals that Qatar’s Travel & Tourism sector achieved record-breaking success last year. The sector’s contribution to GDP, employment, and domestic spending surged significantly. The GDP contribution reached QAR 81.2BN, accounting for 10.3% of Qatar’s total economic output. Over 20,300 new jobs were created in the sector, bringing the total to nearly 286,000 jobs nationwide. Despite a decline in international visitor spending, the sector is projected to make a record contribution to Qatar’s economy in 2024, with an expected GDP contribution of QAR 90.8BN and over 334,500 jobs supported.
