The World Economic Forum (WEF) has identified the top 10 countries for travel and tourism in 2024, with the United States, Spain, and Japan taking the lead. This ranking is based on the WEF’s Travel & Tourism Development Index (TTDI), which measures the competitiveness and attractiveness of a country’s tourism industry.
Despite the challenges posed by the COVID-19 pandemic, the WEF predicts that global international tourist arrivals will return to pre-pandemic levels in 2024, fueled by pent-up demand. However, the recovery has been uneven across the globe, with some countries better equipped to handle future challenges and opportunities.
According to the TTDI, Europe dominates the top 10 economies for travel and tourism, with the US claiming the top spot. Other European countries in the top 10 include Spain (2), Germany (4), the United Kingdom (5), France (6), Italy (7), and Austria (8).
The top-ranked countries benefit from favorable business environments, open travel policies, advanced technology adoption, excellent transport and tourism infrastructure, and rich natural and cultural attractions. As a result, these countries accounted for over three-quarters of the travel and tourism industry GDP in 2022.
While the high-income countries lead the TTDI, significant improvements have been seen in low- to upper-middle-income countries, including those in sub-Saharan Africa, North Africa, Eurasia, South America, South Asia, and the Balkans and Eastern Europe. However, these countries still have room for growth and need to invest in improving their market share and readiness for future risks and opportunities.
The travel and tourism sector faces several challenges, including tight labor markets, fiscal constraints, and health and security concerns. The industry also needs to strike a balance between growth and sustainability, ensuring that its environmental impact is minimized. Despite these challenges, the WEF remains optimistic about the future of the travel and tourism industry, highlighting the adaptability and resilience of the sector.
