
Global Travel & Tourism Catapults into 2023 Says WTTC
GDP contribution 5% off 2019 peak by the end of 2023 Almost 22 million more Travel & Tourism jobs last year International visitor spend up more than 80% Source: WTTC The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today shows the Travel & Tourism sector is closing in on its 2019 peak, recovering by more than 95%. In 2023, the sector is forecast to reach $9.5TN, just 5% below 2019 pre-pandemic levels when travel was at its highest. 34 countries have already exceeded 2019 levels. According to the research conducted by WTTC in collaboration with Oxford Economics, the global tourism body also forecasts that the sector will recover to 95% of the 2019 job level. A look back on last year Last year, despite the economic and geopolitical difficulties, the Travel & Tourism sector’s recovery continued at pace, growing 22% year-on-year to reach $7.7TN. This recovery represented 7.6% of the global economy in 2022, the highest sector contribution since 2019, although its global GDP is still 22.9% behind its 2019 peak. In 2021 the global sector grew 24.7% year-on-year, and last year it grew a further 22% to reach a GDP contribution of
























