The World Travel and Tourism Council (WTTC), a London-based nonprofit that studies the global economic impact of tourism, published a report last month detailing the industry’s contribution to the world economy.
The report found that travel and tourism supported millions of jobs and made a substantial contribution to global gross domestic product.
“Despite uncertainty in the global economy and specific challenges to travel and tourism last year, the sector grew by 3.1%, contributing a total of 9.8% to the global GDP,” said David Scowsill, president and CEO of the WTTC. That growth occurred even as concerns over terrorism, airline safety and disease outbreaks such as Zika and Ebola affected public perception and travel patterns in some regions.
Scowsill noted that while terror attacks, disease outbreaks, currency volatility and geopolitical tensions have hurt travel and tourism in particular countries or regions, the global sector has continued to perform strongly.
Looking ahead, the report forecasts continued expansion of the industry, estimating roughly 4% annual growth in global travel and tourism over the next decade.