Travel & Tourism is set to experience historic growth, with the World Travel & Tourism Council (WTTC) forecasting a staggering $16.5 trillion contribution to the global economy by 2035. This decade-long surge will account for 11.5% of global GDP and reflects the industry’s resilience and increasing demand across continents.
According to WTTC’s 2025 Economic Impact Research, international visitor spending is projected to reach an all-time high of $2.1 trillion this year, surpassing the pre-pandemic record set in 2019. Total sector contribution in 2025 is expected to hit $11.7 trillion, marking 10.3% of global GDP. In real terms, that’s a $164 billion increase from the previous high in 2019.
While economic turbulence continues to affect industries worldwide, Travel & Tourism remains a vital pillar of the global economy. The sector is also expected to support 371 million jobs in 2025, an increase of 14 million over the previous year—more than the population of the United States.
A Mixed Global Recovery
The WTTC report highlights how recovery is playing out unevenly across different regions. Some of the world’s largest travel economies, including the U.S., China, and Germany, are experiencing a slowdown. In the U.S., international visitor spending remained below 2019 levels in 2024 and is not expected to fully recover this year. China, which had surpassed pre-pandemic international spending levels in 2024, is now anticipating a sharp deceleration in growth for 2025.
However, other nations are charging ahead. Saudi Arabia, for example, is investing $800 billion into the sector as part of its broader economic diversification strategy. Meanwhile, traditional tourism powerhouses like France and Spain continue to see strong numbers, fueled by a combination of global appeal and strategic investments in tourism infrastructure.
Julia Simpson, WTTC President & CEO, said, “People are continuing to prioritise travel. That’s a powerful vote of confidence in our sector and a sign of its enduring strength.” She added that while the overall picture is positive, the sector’s growth patterns vary significantly by region.
2024: A Year of Gains
Looking back at 2024, WTTC data shows Travel & Tourism contributed $10.9 trillion to the global economy, which was 10% of global GDP. That figure marked an 8.5% increase over 2023 and a 6% rise from 2019. Job growth also surged, with the sector supporting 357 million positions globally—accounting for one in every ten jobs.
International visitor spending rose by nearly 12% to reach $1.87 trillion, while domestic travel spending increased by 5.4% to hit $5.3 trillion. These figures point to a strong rebound in consumer confidence and a renewed global appetite for both local and international travel experiences.
Looking Ahead: The 2035 Horizon
WTTC forecasts show an annual growth rate of 3.5% for the Travel & Tourism sector, outpacing the global economy’s projected 2.5% growth. By 2035, one in every eight jobs around the world is expected to be supported by travel, amounting to more than 460 million roles.
International visitor spending is projected to reach $2.9 trillion by then, with domestic spending growing in parallel to hit $7.7 trillion. These figures underscore the sector’s long-term potential not just as a source of leisure and cultural exchange, but as a major engine of employment and economic development.
The WTTC’s annual collaboration with Oxford Economics ensures detailed analysis of the industry’s impact across 185 economies. In addition to economic forecasts, the Council also tracks environmental indicators. Its recent Environmental Social Research revealed that the Travel & Tourism sector was responsible for 6.5% of global emissions in 2023, highlighting the urgent need for sustainable innovation as growth accelerates.
As the world looks toward 2035, Travel & Tourism appears set not just to rebound, but to lead. For travelers, investors, and governments alike, the coming years promise new opportunities and challenges—marking a pivotal era in global tourism history.
