ACCORDING to the annual Economic Impact Report 2016 by the World Travel & Tourism Council (WTTC), the tourism sector added 7.2 million jobs to the global economy and contributed over US$ 7.2 trillion to worldwide GDP last year, or 9.8 per cent of global GDP.
David Scowsill, president and CEO, WTTC, noted the sector’s significant 3.7 per cent growth and resilience despite uncertainty in the global economy and challenges to the sector last year, including “terror attacks, disease outbreaks, currency fluctuations and geopolitical challenges”.
He added: “Travel and tourism also supported a total of 284 million jobs in 2015, an increase of 7.2 million, which means it now supports, directly and indirectly, one in 11 jobs on the planet.”
The sector’s direct contribution to GDP growth outpaced overall GDP country growth in 127 of the 184 countries covered by the research. This trend was most marked in countries including Iceland, Japan, Mexico, New Zealand, Qatar, Saudi Arabia, Thailand, and Uganda.
The growth of the sector has been attributed to a worldwide increase in middle-class households, an ageing population, which tends to travel more, and growing connectivity between destinations, making travel more accessible and affordable.
While all regions of the world showed growth in GDP contribution, South-east Asia was the fastest growing with a 7.9 per cent increase followed by South Asia, which grew 7.4 per cent.
Meanwhile, the Middle East grew 5.9 per cent, the Caribbean 5.1 per cent, Sub-Saharan Africa 3.3 per cent, North America 3.1 per cent, Europe 2.5 per cent, North-east Asia 2.1 per cent, Latin America 1.5 per cent and North Africa 1.4 per cent.
In 2016, the sector is forecasted to grow by 3.5 per cent in total contribution to GDP, and is again expected to outpace global economic growth for the sixth consecutive year.
