The Economic Impact of Travel & Tourism 2013

stock. Xchng This report by The World Travel & Tourism Council shows that growth in world travel & tourism was robust in 2012 despite the challenging economic landscape.

The main findings of the report are:

• The total contribution from travel & tourism to world GDP grew by 3 percent in 2012, thus outpacing the growth of the world economy as a whole (2.3 percent). It was also faster than the growth of a number of broad industries including manufacturing, financial & business services and retail.

• Tourism’s direct contribution to GDP in 2012 was US$2.1 trillion and the industry directly supported 101 million jobs.

• Taking into account its direct, indirect and induced impacts, travel & tourism’s total contribution was US$6.6 trillion to GDP, 260 million jobs, US$760 billion in investment and US$1.2 trillion in exports. Put another way, the sector accounted for 9.3 percent of global GDP, 1 in 11 jobs, 5 percent of investment and 5 percent of exports.

• Global travel & tourism’s contribution to direct GDP in 2013 is forecast to grow by 3.1 percent and is again forecast to outpace growth of the total global economy (2.4 percent) in 2013. Longer-term prospects are even more positive with annual growth forecast to be 4.4 percent per year over the ten years to 2022.

The report is available to download from the The World Travel & Tourism Council’s website.