WTTC paper shows travel and tourism’s value to ‘everyone’

BTN News
Thursday, 11 February 2021

Undertaken in collaboration with the Social Progress Imperative (SPI), the paper shows significant correlations between WTTC’s Economic Impact Report data and Social Progress Index scores over the last decade. 

Specifically, it says the contribution of travel and tourism to gross domestic product and employment positively and significantly affects social progress index scores, with China, Cambodia, Rwanda and Sri Lanka highlighted as particularly strong performers. 

According to the research, in many parts of the world, travel and tourism has enriched people at a faster rate than the overall economy. 

Between 2011 and 2019, South East Asia recorded the fastest annual growth rate in travel and tourism GDP per capita at 6.7 per cent compared to the region’s 3.7 per cent overall economy growth; while the Middle East achieved a three per cent travel and tourism GDP per capita growth compared to just 0.3per cent for the overall region’s economy. 

At the global level, the research shows for every 34 international visitors to a destination, one new job is created. This figure is more important in Africa, Asia-Pacific and the Middle East, where it respectively takes 11, 13 and 24 international visitors for the creation of one new job. 

The paper also shows that for every US$1 generated in direct travel and tourism GDP globally, more than US$2 is generated indirectly. This means that more than twice as much value is generated across the entire supply chain due to travel and tourism.

For every direct job globally, nearly two new jobs are created on an indirect or induced basis, with one direct job in travel and tourism effectively creating a total of three jobs.

WTTC paper shows travel and tourism’s value to ‘everyone’

BTN News
Thursday, 11 February 2021

Undertaken in collaboration with the Social Progress Imperative (SPI), the paper shows significant correlations between WTTC’s Economic Impact Report data and Social Progress Index scores over the last decade. 

Specifically, it says the contribution of travel and tourism to gross domestic product and employment positively and significantly affects social progress index scores, with China, Cambodia, Rwanda and Sri Lanka highlighted as particularly strong performers. 

According to the research, in many parts of the world, travel and tourism has enriched people at a faster rate than the overall economy. 

Between 2011 and 2019, South East Asia recorded the fastest annual growth rate in travel and tourism GDP per capita at 6.7 per cent compared to the region’s 3.7 per cent overall economy growth; while the Middle East achieved a three per cent travel and tourism GDP per capita growth compared to just 0.3per cent for the overall region’s economy. 

At the global level, the research shows for every 34 international visitors to a destination, one new job is created. This figure is more important in Africa, Asia-Pacific and the Middle East, where it respectively takes 11, 13 and 24 international visitors for the creation of one new job. 

The paper also shows that for every US$1 generated in direct travel and tourism GDP globally, more than US$2 is generated indirectly. This means that more than twice as much value is generated across the entire supply chain due to travel and tourism.

For every direct job globally, nearly two new jobs are created on an indirect or induced basis, with one direct job in travel and tourism effectively creating a total of three jobs.