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Image credit – iStock-525232662 The World Travel and Tourism Council (WTTC) opened its 25th global summit in Rome with the release of its latest research highlighting the sector’s strong global performance and long-term growth potential.
The report shows that Europe is in international travel with five of the world’s top 10 tourism and tourism markets in terms of GDP. Italy’s hosting of the summit, along with its G7 status, reflects the country’s rising influence. Italy’s sector, worth US$248.3 billion in 2024, is supported by international visitors and a strong meetings and events industry.
Germany, the world’s third largest market, contributed US$525 billion in 2024. The UK earned US$367 billion despite international visitor spending, while France and Spain added US$289 billion and US$270 billion respectively. This broad-based growth reflects Europe’s ability to combine its cultural heritage with innovation and sustainability.
“These results” These results A Story of Power and Opportunity, says China’s largest travel and tourism market. 164 billion US dollars in 2019 with 1.9 trillion US dollars.
The US mainly maintained its top position, contributing US$2.6 trillion to GDP in 2024. In addition, international hospitality spending is expected to decrease by 12.5 billion US dollars in 2025. The world’s second largest market, it contributed 1.64 trillion US dollars in 2024 and is projected to grow by 22.7 percent this year. Japan’s fifth largest market is expected to grow from US$310.5 billion to US$325 billion.
In the Middle East, Saudi Arabia continues to attract attention as a growing global hub with profitable and large-scale investment in infrastructure, such as airports and cruise terminals.
Globally, travel and tourism supported 357 million jobs worldwide in 2024 and is projected to rise to 371 million in 2025. By 2035, eight jobs worldwide are expected to be associated with the sector. Investment confidence remains high, with US$1 trillion in 2024 led by the US, China, Saudi Arabia and France. Italy, 11.4 billion euros, strengthened its appeal as a European Tourism Center.
Uncertainties around trade tariffs and rising geopolitical tensions could constrain the sector in 2025 and beyond
expansion.
Growth in Travel and Tourism’s overall contribution to GDP is projected to slow to 6.7 percent in 2025, gradually increasing to the average growth rate experienced in the pre-pandemic years. But that would still be a stronger growth rate than the 2.5 percent annual growth rate projected for the overall economy.
As a result, the sector is worth 11.7 trillion US dollars globally, equivalent to 10.3 percent
Share of the world economy. The number of jobs supported by the sector is expected to increase by 14.4 million
Total employment contribution 371 million jobs.
This would represent 10.9 percent of all jobs in the entire global economy.
A projected milestone for 2025 is the full recovery of spending by international visitors. In fact, it is projected to rise 8.6 percent from 2019 levels, an increase of about 2.1 trillion.
At the same time, the spending of domestic visitors is predicted to increase by 13.6 percent
2019 level, with projected spending at $5.6 trillion. In terms of annual growth, international and domestic visitor spending is predicted to grow by 10 percent and 5.1 percent, respectively.
According to the report, travel and tourism supported 357 million jobs in 2024 and 371 million in 2025, with an increase in global employment share.
By 2035, one in eight of the world’s jobs will be travel and tourism, with an additional 91mn new jobs, the majority in the Asia-Pacific region, supporting the top four jobs in the world, ultimately supported by the sector.
In partnership with the Italian Ministry of Tourism, (Italian tourist board), the Municipality of Rome and the Lazio region, the Trip.com Group, the Trip.com Group and others, together with the Lazio region, together with Rome and the Lazio region participate in the summit.
