Tourism is world’s second fastest growing sector
The global travel and tourism sector grew by 3.9% last year to generate a record $8.8 trillion and 319 million jobs to the world economy.
This growth was above the growth rate of world GDP for the eighth consecutive year, according to the latest figures from the World Travel & Tourism Council.
It makes travel and tourism the second fastest growing sector in the world, behind only manufacturing, which grew by 4%.
It is growing faster than healthcare (3.1%), information technology (1.7%) and financial services (1.7%)
The WTTC research showed that in 2018 travel and tourism is now responsible for one in five of all new jobs created in the world over the last five years.
Gloria Guevara, WTTC president and CEO, said the sector is forecast to contribute 100 million new jobs globally over the next 10 years, accounting for 421 million jobs by 2029.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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