TRAVEL&TOURISMGLOBALECONOMICIMPACT&TRENDS2019“Assomenationslookincreasinglyinward,Travel&Tourismbecomesevenmorecriticalasanengineofeconomicdevelopmentandasavehicleforsharingculturesandbuildingmutualunderstanding.”GloriaGuevaraManzo,President&CEOWorldTravel&TourismCouncilFormoreinformation,pleasecontact:ROCHELLETURNER|ResearchDirectorrochelle.turner@wttc.orgNEJCJUS|EconomicResearchManagernejc.jus@wttc.orgGLOBALECONOMICIMPACT&TRENDS2019FOREWORDAsoneoftheworld’slargesteconomicsectors,Travel&Tourismcreatesjobs,drivesexports,andgeneratesprosperityacrosstheworld.Thesector,comprisedofawiderangeofindustries,aimstoserveandsupportdomestic,international,businessandleisurevisitors.Companies,largeandsmall,inindustriesrangingfromaccommodationandtransportationtofood&beverage,retailandcultureandsports&recreation,allstrivetocreateproductsandservicesthatbringpeopletogether,supportcommunitiesandcelebratethewondersthatourworldcanoffer.InitsannualanalysisquantifyingtheglobaleconomicandemploymentimpactofTravel&Tourismin185countriesand25regions,theWorldTravel&TourismCouncil’s(WTTC)researchrevealsthatthesectoraccountedfor10.4%ofglobalGDPand319millionjobs,or10%oftotalemploymentin2018.Thedivisionofoverallspendisfirmlyweightedtowardstheleisuremarket,whichrepresented78.5%ofthetotalcomparedwith21.5%forbusinessspend,andthesectoraccountedfor6.5%oftotalglobalexportsand27.2%oftotalglobalserviceexports.Domestictourism,whichrepresented71.2%ofalltourismspendingin2018andhadthestrongestgrowthindevelopingnations,continuestosupportopportunitiesbyspreadingdevelopmentandregionaleconomicbenefitsandbuildingnationalpride.ThecontinuedriseinthenumberofmiddleclasshouseholdsandthesolidgrowthinglobalconsumerspendingonceagainenabledtheTravel&Tourismsector’sgrowthtoreach3.9%,outpacingtheglobaleconomyfortheeighthconsecutiveyear.TheUSA,China,Japan,GermanyandtheUKwerethetopfivemarketsin2018,collectivelyrepresenting47%oftheglobalTravel&TourismGDP.Acrosstheregionsin2018,Asia-Pacificremainedastrongperformer,growing...
