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,growingby6.4%,butNorthAfrica’sperformance–with8.6%yearonyeargrowth–isparticularlynotable.Thisgrowthnotonlyshowcasesthesector’sresilienceandcapacitytobouncebackfromsecurityshocks,butalsoitsabilitytospreaditsbenefitswidelyacrosstheworld.Ineffect,Ethiopia,Ecuador,StKittsandNevis,EgyptandTurkeyledtheworldforTravel&TourismGDPgrowthin2018.Thisgrowth,inturn,enablesjobcreation.Travel&Tourism,whichalreadysupportsoneineverytenjobsontheplanet,andhasaccountedforoneinfiveofalljobscreatedacrosstheworldoverthepastfiveyears,isadynamicengineofemploymentopportunities.JobsinTravel&Tourismparticularysupportwomen,youthandother,oftenmarginalisedgroupsofsociety.Factorsinfluencingtheflowoftravellersaroundtheworld,suchasadestination’sattractivenessanditscurrencystrength,willcontinuetoaffecttravellerbehaviourinthecomingyear.Undoubtedly,newdevelopmentswillemergealongsidetheseexistingfactors.Assomenationslookincreasinglyinward,Travel&Tourismbecomesevenmorecriticalasanengineofeconomicdevelopmentandasavehicleforsharingculturesandbuildingmutualunderstanding.Themosteffectivepolicyandinvestmentdecisionsaremadewithempiricalevidence.Fornearly30years,WTTChasbeenproudtoprovidetheonlyglobalcomparativeevidencebaseforTravel&Tourism’seconomicperformance.Thisdataempowersbothpublicandprivatebodiestomakesoundeconomicdecisionsthatcansupportsustainableandinclusivegrowthandprovidesthecomparativeevidencetoanalysetheimpacts.Asaresult,governmentsacrosstheworldarebetterabletostrategicallyplananddevelopmoreeffectivepolicies,enhancetheirdecision-makingrelatingtoinvestment,andfurthercooperatewiththeprivatesectortoensuretheTravel&Tourismsectorprovidesthegreatestopportunitiesforsocietiestoprosper.GloriaGuevaraManzoPresident&CEOCONTENTS01ECONOMICIMPACT:GLOBAL6ThetopnumbersontheglobalcontributionofTravel&Tourism,todayandintothefuture.02ECONOMICIMPACT:REGIONAL10AlookatTravel&Tourism'scontributionataregionallevel,includinghighlightsandkeydevelopments.03LARGEST&FASTESTGROWINGTRAVEL&TOURISMECONOMIES12Top20largestandfastestgrowingTravel&Tourismeconomies.04LEAGUETABLES14Alookatthetop10nationalmarketimpactsbyGDP,employment,visitorexportsandTravel&Tourismcapitalinvestment,todayandintothefuture.05GLOSSARY16KeytermsusedintheTravel&TourismEconomicImpact2019research.HIGHLIGHTSHIGHLIGHTS•Travel&TourismcontributedUS$8.8trilliontotheglobaleconomyin2018.Thisequatesto10.4%ofglobalGDP•Thesectorgrewby3.9%in2018;fasterthantheglobaleconomy’sgrowthof3.2%.Itoutpacedoveralleconomygrowthfortheeighthconsecutiveyear•Travel&Tourismwasthesecondfastest-growingsectorin2018,onlymarginallybehindManufacturing,whichgrewby4.0%•Acrosstheworldmorethan319millionpeople’sjobsaresupportedbyTravel&Tourism.Thisrepresents10.0%ofallemployment,oroneineverytenjobsworldwide.Thesectorhasaccountedforoneinfiveofallnetnewjobscreatedacrosstheworldoverthepastfiveyears•Ourforecastsshowthattherewillbe100millionadditionaljobscreatedacrosstheworldoverthenexttenyearsinTravel&Tourism.Thismeansthatoneineveryfournewjobswillbecreatedbythesectoroverthenextdecade•Intermsofspending,c