Abstract:
Travel & Tourism is one of the world’s largest sectors, accounting for 10.3% of global GDP and 330 million jobs, or 1 in 10 people on the planet in 2019. The sector’s growth reached 3.5% in 2019, a rate higher than that of the global economy for the ninth consecutive year, thereby enriching local communities at a faster rate than many other sectors. Over the past five years, one in four of all new jobs created across the world has been in Travel & Tourism. The sector has tremendous social impact on local communities and the lives and livelihoods of people touched by Travel & Tourism. Through the revenues and jobs that it provides, Travel & Tourism helps reduce poverty and improve health, housing, education, and overall well-being. It supports diversity and inclusion, employing and offering opportunities to people from all walks of life, including minorities, youth, and women. Travel & Tourism has a unique ability to further protect and engage vulnerable groups and communities, while fostering innovation and preserving local heritage and culture.
