US remains the leading travel and tourism market
Monday, September 12, 2022
New data provided by the World Travel & Tourism Council (WTTC) has identified that the US remains the largest and most powerful tourism and tourism market in the world.
Research by Oxford Economics for the WTTC shows no change in the top three - China comes in at number two, and Germany at place three.
According to the WTTC's Economic Trends Report, America's travel and tourism industries contributed $1.3 trillion last year to the overall economy, down $700 billion from what was announced in 2019.
WTTC data show China's participation in GDP (in the travel and tourism industry) kept the UK second on the list at more than $814 billion annually, while Germany remained the third largest travel industry, at $251 billion to Germany's economy.
When it comes to top international destinations, France overtook Spain, China and the USA to capture the number one spot in overall travel spending.
Its members include 200 CEOs, Chairmen and presidents of major travel and tourism companies around the world; representing every sector of the travel industry.
'Our report shows the resilience of the Travel & Tourism sector, despite the impact of travel restrictions around the world which failed to halt the spread of the virus,' said Julia Simpson, CEO of the WTTC.
For over 30 years, the WTTC has engaged in making governments and the public aware of the economic and social importance of travel and tourism.