New research from the World Travel & Tourism Council (WTTC) has revealed the global Travel & Tourism sector’s contribution to the global economy could reach $8.6 trillion this year, just 6.4% behind pre-pandemic levels.
In 2019, before the pandemic stopped travel in its tracks, the Travel & Tourism sector generated nearly $9.2 trillion to the global economy.
However, in 2020, the pandemic brought the sector to an almost complete standstill, causing a massive 49.1% drop, representing a severe loss of nearly $4.5 trillion.
The latest research shows that, as the world finally begins to recover from pandemic, the sector’s contribution to both the global economy and employment could reach almost pre-pandemic levels this year.
The research also shows that if the vaccine and booster rollout continue at
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