One of the fastest growing sectors, travel and tourism is set to create more than 4.5 million new jobs in the EU by 2035, according to the World Travel & Tourism Council (WTTC).
Based on the findings of the latest Economic Impact Research, jobs in travel and tourism in the EU are estimated at reaching over 30 million in the next decade. This means that one in seven jobs across the EU will be supported by the travel and tourism industry, reinforcing its status as one of the bloc’s most strategic economic drivers.
The report goes on to add that the sector’s contribution to GDP is set to increase by almost 2.3 trillion euros by 2035, with its economic share climbing to just under 11%, over the same period.
Other key takeaways of the study include:
– the sector is forecast to generate over 900 billion euros annually in tax revenue for EU governments
-international visitor spending is expected to reach 730 billion euros over the next 10 years, with domestic visitor spending set to exceed 1.2 trillion euros
– this year, the sector is forecast to contribute nearly 1.9 trillion euros to EU GDP, accounting for 10.5% of the EU economy
– employment in travel and tourism is expected to reach almost 26 million euros or 12% of all EU jobs
– in 2025, international visitor spending is expected to reach 573 billion euros, up by more than 11% year-on-year. Domestic spending is also projected to grow 1.6% year-on-year to 1.1 trillion euros
– in 2024, the sector contributed approximately 1.8 trillion euros to GDP, a 6% increase over pre-pandemic 2019 levels
– the number of jobs in the sector also rose by nearly 5% year-on-year to over 24.5 million or one in nine jobs in the EU.
“The EU’s Travel & Tourism sector continues to show resilience, driving jobs, innovation, and regional growth. The next decade is a chance to build a more connected and sustainable, strengthening resilience in established tourism destinations, and opening new ones across Europe,” said WTTC President & CEO Julia Simpson.
In relevant news, the WTTC announced that it will be hosting its 2025 Global Summit in Rome this September, bringing together world leaders and travel and tourism stakeholders to discuss innovation, investment and resilience.
Source: Tovima.com
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