At its 25th Global Summit in Rome today, the World Travel & Tourism Council (WTTC) launched its latest report, revealing that Europe remains the beating heart of international tourism, with five of the world’s top 10 most powerful Travel & Tourism markets by GDP.
The return of the WTTC Global Summit to Europe, for the first time since the pandemic reflects the region’s enduring global leadership.
Italy’s position as a G7 nation and as host of this year’s Global Summit further underlines its leadership role, building on hosting last year’s first-ever G7 Tourism Ministers’ Meeting.
According to the latest data, Italy’s Travel & Tourism sector reached $248.3BN last year, underpinned by strong international visitor spend and a booming meetings and events industry.
Germany, the world’s third most powerful Travel & Tourism market, contributed $525BN to its GDP in 2024.
Despite losing £2.2BN international visitors spending last year, the UK added $367BN to its economy, maintaining its position as one of the strongest and most dynamic markets worldwide.
France, the world’s most visited destination, generated over $289BN from Travel & Tourism in 2024, whilst Spain, the second most visited country in the world, added $270BN.
This broad-based growth demonstrates Europe’s ability to blend heritage with innovation, maintain global competitiveness, and lead the way in sustainable tourism development.
WTTC Interim CEO Gloria Guevara said: “These results tell a story of strength and opportunity. The U.S. remains the world’s largest Travel & Tourism market, China is surging back, Europe is powering ahead, and destinations across the Middle East, Asia, and Africa are delivering record growth. This year, we are forecasting that our sector will contribute an historic $2.1TN in 2025, surpassing the previous high of $1.9TN in 2019, by $164BN.
“As Italy hosts this year’s Global Summit, its role as a G7 leader showcases the importance of tourism in driving economies, creating jobs, and shaping our shared future.”
Around the World
The report also reveals that the U.S. remains the world’s most powerful Travel & Tourism market, contributing $2.6TN to GDP in 2024, with its domestic market remaining the strongest in the world, sustaining millions of jobs and underpinning sector resilience.
However, WTTC forecasts international visitor spending in the U.S. will fall by $12.5BN in 2025, leaving growth at just +0.7%. WTTC has warned that without destination promotion, traveller-friendly policies, and reduced visa costs, it could lose its competitive edge.
China, the world’s second-largest Travel & Tourism market, contributed $1.64TN to its economy in 2024, and is forecast to surge by 22.7% in 2025, adding $260BN to its economy, highlighting China’s rapid return to international prominence and its pivotal role in shaping global travel flows.
Japan, the world’s fifth largest Travel & Tourism economy with a $310.5BN contribution in 2024, is forecast to add a further $13.8BN to its GDP this year to reach almost $325BN.
Travel & Tourism is now growing faster than the consumer goods sector, showing how people increasingly value experiences over material goods.
The Economic Impact Research Trends report shows that Travel & Tourism is cementing its role as a cornerstone of the global economy.
Middle East Momentum
The Middle East remains one of the fastest-growing regions in the world for Travel & Tourism, with Saudi Arabia continuing to stand out as a global powerhouse, with inbound visitor spend surging and infrastructure investment reaching record levels.
Across the region, capital is flowing into airports, cruise terminals, and cutting-edge hospitality projects, signalling long-term confidence in its ambition to become a global tourism hub.
Jobs Boom Across the World
According to the report, Travel & Tourism supported 357MN jobs in 2024 and is set to rise to 371MN in 2025, along with an increase in the sector’s share of global employment.
By 2035, one in eight jobs worldwide will be supported by Travel & Tourism, with an additional 91MN new jobs supported, the majority in the Asia-Pacific region, resulting in one in three new jobs globally supported by the sector.
Long-Term Confidence
Confidence in Travel & Tourism remains unshakable. Global investment in the sector surpassed $1TN in 2024, up 9.9% year-on-year, and is forecast to continue climbing in 2025.
The U.S., China, Saudi Arabia, and France together accounted for more than half a trillion dollars of that investment.
Italy attracted €11.4BN in 2024, reinforcing its position as one of Europe’s most attractive destinations for sustainable and innovative tourism development.
The Global Summit is hosted in partnership with the Italian Ministry of Tourism, ENIT (the Italian national tourist board), the Municipality of Rome, and the Lazio Region.
Other WTTC Partners include Antonio Lefebvre d’Ovidio Di Bolsonaro Philantrophy, Arsenale Spa, Chase Travel (JPMC), Giacomo Milano, MMGY, MSC Group, Terme di Saturnia, and Trip.com Group.
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Source: breakingtravelnews.com
