WTTC: Tourism recovery by 2023

Global tourism will recover from the pandemic by 2023, says the World Travel and Tourism Council.

wttc international travel can safely restart without vaccines

The global travel and tourism industries are expected to return to pre-pandemic levels in 2023 and grow at a rate that will exceed the growth rate of world gross domestic product (GDP), as announced today by the World Travel and Tourism Council (WTTC) .

The tourism industry is expected to record an average annual growth rate of 5,8% from 2022 to 2023, compared to a 2,7% increase in world GDP, and to create 126 million new jobs, the WTTC said in a report released on Council conference in Manila.

In 2019, tourism accounted for one-tenth of global GDP and jobs, but the coronavirus pandemic 'decimated' the 9,6 trillion industry. reducing the value of the product produced by half and leaving 62 million people without jobs.

"The recovery is going to be so impressive that it will really recover with strength. "This, of course, depends on China 's' reopening,'" said WTTC President Julia Simpson, calling on all governments to reopen their borders.

China's zero-tolerance policy towards COVID and ongoing lockdowns have disrupted world trade and domestic and international travel.

The GDP of the travel and tourism industry is expected to reach 8,35 trillion. dollars this year and at 9,6 trillion. dollars in 2023, returning to pre-pandemic levels.

Jobs in the tourism industry are expected to recover to 300 million this year and 324 million in 2023, close to the 333 million recorded in 2019, according to the WTTC.

In the Asia-Pacific region alone, the GDP of the hospitality industry is likely to reach 3,4 trillion. dollars in 2023, already over 3,3 trillion. dollars recorded in 2019, according to the WTTC.

Compared to North America and Europe, there is a lag in travel in the Asia-Pacific region due to strict border restrictions in many countries. In Southeast Asia, travelers are now returning to airplanes as visitor and quarantine rules are lifted in the region. COVID-19. However, the full recovery will be slow, according to tourism industry figures.