Economic Impact Report – आवारा मुसाफिर

Global Travel & Tourism Catapults into 2023 Says WTTC

April 27, 2023777 Views

# GDP contribution 5% off 2019 peak by the end of 2023 # Almost 22 million more Travel & Tourism jobs last year # International visitor spend up more than 80% The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) shows that the Travel & Tourism sector is closing in on its 2019 peak, recovering by more than 95%. In 2023, the sector is forecast to reach $9.5TN, just 5% below 2019 pre-pandemic levels when travel was at its highest. 34 countries have already exceeded 2019 levels. According to the research conducted by WTTC in collaboration with Oxford Economics, the global tourism body also forecasts that the sector will recover to 95% of the 2019 job level. A look back on last year Last year, despite the economic an...

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Beijing set to become World’s largest travel & tourism city destination

AWARA MUSAFIR BUREAU

February 16, 20231041 Views

Cities Economic Impact Report analysed 82 cities around the world including four major Chinese metropolises Research by the World Travel & Tourism Council (WTTC) has revealed that within the next decade, Beijing will overtake Paris to become the world’s largest Travel & Tourism city destination. The report, sponsored by Visa and researched in partnership with Oxford Economics, ana-lysed key indicators such as Travel & Tourism’s contribution to GDP, employment and traveller spend. But while long term the outlook for a number of Chinese cities looks positive, prolonged travel restrictions and border closures slowed down the recovery in the short term. Woman tourist walking in Wangfujing food street at Beijing, China. Copyright (c) 2017 Maridav/Shutterstock WTTC st...

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Tourists travelling back to North Africa’s biggest cities

AWARA MUSAFIR BUREAU

February 10, 20231003 Views

Cities Economic Impact Report analysed 82 cities around the world The World Travel & Tourism Council (WTTC) has revealed positive signs of recovery for the Travel & Tourism sector in key North African city destinations, providing a massive boost to economies across the region. The report, researched in partnership with Oxford Economics, analysed key indicators such as Travel & Tourism’s contribution to GDP, employment and traveller spend. The analysis of Cairo, Marrakech and Tunis shows that across all three cities, the direct GDP contribution from Travel & Tourism, sector jobs, and visitor spending are all bouncing back to pre-pandemic levels. The WTTC Cities Economic Impact Report shows that in 2019, the Travel & Tourism sector contributed over $5.6BN...

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Tourists heading back to Indian cities, says WTTC

AWARA MUSAFIR BUREAU

February 8, 2023702 Views

Cities Economic Impact Report analysed 82 cities around the world The World Travel & Tourism Council (WTTC) has revealed positive signs of recovery for the Indian Travel & Tourism sector with travellers heading back to its major cities. The report, sponsored by Visa and researched in partnership with Oxford Economics, analysed key indicators such as Travel & Tourism’s contribution to GDP, employment and traveller spend. The analysis of key indicators in Delhi and Mumbai shows that Travel & Tourism’s direct contribution to both cities’ GDP, jobs and visitor spending are all bouncing back to pre-pandemic levels. The WTTC Cities Economic Impact Report shows that in 2019, the city’s Travel & Tourism sector contributed almost ₹36,200 crore to Delhi’s economy...

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Tourists heading back to Australia, says WTTC

AWARA MUSAFIR BUREAU

January 31, 2023793 Views

Cities Economic Impact Report analysed 82 destinations around the world  The World Travel & Tourism Council (WTTC) has revealed positive signs of recovery for the Australian Travel & Tourism sector with major cities welcoming travellers once again. The Cities Economic Impact Report, sponsored by Visa and researched in partnership with Oxford Economics, analysed key Travel & Tourism metrics across 82 cities around the world, including contribution to GDP, employment and traveller spend. The analysis in Sydney, Melbourne, and Perth, shows that Travel & Tourism’s direct contribution to each cities’ GDP and jobs continues to rise. But prolonged border closures in Australia and key markets such as China, means visitor spending numbers are still low. GDP contribu...

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International cities remain the backbone of global travel & tourism

AWARA MUSAFIR BUREAU

November 30, 2022827 Views

Latest WTTC report shows global cities’ sector recovery is well underway The World Travel & Tourism Council (WTTC) launched its Cities Economic Impact Report (EIR) at the 22nd Global Summit in Riyadh on Wednesday. Sponsored by Visa, the report shows cities remain the powerhouses of global tourism and will drive the recovery of the sector and economies around the world. The Cities EIR analyses 82 international city destinations and shows that prior to the pandemic major cities were popular travel destinations, accounting for almost half of all international visits, both as standalone destinations and as gateways to other tourism hotspots within countries. FILE PHOTO: The view from an upper floor of the Central Park Tower shows Times Square, lower center, the Empire State Build...

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Saudi Arabia’s Travel & Tourism to grow fastest in the Middle East

AWARA MUSAFIR BUREAU

July 4, 2022631 Views

# Employment in the sector set to double by 2032# Sector expected to surpass pre-pandemic levels by next year The World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in Saudi Arabia is expected to grow at an average of 11% annually over the next decade, making it the fastest growing Travel & Tourism in the Middle East. According to the forecast from WTTC’s latest Economic Impact Report (EIR), this annual growth, more than six times the 1.8% growth rate of the country’s overall economy, will bolster the economic recovery of the Kingdom. By 2032, the Travel & Tourism sector’s contribution to GDP could reach nearly SAR 635 billion, representing 17.1% of the total economy. The forecast also reveals Travel & Tourism employment coul...

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Nearly 8M new travel & tourism jobs to be created in Europe

AWARA MUSAFIR BUREAU

May 13, 2022691 Views

# Sector expected to grow at double the rate of the overall economy over next 10 years# Europe’s Travel & Tourism sector bounce back could approach pre-pandemic levels next year The World Travel & Tourism Council’s latest Economic Impact Report (EIR) reveals Europe’s Travel & Tourism sector is expected to create nearly eight million new jobs within the next decade. The forecast from the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector, also shows the sector will be a driving force behind Europe’s economic recovery, following more than two years of suffering. FILE PHOTO: People spend time on the beach during a heatwave in Alimos suburb, south of Athens, Greece July 1, 2021. REUTERS/Costas Baltas Over the next...

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Global tourism to recover from pandemic by 2023, post 10-year growth spurt

AWARA MUSAFIR BUREAU

April 21, 2022551 Views

Expected to create nearly 126 million new jobs within the next decade, says WTTC report The global travel and tourism sectors are projected to return to pre-pandemic levels in 2023 and grow at a rate that will outpace global gross domestic product (GDP) growth, the World Travel and Tourism Council (WTTC) said on Thursday. The industry is expected to post an annual average growth rate of 5.8% from 2022 to 2032 versus the 2.7% increase in global GDP, and create 126 million new jobs, WTTC said in a report released during the industry group's conference in Manila. Report reveals the Travel & Tourism sector is expected to create nearly 126 million new jobs within the next decade. FILE PHOTO: A partially underwater shot shows the waters at the beach of Maya Bay as Thailand reopens ...