Travel & Tourism dominates global employment

Travel & Tourism dominates global employment
By elisegalati


The global Travel & Tourism sector employs more people than automotive manufacturing, mining and financial services combined, new research from the World Travel & Tourism Council (WTTC) reveals.

The Benchmarking Report 2015 compares Travel & Tourism to eight other sectors with similar breadth and global presence across 26 countries.

Of the eight researched sectors, the report shows that Travel & Tourism comes in third, just after retail and agriculture. In 2014, the industry supported 277 million jobs, or 9.4% of world employment.

It was also responsible for the direct employment of 105 million people. Thus the industry globally employs:
• 7 times more than automotive manufacturing (14 million)
• 5 times more than chemicals manufacturing (20 million)
• 4 times more than banking (27 million)
• 4 times more than mining (27 million)
• 2 times more than financial services (59 million)

According to the report, Travel & Tourism is the second-fastest growing sector globally and is predicted to expand at 3.9% per annum over the next ten years.

In this sense, this industry’s growth will outpace the global economy, which is estimated to increase by 2.9% per annum over the next decade.

In 2014, Travel & Tourism contributed US$7.6 trillion to GDP, establishing its position as the world’s fourth largest sector after mining, financial services and retail respectively.

“This research demonstrates the huge importance of Travel & Tourism in creating jobs around the world. It shows that this industry provides more jobs than automotive manufacturing, mining and financial services combined. It confirms that our sector is one of the biggest contributors to global GDP, and significantly is forecast to outpace the global economy every year over the next decade,” president and ceo, WTTC, David Scowsill said.

Latest News