Travel & Tourism dominates global employment

Travel & Tourism dominates global employment

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

  • Destinations
  • News

APT Launches 2025 Asia Adventures

APT has launched its Asia Adventures for 2025, including new luxury holidays in India, Sri Lanka and Japan. Five new tours lead guests to the highlights of India, including a seven-night cruise along the rarely travelled Lower Ganges aboard the Ganges Voyager. Further south, Sri Lanka’s greatest destinations are revealed on a new 15-day Land […]

  • Cruise
  • Luxury
  • News

Seabourn announces Western Kimberley Traditional Owners as Godparents of Seabourn Pursuit

Seabourn has named Western Kimberley Traditional Owners, the Wunambal Gaambera, as Godparents of the ultra-luxury purpose-built Seabourn Pursuit. It is the first cruise line to appoint Traditional Owners as godparents of a ship. Seabourn Pursuit embarks on its inaugural season in the Kimberley region this June. The naming ceremony will take place on Seabourn Pursuit’s […]

  • Luxury

Malolo Island Resort opens brand new Spa

Fiji’s Malolo Island has added another string to its bow – opening its $1.3 million day spa on Thursday, 18th April 2024. (Lead Image: matriarch Rosie Whitton with spa staff) Located at the edge of the resort’s luscious patch of tropical rainforest, the new “Leilani’s Spa” adds another level of elevated experiences to Malolo’s already […]