The World Travel & Tourism Council (WTTC) predicts travel to contribute USD $8.6 trillion to the global economy in 2022.
That’s just 6.4 per cent behind pre-pandemic levels, with the sector generating nearly USD $9.2 trillion to the global economy in 2019. In comparison, 2020’s contribution dropped by $4.5 trillion due to the pandemic, losses of nearly 49.1 per cent.
The WTTC says that if current vaccine and booster rollouts continue “at pace” in 2022, and global restrictions to international travel are eased throughout the year, the sector could create 58 million jobs in 2022, to reach more than 330 million, just 1 per cent below pre-pandemic levels and up by 21.5 per cent compared to 2020.
2019 WTTC research showed that the sector generated 10.4 per cent of global GDP and more than 330 million jobs. To reach close to pre-pandemic levels this year, WTTC says governments around the world must continue focusing on the vaccine and booster shot rollout, as well as allowing fully vaccinated travellers to move freely without the need for testing.
“Over the past two years, the global Travel & Tourism sector has suffered tremendous losses,” said Julia Simpson, WTTC President & CEO.
“2022 is poised for a strong recovery if governments continue to open up and remove restrictions to travel.”
In addition, the WTTC urged governments to drop the “patchwork of restrictions” and enable international travel using digital, contactless solutions that allow travellers to prove their status in a “fast, simple and secure way.”
