The global travel & tourism sector now employs more people than automotive manufacturing, mining and financial services combined globally, according to new research from the World Travel & Tourism Council (WTTC).
The WTTC’s Benchmarking Report 2015 compares travel & tourism to eight other sectors, which are considered to have similar breadth and global presence, across 26 countries. Travel & tourism comes third out of the eight researched sectors, after retail and agriculture. According to the WTTC’s findings, the industry supported 277 million jobs in 2014, accounting for 9.4 per cent of world employment.
Forecast to grow at 3.9 per cent annually over the next ten years, this industry’s growth will outpace the global economy, which is estimated to increase annually by 2.9 per cent over the next decade.
The full report can be viewed here.