How big is the international tourism industry?
How big is the international tourism industry? The market size of the Global Tourism industry is measured at $2.3tr in 2023.
Is tourism the largest export in the world?
This accounts for 29% of global service exports and 7% of overall exports of goods and services. These figures consolidate international tourism among the top five economic sectors in the world, behind chemical manufacturing and the fuel industry but ahead of the food and automotive industries.
Is global tourism increasing?
Twice as many people voyaged during the first quarter of 2023 than in the same period of 2022. International arrivals reached 80% of pre-pandemic levels in the first three months of 2023. Tourism receipts in countries like France, Germany, Italy and the U.S. have climbed up to 85% of 2019 levels.
How much of world economy is tourism?
Overall, these industries represented 7.6 percent of the global GDP in 2022. That year, the total contribution of travel and tourism to the global GDP amounted to 7.7 trillion U.S. dollars.
Where does tourism rank as a global industry?
Where does the Global Tourism industry rank in terms of market size in 2023? The Global Tourism industry is the 1st ranked Additional Global Reports industry by market size and the 9th largest.
How big is the tourism economy?
Despite the sharp increase, the market size of tourism worldwide remained below pre-pandemic levels, totaling around two trillion U.S. dollars in 2022. As forecast, this figure is expected to rise to nearly 2.29 trillion U.S. dollars in 2023, surpassing the peak reported in 2019.
Which country has the fastest growing tourism industry?
27, 2022 /PRNewswire/ -- Saudi is the fastest growing tourism destination in the G20. Saudi Arabia's exponential sector growth has seen an extraordinary +121% increase from pre-pandemic international tourism levels as recognized by the newly published UNWTO Tourism Barometer.
Is tourism a fast growing industry?
When compared with other sectors, travel and tourism also ranks among the fastest growing. With a GDP growth rate of 3.5% in 2019, travel and tourism trailed only behind information and communication and financial services.
Does tourism have a future?
Longer-term forecasts also point to optimism for the decade ahead. Travel and tourism GDP is predicted to grow, on average, at 5.8 percent a year between 2022 and 2032, outpacing the growth of the overall economy at an expected 2.7 percent a year. 5.
Does Spain rely on tourism?
The tourism industry is an important engine of the Spanish economy and employment (2.5 million jobs).
Where does Spain rank in tourism?
Which country is number 1 in tourism?
France is the most visited country in the world with 117,109,000 international tourists, thanks to its rich history and iconic landmarks. Mexico comes in second for most visited countries, with 51,128,000 tourists, offering vibrant culture and stunning natural beauty.