How big is the tourism industry?

How big is the tourism industry? 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.

Is the tourism industry the largest in the world?

According to IBISWorld experts' analysis, the global tourism industry is ranked 5th on the list of the 10 global biggest industries by revenue. However, if we rank the industry's size by employment, the travel industry comes in as the first one.

Is tourism the largest and fastest growing?

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.

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.

Is tourism the fastest growing industry in the UK?

Since 2010 tourism has been the fastest growing sector in the UK in employment terms. Britain is forecast to have a tourism industry worth over £257 billion by 2025.

Where does the UK rank in tourism?

The Travel and Tourism Development Index ranked the UK as the fifth-best country for non-leisure travel worldwide in 2021, and the first-best country in Europe.

What is the least visited place in the world?

In terms of actual visitor numbers, the following list represents the nations that receive relatively few tourists, with Nauru claiming the title of the least visited country in the world. List of the United Nations World Tourism Organization.

Is tourism one of the biggest businesses?

Tourism made up 10 percent of global GDP in 2019 and was worth almost $9 trillion, ¹. making the sector nearly three times larger than agriculture.

Which country earns most from tourism?

Revenue of travel & tourism market selected countries worldwide 2022. The United States is leading the ranking by revenue in the travel & tourism market, recording 175.43 billion U.S. dollars.