How much money do tourists spend?
How much money do tourists spend? Despite the significant increase, both domestic and international travel spending remained below pre-pandemic levels, totaling roughly 3.9 trillion and 1.1 trillion U.S. dollars, respectively.
Does tourism make a lot of money?
Tourism is an important sector in the global economy. Today, 10.4% of the world's GDP and 7% of the world's total exports come from tourism. The industry is worth over US$ 1.1 trillion.
How many people rely on tourism?
A total of 330 million jobs are supported by this industry around the world, and it contributes 10%, or $8.9 trillion to global GDP each year.
How big is the tourism economy?
Despite the sharp increase, the market size of tourism worldwide remained below pre-pandemic levels, totaling around two trillion U.S. dollars in 2022. As forecast, this figure is expected to rise to nearly 2.29 trillion U.S. dollars in 2023, surpassing the peak reported in 2019.
Is tourism the largest industry in the world?
According to IBISWorld experts' analysis, the global tourism industry is ranked 5th on the list of the 10 global biggest industries by revenue. However, if we rank the industry's size by employment, the travel industry comes in as the first one.
Which country has highest GDP from tourism?
In 2022, the United States reported the highest total contribution of travel and tourism to GDP, with these industries generating, directly and indirectly, roughly two trillion U.S. dollars.
Who are the top 5 biggest spenders on international tourism?
Aside from China, the United States have been at or near the top of the ranking for the past three decades, with travelers from Germany, France and the UK also spending freely abroad.
Does tourism make good money?
Today, 10.4% of the world's GDP and 7% of the world's total exports come from tourism. The industry is worth over US$ 1.1 trillion. The money earned from expenditures by foreigners are crucial drivers of economic development and can be an important source of foreign exchange.