One of the fastest growing sectors, travel and tourism is set
One of the fastest growing sectors, travel and tourism is set to create more than 4.5 million new jobs in the EU by 2035, according to the World Travel & Tourism Council (WTTC).
Based on the findings of the latest Economic Impact Research, jobs in travel and tourism in the EU are estimated at reaching over 30 million in the next decade. This means that one in seven jobs across the EU will be supported by the travel and tourism industry, reinforcing its status as one of the bloc’s most strategic economic drivers.
The report goes on to add that the sector’s contribution to GDP is set to increase by almost 2.3 trillion euros by 2035, with its economic share climbing to just under 11%, over the same period.
Other key takeaways of the study include:
– the sector is forecast to generate over 900 billion euros annually in tax revenue for EU governments
-international visitor spending is expected to reach 730 billion euros over the next 10 years, with domestic visitor spending set to exceed 1.2 trillion euros
– this year, the sector is forecast to contribute nearly 1.9 trillion euros to EU GDP, accounting for 10.5% of
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