Tourism has become a major industry, contributing significantly to the economies of many countries around the world. The World Tourism Organization (UNWTO) estimates that international tourist arrivals reached 1.4 billion in 2018, and this number is expected to continue growing in the coming years. With so many people traveling each year, it’s no surprise that tourism generates a significant amount of revenue worldwide.
According to the UNWTO’s latest data, international tourism receipts (which include spending by international visitors on accommodation, food and drink, entertainment, and other goods and services) reached $1.7 trillion in 2018. This represents an increase of 4% compared to the previous year.
The top ten countries in terms of international tourism receipts are:
- United States: $214 billion
- Spain: $73 billion
- France: $67 billion
- Thailand: $63 billion
- United Kingdom: $52 billion
- Italy: $49 billion
- Australia: $45 billion
- Germany: $43 billion
- Hong Kong SAR: $39 billion
- Macao SAR: $36 billion
These ten countries alone account for more than half of all international tourism receipts worldwide.
In terms of total contribution to GDP (including both direct and indirect impacts), the travel and tourism industry contributed:
- $8.8 trillion (10.4% of global GDP)
and supported:
- 319 million jobs (one in every ten jobs worldwide)
It’s clear that tourism is a significant contributor to the global economy, and its importance is only set to grow in the coming years. As more people travel and explore new destinations, opportunities for growth and development in the tourism industry will continue to emerge.