WTTC’s latest Economic Impact Research forecasts travel and tourism growth will contribute USD$12 trillion globally by 2035, reinforcing the sector’s long-term economic power.
The global travel and tourism sector is set to remain an economic powerhouse over the next decade, with the World Travel & Tourism Council forecasting growth 1.5 times faster than the wider economy.
According to WTTC’s latest Economic Impact Research, the sector is forecast to contribute USD$12 trillion (around AUD$16.6 trillion) to the global economy by 2035.
It comes as global travel and tourism growth hit a record USD$11.6 trillion (around AUD$16.24 trillion) in 2025 with Asia Pacific leading the rebound.
The data points to continued momentum with global travel and tourism growth forecast at 3.2 per cent in 2026, ahead of wider economic growth at 2.4 per cent.
WTTC’s latest report also predicts travel and tourism growth will support almost 89 million new jobs globally over the next decade.
That represents around one-third of all new jobs across the wider economy, underlining the sector’s role as a major source of employment as well as GDP growth.
In Oceania, the travel and tourism industry is forecast to contribute 11.9 per cent to GDP and account for 12.1 per cent of employment by 2035, representing three million jobs.
In Europe, the travel and tourism sector is forecast to outperform the wider regional economy in 2026, reinforcing its role as one of the continent’s strongest drivers of growth, jobs and investment.
While wider European GDP growth is forecast to reach just one per cent in 2026 amid continued inflationary pressures and economic uncertainty, travel and tourism GDP across Europe is expected to grow by 3.6 per cent, nearly four times faster.
Southern European destinations continue to lead the region’s momentum with Spain, Italy, France and Türkiye standing out as Europe’s strongest-performing major tourism economies.
WTTC’s latest Economic Impact Research also shows the sector continues to demonstrate resilience, even as households face rising costs and persistent value-seeking behaviour.
KARRYON UNPACKS: WTTC’s latest outlook gives travel businesses a strong confidence signal: despite cost pressures, tourism remains a growth engine, jobs creator and strategic investment priority across global markets.
