By Kavita Mistry 
The World Travel & Tourism Council (WTTC) opened its 25th Global Summit in Rome with the release of its latest research, highlighting the sector’s strong global performance and long-term growth potential.
The report shows that Europe remains central to international travel, with five of the world’s top 10 travel and tourism markets by GDP. Italy’s hosting of the summit, combined with its G7 status, reflects the country’s rising influence. Italy’s sector contributed USD 248.3 billion in 2024, supported by international visitors and a strong meetings and events industry.
Germany, the world’s third most powerful market, contributed USD 525 billion in 2024. The UK generated USD 367 billion despite a decline in international visitor spend, while France and Spain added USD 289 billion and USD 270 billion respectively. This broad-based growth reflects Europe’s ability to combine cultural heritage with innovation and sustainability.
Gloria Guevara, WTTC Interim CEO, said: “These results tell a story of strength and opportunity. The US remains the world’s largest travel and tourism market, China is surging back, Europe is powering ahead, and destinations across the Middle East, Asia, and Africa are delivering record growth. This year, we are forecasting that our sector will contribute an historic USD 2.1 trillion in 2025, surpassing the previous high of USD 1.9 trillion in 2019, by USD 164 billion. As Italy hosts this year’s Global Summit, its role as a G7 leader showcases the importance of tourism in driving economies, creating jobs, and shaping our shared future.”
The US retained its top position, contributing USD 2.6 trillion to GDP in 2024, driven largely by its domestic market. However, international visitor spending is forecast to decline by USD 12.5 billion in 2025. China, the world’s second largest market, contributed USD 1.64 trillion in 2024 and is forecast to grow 22.7 per cent this year, highlighting its rapid resurgence. Japan, the fifth largest market, is expected to grow from USD 310.5 billion to nearly USD 325 billion.
In the Middle East, Saudi Arabia continues to attract attention as a growing global hub, with record inbound spend and large-scale investment in infrastructure such as airports and cruise terminals.
Globally, travel and tourism supported 357 million jobs in 2024 and is projected to rise to 371 million in 2025. By 2035, one in eight jobs worldwide is expected to be linked to the sector. Investment confidence remains high, with USD 1 trillion invested in 2024, led by the US , China, Saudi Arabia, and France. Italy drew EUR 11.4 billion, reinforcing its appeal as a European tourism hub.
In 2025 and the following years, uncertainties surrounding trade tariffs and rising geopolitical tensions could limit the sector’s
expansion.
The growth of Travel & Tourism’s total contribution to GDP in 2025 is forecast to slow to 6.7 per cent , gradually trending back to the average growth rate experienced in the years prior to the pandemic. However, this would still be a stronger growth rate than the 2.5 per cent annual growth rate projected for the total economy.
Consequently, the sector is set to contribute USD 11.7 trillion globally – equal to a 10.3 per cent
share of the world economy. The number of jobs supported by the sector is expected to increase by 14.4 million, lifting the sector’s
total contribution to employment to 371 million jobs.
This would represent 10.9 per cent share of all jobs in the entire global economy.
One projected milestone for 2025 is the complete recovery of spending by international visitors. In fact, it is forecast to grow 8.6 per cent above the 2019 level, reaching nearly USD 2.1 trillion.
At the same time, spending by domestic visitors is forecast to rise 13.6 per cent above
the 2019 level, with a projected spending of USD 5.6 trillion. In terms of annual growth, international and domestic visitor spending are forecast to grow 10 per cent and 5.1 per cent respectively.
According to the report, Travel & Tourism supported 357MN jobs in 2024 and is set to rise to 371MN in 2025, along with an increase in the sector’s share of global employment.
By 2035, one in eight jobs worldwide will be supported by Travel & Tourism, with an additional 91MN new jobs supported, the majority in the Asia-Pacific region, resulting in one in three new jobs globally supported by the sector.
The summit is being hosted in partnership with the Italian Ministry of Tourism, ENIT (the Italian tourist board), the Municipality of Rome, and the Lazio Region, alongside WTTC partners including Chase Travel, MSC Group, Trip.com Group, and others.
