How Much Money Is Spent On Tourism Each Year Worldwide?

In 2022, travel and tourism contributed approximately 7.7 trillion US dollars to the global GDP, with export revenues from international tourism dropping 62 in 2020 and 59 in 2021 compared to 2019. However, they rebounded in 2022, remaining 34 below pre-pandemic levels. The Travel and Tourism sector contributed 9.1 to the global GDP, an increase of 23.2 from 2022 and only 4.1 below 2019 levels.

Travel and tourism spending worldwide grew by approximately 21.5% in 2023 compared to the previous year. Domestic travelers’ total spending amounted to 4.86 trillion USD, while international tourism exports reached USD 1.7 trillion. Revenues from visitor spending have grown faster than the world, with leisure trips accounting for around 80 percent of global travel and tourism spending.

The global Travel and Tourism Spending market size is estimated to be USD 14845295.6 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.00. Travel and tourism’s financial footprint was the largest since the golden age of tourism, representing 9.1 of global GDP at just over $9.9TN in 2023. Today, 10.4 of the world’s GDP and 7 of the world’s total exports come from tourism, worth over US$ 1.1 trillion.

International tourism receipts reached USD 1.4 trillion in 2023, about 93 of the USD 1.5 trillion earned by tourism. The U.S. travel and tourism industry generated $1.9 trillion in economic output, supporting 9.5 million American jobs and accounting for 2.9 of U.S. GDP.

What is the yearly tourism revenue?

India’s tourism sector is a significant contributor to the country’s GDP, with Forbes ranking it as the 7th most beautiful country in the world. The World Travel and Tourism Council estimates that tourism generated 5. 8 of India’s GDP and supported 32. 1 million jobs in 2021. Despite lower numbers than pre-pandemic figures, the economy experienced significant growth in 2021 after the massive downturn during 2020. The sector is predicted to grow at an annual rate of 7. 8 to $33. 8 lakh crore (US$400 billion) by 2031, accounting for 7. 2 of GDP.

India has established itself as the 5th largest global travel healthcare destination, with an estimated market size of around $9 billion in 2019. In 2014, 184, 298 foreign patients travelled to India for medical treatment. In 2022 and 2021, over 6. 19 million and 1. 52 million foreign tourists arrived in India, respectively, compared to 10. 93 million in 2019, representing a -44 degrowth.

India’s domestic tourist population makes it the 22nd most visited nation in the world and 8th in Asia and Pacific. Domestic tourist visits to all states and union territories numbered 1, 036. 35 million in 2012, an increase of 16. 5 from 2011. In 2022, Gujarat topped India in foreign tourism with 20. 17 shares, and Gujarat rose as a global tourism hotspot with over 15. 40 lakh tourists visiting in 2023.

The World Economic Forum’s Travel and Tourism Development Index 2021 ranks India 54th out of 117 countries overall, with the price competitiveness of India’s tourism sector ranking 13th out of 140 countries. India also scores high on natural resources, cultural resources, and business travel.

What percentage of the GDP is tourism?

In 2023, travel and tourism’s contribution to global GDP declined by 1. 3 percentage points compared to 2019, the year before the COVID-19 pandemic. These industries made up 9. 1% of the global GDP, contributing nearly 10 trillion U. S. dollars. The pandemic’s lockdowns and travel restrictions impacted travel and tourism, with job growth but slightly below pre-pandemic levels. International tourist arrivals also lagged pre-pandemic levels, with Europe being the global region with the highest number of international tourist arrivals. Despite a rebound in 2022 and 2023, the number of international tourist arrivals remained below the peak of nearly 1. 5 billion reported in 2019.

Who spends the most money on international tourism?

In 2023, China ranked highest in outbound tourism expenditure, spending 196. 5 billion U. S. dollars. This was a sharp increase from 2019, the year before the COVID-19 pandemic. The United States and Germany followed in the ranking. International tourist arrivals reached 1. 3 billion in 2023, growing significantly over the previous year but not catching up with the peak from 2019. International tourism receipts exceeded pre-pandemic levels, reaching 1.

5 trillion U. S. dollars. Europe was the global region with the highest number of inbound tourist arrivals, surpassing 700 million in 2023. Asia and the Pacific reported around 240 million inbound tourist arrivals. Overall, global tourism has recovered from the pandemic’s impact.

What is the world tourism revenue?

In 2023, global international tourism receipts surged after the COVID-19 pandemic, reaching a record high of 1. 5 trillion U. S. dollars. Europe, the most popular global region for international travelers, saw France, followed by Spain, the United States, and Italy, as the most visited countries by inbound tourists. The pandemic’s impact on tourism receipts led to a decline in the number of international tourists, but the recovery has been significant.

How much money does tourism bring to the world?

In 2023, travel and tourism contributed to the global GDP by 4%, reaching 9. 9 trillion U. S. dollars. This figure is predicted to reach 11. 1 trillion U. S. dollars in 2024, surpassing pre-pandemic levels. GDP, the total value of goods and services produced in a country, is an indicator of a country’s economic strength. The United States and China were the leading travel markets before and after the COVID-19 pandemic, followed by Germany, the United Kingdom, and Japan.

The number of international tourist arrivals increased significantly in 2023, with France welcoming 100 million visitors, followed by Spain and the United States. However, the number of international tourist arrivals did not catch up with pre-pandemic levels.

Which country has the most money from tourism?

The US leads the travel and tourism market in revenue with 204. 45 billion U. S. dollars, followed by China with 149. 18 billion U. S. dollars, and Canada with 16. 75 billion U. S. dollars, resulting in a difference of 187. 7 billion U. S. dollars. Other insights include a ranking by country regarding revenue in the market and a subsegment in the Netherlands’ Cruises segment. Statista Market Insights covers a wide range of markets.

Who is the biggest spender on tourism?

China has regained its top spot as the top international tourism spender in 2023, following its recovery from the pandemic. The US led the list of top spenders in 2022, followed by France, Spain, and the USA. Chinese expenditure on travel abroad reached USD 196. 5 billion in 2023, ahead of the US, Germany, the UK, and France. Canada, Italy, India, the Russian Federation, and the Republic of Korea also made up the top ten spenders. India rose to 8th place, while Italy rose from 10th to 7th place.

France, Spain, and the USA consolidated their positions as the world’s most visited destination in 2023, with 100 million international tourist arrivals. Spain followed with 85 million, followed by the US, Italy, and Turkey, which closed the top five with 55 million tourists.

Which country is most reliant on tourism?

In 2019, Macau, a city and special administrative region of the People’s Republic of China, generated the highest share of GDP from direct travel and tourism globally, accounting for over half of its GDP. The Maldives, which began developing its travel and tourism industry in the 1970s, also had the second highest share of GDP, accounting for over 30% of GDP in 2019. GDP is the total value of all goods and services produced in a country in a year, and a positive change in GDP indicates economic growth.

The direct contribution of travel and tourism to GDP reflects both internal spending by residents and non-residents for business and leisure purposes and government spending on services directly linked to visitors, such as cultural or recreational activities.

How big is the tourism economy?

The travel and tourism sector contributes 7. 7 trillion dollars to global GDP, with an upward trend compared to previous years. In 2022, the industry maintained a recovery mode, aiming to create more jobs and contribute more to the global economy. Revenue from tourists reached $1 trillion, with over 900 million people traveling globally. The travel industry created millions of jobs and contributed to overall economic growth, with all dimensions evolving and growing over time.

How much is tourism worth?

Travel and tourism contributed approximately 7. 7 trillion U. S. dollars to the global GDP in 2022, making up 7. 6% of the total GDP. The industry is highly competitive, with an endless variety of destinations, activities, modes of transport, and accommodation available. In 2023, it contributed 9. 9 trillion U. S. dollars, making up 9. 1% of the total GDP. The United States and China emerged as the leading travel markets, with France being the destination with the highest number of inbound tourists. Paris, the capital city of France, hosted the Louvre, the world’s most visited museum, with 8. 9 million visitors in 2023.

The digitalization of the global tourism industry has led to the global online travel market, which amounted to nearly 600 billion U. S. dollars in 2023, forecasted to exceed 800 billion U. S. dollars by 2028. Leading travel companies in the online market include Booking Holdings Inc. and Expedia, which use fare aggregators and metasearch engines to help consumers find their preferred travel-related products and services. Airbnb, an online marketplace for short-and long-term homestays, has taken the accommodation world by storm since its founding over 15 years ago.