Without Tourism, How Many Economies Would Collapse?

The UNWTO data indicates a return to 95 of pre-pandemic tourist numbers by the end of the year, with the IMF report highlighting the positive impact of tourism on certain economies worldwide. The UN Tourism Data Dashboard provides statistics and insights on key indicators for inbound and outbound tourism at global, regional, and national levels. In 2023, the Travel and Tourism sector contributed 9.1 to the global GDP, an increase of 23.2 from 2022 and only 4.1 below the 2019 level.

The October World Economic Outlook projected the global economy would contract by 4.4% in 2020, with the shock in tourism-dependent economies being far worse. The Travel and Tourism sector is an important driver of economic prosperity, jobs, income, and wellbeing in OECD countries and beyond. The impact of the COVID-19 pandemic on tourism could result in a more than $4 trillion loss to the global economy, according to UN trade and development body UNCTAD.

International tourist arrivals are estimated to have fallen 74% in 2020 compared to 2019, with export revenues from tourism potentially falling by $910 billion to $1.2 trillion in 2020. This will have a wider impact and could reduce global GDP by 1.5 to 2.8. UNCTAD estimates losses in the most pessimistic scenario, a 12-month break in international tourism, at $3.3 trillion or 4.2 of global GDP.

In a world without travel, the earth would flourish, but not the people who call it home. Any drop in tourism means a double hit to the people who call it home. The collapse of tourism due to the pandemic wiped out 1.6 million jobs in five Asian countries alone last year.

How much does tourism affect the economy?

Tourism is a vital contributor to global economic growth, accounting for about 10% of global GDP and employing one in ten people worldwide. It stimulates local economies by direct spending on goods and services, creating jobs in hotels, restaurants, and related businesses. Tourism also creates a wide range of jobs in hospitality, travel services, retail, and transportation industries, making it a vital source of employment in regions with high unemployment rates. Additionally, tourism helps preserve cultural heritage by providing financial resources for the maintenance of sites and traditions, often funded by entrance fees from tourists.

How much of Japan’s GDP is tourism?

Japan’s Travel and Tourism sector is expected to contribute nearly ¥44. 6TN to the economy in 2024, accounting for 7. 5 of the country’s GDP. The sector is expected to create over 6 million jobs, a 10% increase from the previous year and 209. 7K more than the previous high point. International visitor spending is expected to reach ¥6. 3TN, while domestic visitor spending is projected to reach nearly ¥24. 9TN, surpassing 2019 levels.

Is tourism important to the global economy?

Tourism has become increasingly important, accounting for 10% of global GDP in 2023 and directly affecting one in ten jobs worldwide. The Global South has seen a continuous increase in the importance of tourist destinations, with international arrivals in developing countries and emerging economies increasing from 26% in 1995 to 38% by 2010. The German Ministry launched a COVID-19 support package to help manage, recover, and resilience in the tourism sector in response to the challenges posed by the pandemic in its partner countries.

Does tourism benefit the poor?

Tourism has the potential to stimulate economic growth at the local level. This is achieved by generating revenue through taxation, entry fees, and the sale of goods and services. These funds can then be reinvested into social welfare programs, infrastructure development, and education, thereby assisting impoverished communities.

What country has the highest GDP from tourism?

In 2023, the United States surpassed pre-pandemic levels in terms of travel and tourism contribution to GDP, with a total of 2. 36 trillion U. S. dollars. China and Germany followed closely, with travel and tourism contributing around 1. 3 trillion and 488 billion U. S. dollars, respectively. The total contribution of travel and tourism to global GDP reached just under 10 trillion U. S. dollars in 2023. GDP, the total value of goods and services produced in a country in a year, is a crucial indicator of a country’s economic strength.

Is tourism good or bad for the world?

Tourism, a vital industry for low-income countries, can have both positive and negative impacts on people and the environment. While the industry generates significant revenue, it also presents challenges in terms of social, economic, and environmental sustainability. It is of the utmost importance to implement effective management strategies in order to guarantee the long-term sustainability of tourism.

Which country earns most 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.

What are the 5 negative effects of tourism?

Tourism can have negative impacts on water overuse, environmental pollution, displacement of locals, carbon footprint, and ocean health. Luxury hotel guests use as much water as developing country residents do in three years, leading to scarcity for residents. To reduce waste, guests should refuse housekeeping, hang a ‘Do Not Disturb’ sign on doors, and opt for cotton fabrics for towels and linens.

Additionally, they should avoid using disposable items like towels and bedsheets, as they can deplete local water supplies. Lastly, tourism can encourage the displacement of locals, leaving a large carbon footprint and harming ocean health.

What percentage of GDP is tourism revenue?

Tourism GDP in Australia increased by 77 percent from $35. 6 billion in 2021-22 to $63 billion in 2022-23, a $2. 7 billion increase from the pre-pandemic level. Tourism as a share of the national economy also increased from 1. 5 to 2. 5. The number of jobs filled by tourism increased from 442, 600 to 626, 400, with tourism accounting for 1 in 20 jobs in the Australian workforce. Tourism exports from international visitors increased by $20. 1 billion to $26.

1 billion in 2022-23, while tourism imports from Australian residents’ spending abroad increased by $30 billion to $41. 1 billion. Tourism consumption reached $164. 5 billion in 2022-23, up 72 percent from the previous year and $12. 1 billion higher than the pre-pandemic level. The recovery in total tourism consumption was driven by domestic household consumption, which was 27 percent higher than pre-pandemic levels. Domestic business/government consumption was 7 percent higher, while international visitor consumption was 34 percent lower.

What percent of US GDP is tourism?

In 2021, the travel and tourism gross domestic product (GDP) in the United States increased by 63 percent, while the rest of the GDP increased by 10 percent, resulting in a 2. 2 percent share.