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Travel and tourism’s contribution to the global economy could reach $8.6tn (£6.34tn) in 2022 as the sector begins to recover from the Covid-19 pandemic, according to new research from the World Travel and Tourism Council (WTTC).
The research by the global tourism body revealed that in 2019, the sector generated nearly $9.2tn (£6.78tn) to the global economy. However, the pandemic caused a 49.1% drop in 2020, resulting in a loss of nearly $4.5tn (£3.31tn).
The WTTC said that as the world begins to recover from the pandemic, travel and tourism’s contribution to the global economy and job levels could reach almost pre-pandemic levels this year, if the recovery of the sector “continues to pick up pace”.
WTTC’s research also shows that the sector’s contribution to global employment could reach more than 330 million, just 1% below pre-pandemic levels and up 21.5% on 2020 levels, resulting in 58 million more jobs.
According to the research, if the vaccine and booster rollout “continue at pace” this year, and restrictions to international travel are eased around the world throughout the year, the number of people who can travel ‘“quarantine free” will be increased.
However, WTTC said that governments around the world must continue focussing on the vaccine and booster rollout to reach close to pre-pandemic GDP and employment levels this year, allowing vaccinated travellers to “move freely without the need for additional testing”.
The body also reportedly urges governments to continue to implement digital solutions which enable travellers to prove their status in a “simplified and secure” way, and to increase “global harmonisation” of measures.
Julia Simpson, WTTC president and CEO, said: “Over the past two years, due to severe travel restrictions around the world, the global travel and tourism sector has suffered tremendous losses.
“Our latest research clearly shows that there is light at the end of the tunnel, and 2022 is certainly looking more positive in terms of both jobs and the economy. However, there is much more work to be done if we are to bring back all the jobs lost and achieve a full economic recovery.”
She added: “Governments must shift their risk assessment from entire countries to the individual traveller and allow the fully vaccinated to travel freely.
