Stats: Travel Industry Second-Fastest Growing Sector in the World

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Source: Travel Agent Central
By Adam Leposa
February 27, 2018

The worldwide travel and tourism sector is still going strong, outpacing the growth of global GDP in 2018 for the eighth year in a row, according to new research from the World Travel and Tourism Council (WTTC). According to the WTTC, last year travel and tourism grew 3.9 percent, above global GDP growth of 3.2 percent and contributing a record $8.8 trillion and 319 million jobs to the world economy.

The report also found that the travel and tourism industry generated 10.4 percent of all global economic activity last year. Over the last five years, it has been responsible for one in five of all new jobs created worldwide. It is also the second-fastest growing sector in the world, ahead of healthcare (+3.1%), information technology (+1.7%) and financial services (+1.7%), and behind only manufacturing, which was up by 4 percent.

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