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The United States remains the world’s largest and strongest travel and tourism market, according to new data from the World Travel and Tourism Council (WTTC).
According to the WTC Economic Trends Report, the U.S. travel and tourism industry contributed $1.3 trillion to the nation’s economy last year, down from a total of $700 billion in 2019.
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WTTC officials said the decline was due in part to lengthy and damaging travel restrictions designed to curb the spread of COVID-19 and the resulting economic damage. With international travel depressed, the US has maintained its dominance by relying on domestic tourism.
“Our report shows the resilience of the travel and tourism sector, even though travel restrictions around the world have not been able to stop the spread of the virus,” said Julia Simpson, chief executive of WTTC.
“Despite a challenging macro environment, travel and tourism has bounced back,” Simpson continued. “The world, with some exceptions, is traveling again. And we’re seeing a resurgence in business travel. Travel and tourism growth will outpace the global economy in the next 10 years.
According to the report, China and Germany are the 3 most powerful tourism markets.
When it comes to top destinations worldwide, France has overtaken Spain, China and the US to take the top spot in travel spending. Overall, WTC predicts that China will overtake the US to become the world’s largest travel and tourism market by 2032.
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