Travel & Tourism to clock $15.5 trillion revenue by 2033
Image Credit: WTTC
The World Travel & Tourism Council (WTTC) believes that by 2023-end, the travel and tourism sector will hit $9.5 trillion, only 5% below pre-pandemic levels. The association's research conducted in partnership with Oxford Economics, projects a rebound to 95% of the 2019 job levels. To note, in spite of challenges like the Russia-Ukraine conflict, the sector experienced a 22% year-on-year growth in 2022, reaching $7.7 trillion and accounting for 7.6% of the global economy.