International Travel Spending Set to Hit Record $2.1 Trillion in 2025, Says WTTC

Caribbean News…
11 April 2025 9:17pm
Business
travel spending

Global travel and tourism are on track for a historic year, with international visitor spending projected to reach an all-time high of $2.1 trillion, according to the World Travel & Tourism Council (WTTC).

The latest Economic Impact Research (EIR) from WTTC reveals that the sector’s total contribution to the global economy will hit $11.7 trillion in 2025, accounting for 10.3% of global GDP.

“People continue to prioritize travel. This is a vote of confidence in our industry and an indicator of its strength,” said Julia Simpson, President & CEO of WTTC.

However, she noted that recovery remains uneven. While some regions are booming, others — including major markets like the US, China, and Germany — are lagging behind pre-pandemic levels.

Key Findings from WTTC’s EIR 2025:

  • International travel spending is forecast to grow by $164 billion from its 2019 peak of $1.9 trillion, hitting $2.1 trillion.

  • The sector’s GDP contribution will reach a record $11.7 trillion.

  • Travel and tourism employment is expected to increase by 14 million, reaching 371 million jobs globally — more than the entire US population.

Global Growth Highlights and Contrasts

While the global outlook is strong, the WTTC highlights a divergent recovery:

  • United States: The world's largest travel and tourism market is still seeing international spending below 2019 levels, and full recovery isn't expected in 2025.

  • China: Despite surpassing pre-pandemic spending in 2024, growth is forecast to slow significantly this year.

  • Saudi Arabia: Emerging as a tourism powerhouse, the Kingdom is injecting $800 billion into the sector by 2030, setting new global standards.

  • France and Spain: Continue to dominate in Europe, driven by strong international demand and strategic investment.

A Look Back at 2024

  • Global tourism contributed $10.9 trillion to the world economy (10% of global GDP), up 8.5% year-on-year.

  • The sector supported 357 million jobs — 6.2% growth from 2023.

  • International visitor spending rose nearly 12% to $1.87 trillion, while domestic spending increased 5.4% to $5.3 trillion.

Looking Ahead to 2035

The WTTC forecasts that by 2035:

  • Travel and tourism will generate $16.5 trillion, or 11.5% of global GDP.

  • Sector employment will reach over 460 million jobs, or 1 in 8 globally.

  • International travel spending is expected to reach $2.9 trillion, growing at a compound annual rate (CAGR) of 3.4%.

  • Domestic spending will also grow at 3.3%, reaching $7.7 trillion.

Produced in partnership with Oxford Economics, WTTC’s annual report analyzes the economic impact of the sector across 185 economies. It is complemented by the organization’s Environmental Social Research, which revealed that travel and tourism accounted for 6.5% of global emissions in 2023, highlighting the urgent need for sustainable innovation as the industry continues its expansion.

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