A report from the World Economic Forum (WEF) predicts that the tourism industry could add $16 trillion to the global GDP by 2034, a total 11% of the world’s economy.
According to the World Bank, in 2024 travel and tourism contributed $10.9 trillion to global GDP, 10.9% of the global economy. The UN said travel and tourism are making a strong recovery following the COVID-19 pandemic drop.
Although the industry is experiencing significant growth, it’s not without challenges. The WEF report cited tension between locals and tourists, environmental concerns and workforce deficits as obstacles to the sector’s growth. The WEF highlighted ten transportive principles to combat the industry’s challenges.
