Tag Archives: WTTC

Speaking at FITUR in Madrid, Julia Simpson President & CEO, WTTC, said, “AI is a strategic tool that can drive sustainable improvements, and create real time pricing models.” The latest WTTC report also highlighted AI will revolutionize the tourism sector creating real time pricing models.

TTC and Biosphere joined hands to promote sustainability in the hotel industry. Julia Simpson, WTTC President & CEO, said, “The collaboration is a fundamental step towards international standardisation in sustainability, creating a clear and homogeneous pathway for the industry.”

The research by WTTC highlights the consistent, steady growth of young people employed directly by the sector over the last decade, with a total of 39.7 million jobs supported by Travel & Tourism around the world in 2019, up 28% since 2010. However, this figure was significantly impacted by COVID-19, where youth employment dropped 27%.

According to WTTC, Travel & Tourism is currently responsible for 8.1% of global greenhouse gas emissions. While many of the sector’s biggest companies have set 2050 emission-reduction targets, just as many have just started to consider how to address climate change in their business. 

WTTC forecasts 11.5% growth in tourism investment in 2023, amounting to $955 billion. By 2033, WTTC forecasts a promising 6.1% average annual growth globally, with the strongest annualised growth rates projected to be in Asia-Pacific and the Caribbean.

According to the global tourism body, WTTC has forecasted that the sector will grow its GDP contribution to ₹ 36.8TN by 2033, approximately 7% of the Indian economy and will employ over 58.2 million people across the country, with one in 10 working in the sector. 

Julia Simpson, President, World Travel and Tourism Council, emphasized on need of smart visas. “Paper visas is thing of past. India is moving quickly in the e-visas space but it can move faster towards smart QR coded visas like Dubai,” she said.

WTTC’s Economic Impact Research 2023 reveals India’s travel & tourism sector is recovering &  touching pre-pandemic levels. Int’l visitor spend in India will reach more than ₹2 trillion with domestic visitor spend forecasted to reach ₹ 12.6 trillion.

World Travel and Tourism Council says that by 2033, tourism sector will grow its GDP contribution to $15.5 trillion, i.e. 11.6% of the global economy, and will employ 430mn people around the world, with almost 12% of working population in the sector.

WTTC’s 2023 Economic Impact Research reveals the Travel & Tourism sector is close to its 2019 peak, recovering over 95%. It’s expected to reach $9.5TN in 2023, just 5% below pre-pandemic levels. 34 countries surpassed 2019 levels. The sector is also predicted to recover 95% of its 2019 job level.