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WTTC RESEARCH: GLOBAL TOURISM SUPPORTS TWICE AS MANY JOBS AS FINANCIAL SECTOR

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WTTC RESEARCH: GLOBAL TOURISM SUPPORTS TWICE AS MANY JOBS AS FINANCIAL SECTOR
According to the latest World Travel and Tourism Council (WTTC) Benchmarking Report for 2017 released in the week, the global travel and tourism sector directly sustains twice as many jobs as the financial sector. Also, the financial services sector may have generated 19.4% of global GDP (compared to 10.2% by travel and tourism), but it still fell behind tourism as an employment source. More key findings from the WTTC Benchmarking report 2017 are:

  • Globally, travel and tourism generated USD$7.6 trillion in GDP in 2016; more than banking (USD$4.8tn), mining (USD$5.0tn), agriculture (USD$5.8tn), automotive manufacturing (USD$6.1tn) and chemicals manufacturing (USD$6.5tn)
  • In Africa, travel and tourism generated USD$166 billion in GDP and 20.7 million jobs in 2016, making the sector larger than chemicals manufacturing, automotive manufacturing and banking in terms of GDP contribution and jobs

WTTC President and CEO urges for more private and public sector investment in tourism
‘’Travel and tourism contributes 10.2% of global GDP and supports 1 in 10 jobs. Also, business and leisure travel creates opportunities, empowers communities and enhances livelihoods. WTTC continues to urge public and private sector to invest into our sector and implement policies that are favourable for growth and safeguarding the world’s assets.’’ Click here to read the full WTTC press release on the report

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