In April 2025, the World Travel & Tourism Council (WTTC), in collaboration with Oxford Economics, released the 2024 Economic Impact Trends (EIR) Report, highlighting the Top 10 Global Tourism Economies for 2024-25. According to the report, India climbed to the 8th position with a Travel & Tourism sector contribution of USD 231.6 billion, up from 10th place in 2023.
- United States of America (USA) has secured the first place with USD 2,360 billion, followed by China (USD 1,300 billion) in the second place and Germany (USD 487.6 billion) in the third place.
About the report:
i.WTTC produces the report on the economic and employment impact of Travel & Tourism for 184 countries/ economies and 28 geographic and economic regions in the world.
ii.The EIR report includes absolute and relative contributions of Travel & Tourism to Gross Domestic Product (GDP) and employment, international, and domestic spending.
iii.It also includes the data on leisure and business spending, capital investment, government spending, and outbound spending.
iv.The report tables ranking the economy or region against each other competing destinations and/or benchmarked against the world average across various metrics.
Top 5 Largest Global Travel Economies in 2024-25:
| Rank | Country | Economic Contribution |
|---|---|---|
| 1 | United States of America (USA) | USD 2,360 billion |
| 2 | China | USD 1,300 billion |
| 3 | Germany | USD 487.6 billion |
| 4 | Japan | USD 297.0 billion |
| 5 | United Kingdom (UK) | USD 295.2 billion |
| 8 | India | USD 231.6 billion |
Highlights of the Report:
i.In 2024, the global Travel and Tourism sector contributed USD 10.9 trillion to the world’s GDP. This includes the direct, indirect, and induced impacts of the sector, accounting for 10% of the global economy.
ii.The report stated that the sector remained a major source of employment, supporting 357 million jobs worldwide, which is approximately 1 in every 10 jobs globally.
iii.The report also noted a significant increase in visitor spending in 2024:
- Domestic visitor spending rose to USD 5.3 trillion, marking a 5.4% increase over the 2023 level.
- International visitor spending grew by 11.6% year-on-year, reaching USD 1.9 trillion.
iv.The report highlights a strong growth trajectory for the global travel and tourism sector, with the World Economic Forum (WEF) projecting the industry to reach USD 16 trillion by 2034, contributing over 11% of GDP.
Global Performance:
i.France stood at 6th position with USD 264.7 billion from Travel & Tourism, followed by Mexico (7th) with USD 261.6 billion, Italy (9th) with USD 231.3 billion, and Spain (10th) with USD 227.9 billion.
ii.Asian economies such as the Hong Kong Special Administrative Region (SAR), Malaysia, and the Philippines are fast emerging as regional tourism powerhouses.
iii.Several other countries recorded a significant rise in international tourism spending compared to pre-pandemic levels, including Saudi Arabia (+91.3%), Turkey (+38.2%), Kenya (+33.3%), Colombia (+29.1%), and Egypt (+22.9%).
About the World Travel and Tourism Council (WTTC):
President & Chief Executive Officer (CEO) – Julia Simpson
Headquarters – London, United Kingdom (UK)
Established – 1990
