Tourism Growth Outperforms Global Economy in 2012

The tourism industry has outperformed the global economy in 2012 - growing faster than manufacturing, retail, financial services and communications. The industry has grown its total contribution to GDP by three percent and increased the number of jobs by five million to 260 million.

It means that, for the first time, one in 11 of all jobs in the world is now supported by tourism. More than ten percent of all new jobs created in 2012 were from the industry.

According to research from the World Travel & Tourism Council economic research, in 2012, tourism’s total economic contribution - taking account of its direct, indirect and induced impacts - was $6.6 trillion in GDP.

This is a rise of $500 billion year-on-year. Furthermore, tourism supports $765 billion in investment and $1.2 trillion in exports. This contribution represents nine percent of total GDP, five percent of total investment and five percent of world exports. Among the 20 largest global economies, South Korea, China, South Africa and Indonesia performed best.

Growth of less than one percent in Europe and two percent in the United States was counter-balanced by ten percent growth in South Korea, seven percent in China and South Africa and six percent in Indonesia.

WTTC is predicting the tourism industry will expand its total contribution to GDP by 3.2 percent in 2013, faster than the 2.4 percent predicted for global economic growth.