In 2023, the United States was the country worldwide with the highest total contribution of travel and tourism to GDP. That year, the total GDP contribution of travel and tourism in the U.S. amounted to **** trillion U.S. dollars, exceeding pre-pandemic levels. China and Germany followed in the ranking in 2023, with travel and tourism's total contributions to GDP of around *** trillion and *** billion U.S. dollars, respectively. Overall, the total contribution of travel and tourism to GDP worldwide reached almost ** trillion U.S. dollars in 2023. What are the most visited countries worldwide? While the U.S. and China reported the highest figures in terms of travel and tourism contribution to GDP in 2023, it was a European destination that led the ranking of countries with the highest number of inbound tourist arrivals worldwide. With *** million international arrivals in 2023, France was the most visited travel destination in the world that year, ahead of Spain, the United States, and Italy. How many people work in the global travel and tourism sector? After declining sharply due to the impact of COVID-19, the number of travel and tourism jobs worldwide bounced back in 2023, reaching around *** million, nearly catching up with pre-pandemic levels. That year, China and India were the countries with the highest travel and tourism employment worldwide.

The average for 2020 based on 125 countries was 3.33 percent. The highest value was in Aruba: 43.39 percent and the lowest value was in Guinea: 0.01 percent. The indicator is available from 1995 to 2020. Below is a chart for all countries where data are available.

In 2019, Macau generated the highest share of GDP through direct travel and tourism of any other economy worldwide, with over half its GDP coming from this sector. Macau is a city and a special administrative region of the People's Republic of China - its economy is largely based on casino gaming and tourism. The nation with the second highest share of GDP generated by direct travel and tourism was the Maldives. The country began to develop its travel and tourism industry in 1970s and now over 30 percent of GDP is coming from this sector in 2019.

What is GDP?

GDP is the total value of all goods and services produced in a country in a year. It is considered an important indicator of the economic strength of a country and a positive change is an indicator of economic growth.

What is direct contribution to GDP? The direct contribution of travel and tourism to GDP reflects the ‘internal’ spending on travel and tourism (total spending within a particular country on travel and tourism by residents and non-residents for business and leisure purposes) as well as government 'individual' spending - spending by government on travel and tourism services directly linked to visitors, such as cultural (e.g. museums) or recreational (e.g. national parks).

In 2023, the share of travel and tourism's total contribution to GDP in European Union member countries and the United Kingdom remained in most cases below the figures reported before the COVID-19 pandemic, but showed strong signs of recovery. Overall, Croatia was the EU country where travel and tourism contributed the highest share of gross domestic product in 2023. That year, these industries generated, directly and indirectly, nearly ** percent of the country's GDP. Portugal and Greece followed in the ranking in 2023, with travel and tourism representing **** percent and **** percent of GDP, respectively.

The average for 2020 based on 32 countries was 2.47 percent. The highest value was in Croatia: 9.72 percent and the lowest value was in Russia: 0.33 percent. The indicator is available from 1995 to 2020. Below is a chart for all countries where data are available.

Contributing a staggering *** trillion U.S. dollars to China’s GDP in 2023, the travel and tourism industry proved to be a vital industry for the East Asian country’s economy. This pivotal industry provided huge GDP contributions to a number of countries across the Asia-Pacific region. Japan and India both saw impressive figures, while Southeast Asia alone has experienced constant GDP increases from the travel and tourism industry. Why Asia-Pacific The travel and tourism industry has made significant monetary additions to many developing economies throughout the Asia-Pacific region. Southeast Asia stands in the foreground as one of the regions which relies heavily on its tourism success. A success which could be inferred through the rising number of tourist arrivals to the ASEAN states. A likely reason why APAC has become one of the leading regions for tourism, could be related to its competitive prices. Many countries in the Asia-Pacific region are cheaper than the usual Western tourist hotspots, in this way, the region has begun to appeal to an increasing number of international travelers. Domestic tourism The Asia-Pacific region has not only attracted international tourists throughout recent years but has also received a great influx of domestic tourists. Growing economies in the region, resulting in an emerging middle class, have made the possibility of increased domestic travel a reality. Intra-regional tourism accounted for approximately half of APAC’s tourism.

The average for 2020 based on 23 countries was 2.13 percent. The highest value was in the Seychelles: 16.49 percent and the lowest value was in Guinea: 0.01 percent. The indicator is available from 1995 to 2020. Below is a chart for all countries where data are available.

In 2024, the total contribution of travel and tourism to the global gross domestic product (GDP) amounted to **** trillion U.S. dollars. This figure, which includes the direct, indirect, and induced impact of the global travel and tourism market, represented an increase in total contribution to GDP of *** percent over 2019. As forecast, the total contribution of the travel and tourism sector to the global GDP was expected to reach **** trillion U.S. dollars in 2025. Which countries record the highest travel and tourism contribution to GDP? GDP is the total value of all goods and services produced in a country in a year. It is considered an important indicator of a country's economic strength, and a positive change in GDP is a sign of economic growth. Both before and after the impact of COVID-19, the United States and China were by far the leading travel markets based on the total contribution of travel and tourism to GDP, followed by Germany, Japan, and the United Kingdom. What are the most visited countries in the world? In 2023, France was the country with the highest number of international tourist arrivals worldwide, welcoming 100 million international visitors. While the United States reported the third-highest number of inbound tourist arrivals that year, it was the destination with the highest international tourism receipts worldwide, ranking ahead of Spain and the United Kingdom.

The United States was the global travel destination with the highest international tourism receipts in 2023. That year, inbound tourism receipts in the U.S. amounted to roughly *** billion U.S. dollars. While this figure denoted a sharp annual increase, it remained below pre-pandemic levels. Meanwhile, Spain and the United Kingdom followed in the ranking in 2023, with around ** billion and ** billion U.S. dollars, respectively. What are the most visited countries in the world? While France ranked fourth based on international tourism receipts, it topped the list of the countries with the highest number of inbound tourist arrivals worldwide, both before and after the impact of the pandemic. In 2023, France recorded *** million arrivals by international travelers, while Spain and the United States followed in the ranking with over ** million and ** million arrivals, respectively. What is the economic impact of travel and tourism worldwide? As estimated, the total contribution of travel and tourism to GDP worldwide amounted to just under ** trillion U.S. dollars in 2023. This figure refers to the direct, indirect, and induced impacts of these industries. That year, the number of travel and tourism jobs worldwide exceeded *** million.

The average for 2020 based on 16 countries was 1.23 percent. The highest value was in Panama: 3.23 percent and the lowest value was in Brazil: 0.21 percent. The indicator is available from 1995 to 2020. Below is a chart for all countries where data are available.

In 2023, Mexico was the Latin American country with the largest total contribution of the travel and tourism sector to the gross domestic product (GDP), with over 260 billion U.S. dollars. Brazil was second on the list that year, as travel and tourism contributed approximately 104 billion U.S. dollars to its GDP.

The average for 2020 based on 6 countries was 4.56 percent. The highest value was in Tonga: 9.6 percent and the lowest value was in the Solomon Islands: 0.46 percent. The indicator is available from 1995 to 2020. Below is a chart for all countries where data are available.

Global Tourism Direct GDP by Country, 2023 Discover more data with ReportLinker!

The United States' travel and tourism industry directly contributed the largest amount to gross domestic profit (GDP) out of any country worldwide with a total contribution of 580.7 billion U.S. dollars in 2019. Comparatively, the ever-growing travel and tourism industry in China directly contributed the second largest sum to GDP. Meanwhile, Europe was home to half of the top 10 countries with the highest direct contribution to GDP globally (through travel and tourism).

What is GDP?

GDP is the total value of all goods and services produced in a country in a year. It is considered an important indicator of the economic strength of a country and a positive change is an indicator of economic growth.

The average for 2020 based on 14 countries was 7.75 percent. The highest value was in Aruba: 43.39 percent and the lowest value was in Guatemala: 0.38 percent. The indicator is available from 1995 to 2020. Below is a chart for all countries where data are available.

In 2024, Panama was estimated to be the most tourism-dependent economy in Latin America, with the sector accounting for 15.3 percent of its gross domestic product (GDP). El Salvador followed in the ranking that year, with a share of tourism contribution to GDP above 15 percent too.

The average for 2020 based on 13 countries was 3.11 percent. The highest value was in Qatar: 9.91 percent and the lowest value was in Algeria: 0.03 percent. The indicator is available from 1995 to 2020. Below is a chart for all countries where data are available.

US: International Tourism: Receipts: for Passenger Transport Items data was reported at 38.770 USD bn in 2016. This records a decrease from the previous number of 41.976 USD bn for 2015. US: International Tourism: Receipts: for Passenger Transport Items data is updated yearly, averaging 21.255 USD bn from Dec 1995 (Median) to 2016, with 22 observations. The data reached an all-time high of 44.071 USD bn in 2014 and a record low of 15.091 USD bn in 2003. US: International Tourism: Receipts: for Passenger Transport Items data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s United States – Table US.World Bank.WDI: Tourism Statistics. International tourism receipts for passenger transport items are expenditures by international inbound visitors for all services provided in the international transportation by resident carriers. Also included are passenger services performed within an economy by nonresident carriers. Excluded are passenger services provided to nonresidents by resident carriers within the resident economies; these are included in travel items. In addition to the services covered by passenger fares--including fares that are a part of package tours but excluding cruise fares, which are included in travel--passenger services include such items as charges for excess baggage, vehicles, or other personal accompanying effects and expenditures for food, drink, or other items for which passengers make expenditures while on board carriers. Data are in current U.S. dollars.; ; World Tourism Organization, Yearbook of Tourism Statistics, Compendium of Tourism Statistics and data files.; Gap-filled total;

According to Cognitive Market Research, the global Travel and Tourism Spending market size is USD 14845295.6 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 5938118.24 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 4453588.68 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 3414417.99 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 742264.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 296905.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031.
The Couple Traveler held the highest Travel and Tourism Spending market revenue share in 2024.

Market Dynamics of Travel and Tourism Spending Market

Key Drivers of Travel and Tourism Spending Market

Growing Disposable Income and Middle-Class Expansion to Increase the Demand Globally

The Travel and Tourism Spending Market is being significantly driven by the rise in disposable income and the expanding middle class in emerging economies. As more people enter the middle-income bracket, there is a noticeable shift in spending patterns towards leisure activities, including travel and tourism. This trend is particularly evident in countries like China, India, Brazil, and several Southeast Asian nations, where rapid economic growth has lifted millions out of poverty and into the middle class. The increasing affordability of travel, coupled with aspirations for new experiences and exposure to different cultures, is fueling the demand for tourism services and experiences.Another key driver for the Travel and Tourism Spending Market is the rapid advancement of technology and digitalization. The travel industry has undergone a profound transformation with the advent of the internet, smartphones, and various digital platforms. These technologies have made travel planning more accessible, convenient, and personalized, influencing consumer behavior and preferences. Online booking platforms, travel apps, and social media have revolutionized how people research, book, and share their travel experiences. Additionally, technologies such as virtual reality (VR) and augmented reality (AR) are enhancing the travel experience by offering immersive previews of destinations and attractions, further driving the demand for travel and tourism services.

Restraint Factors Of Travel and Tourism Spending Market

Economic Uncertainty and Exchange Rate Volatility to Limit the Sales

One of the key restraints affecting the Travel and Tourism Spending Market is economic uncertainty and exchange rate volatility. Fluctuations in exchange rates can affect the cost of travel, particularly for international tourists. A strong currency in the destination country can make travel more expensive for foreign visitors, leading to a decline in tourism spending. Similarly, economic downturns or recessions can result in reduced disposable income and consumer confidence, leading individuals to cut back on discretionary spending, including travel and tourism. Economic instability in key source markets can also impact outbound travel, affecting the overall tourism industry.

Trend Factor for the Travel and Tourism Spending Market

There is a shift in demand toward experiential, sustainable, and digital-first travel. 

Fueled by an increasing demand for tailored and meaningful travel experiences, the market for travel and tourism expenditures is going through a rapid shift. Instead of typical sightseeing itineraries, contemporary tourists are more and more opting for immersive experiences like culinary tourism, adventure travel, cultural discovery, and well-being retreats. With more customers choosing eco-friendly lodging, carbon-neutral travel options, and ethical tourism practices, sustainability has also become a major consideration in decision-making. Digital payment methods, mobil...

Antigua and Barbuda was the Caribbean economy that relied the most on travel and tourism in 2022, with this sector accounting for more than 90 percent of its gross domestic product (GDP). Aruba followed that year as the Caribbean island with the second-largest share of GDP from tourism.