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).

The economic impact of tourism in New York state saw significant growth in 2023, reaching 137 billion U.S. dollars. When looking at a breakdown of tourism’s economic impact in New York, direct sales accounted for the highest share of economic impact, followed by induced sales. Is New York the most visited state in the U.S.? In 2023, the most visited state in the U.S., by international tourists, was New York. This was followed closely by Florida, and in third place, California. In 2023, visitation to New York City saw significant growth, reaching 62.2 million visitors. What do visitors spend the most on in New York? In 2023, the tourism segment with the highest visitor spending in New York was lodging. Visitors to New York also spent a significant amount on food and beverages, followed by retail and services. Comparatively, the industry which held the lowest share of visitor spending was recreation.

Tourism Revenues in Turkey increased to 23220 USD Million in the third quarter of 2024 from 14880 USD Million in the second quarter of 2024. This dataset provides - Turkey Tourism Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Contributing a staggering 1.3 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.

Data estimating the direct, indirect and induced impacts of tourism receipts and visitor spending on gross domestic product, labour income and employment in Ontario.

Tourism Revenues in Italy increased to 2941.85 EUR Million in January from 2845.81 EUR Million in December of 2024. This dataset provides - Italy Tourism Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the share of travel and tourism's total contribution to global gross domestic product (GDP) showed a decline of 1.3 percentage points compared to 2019, the year before the COVID-19 pandemic. Overall, these industries represented 9.1 percent of the global GDP in 2023. That year, the total contribution of travel and tourism to the global GDP amounted to nearly 10 trillion U.S. dollars. The impact of COVID-19 on global travel and tourism The lockdowns and travel restrictions enforced across the globe to limit the spread of COVID-19 turned travel and tourism upside down. In 2023, the number of travel and tourism jobs worldwide experienced a sharp annual increase, but was still slightly below pre-pandemic levels. Meanwhile, total travel and tourism spending worldwide followed a similar trend. International tourist arrivals still lagged pre-pandemic levels After sinking in 2020 to the lowest point recorded since 1989, the number of international tourist arrivals worldwide bounced back in 2022, then rose further in 2023. That said, it remained below the peak of nearly 1.5 billion reported in 2019. Both before and after the impact of the health crisis, Europe was the global region with the highest number of international tourist arrivals.

Beijing: Tourism Revenue: Tourist Attraction data was reported at 1,140.765 RMB mn in Dec 2024. This records an increase from the previous number of 1,046.956 RMB mn for Nov 2024. Beijing: Tourism Revenue: Tourist Attraction data is updated monthly, averaging 553.476 RMB mn from Jan 2008 (Median) to Dec 2024, with 192 observations. The data reached an all-time high of 1,609.859 RMB mn in Jul 2023 and a record low of 46.593 RMB mn in Feb 2020. Beijing: Tourism Revenue: Tourist Attraction data remains active status in CEIC and is reported by Beijing Municipal Commission of Tourism Development. The data is categorized under China Premium Database’s Tourism Sector – Table CN.QRA: Tourism: Beijing.

Key information about India Tourism Revenue Growth

• India Tourism Revenue grew 30.0 % YoY in Dec 2024, compared with an increase of 29.6 % YoY in the previous month
• India Tourism Revenue Growth rate data is updated monthly, available from Jan 2002 to Dec 2024
• The data reached an all-time high of 10,277.8 % in Apr 2021 and a record low of -99.6 % in Apr 2020

An in-depth study of the mechanisms governing the generation, evolution, and regulation of differences in tourism economics holds significant value for the rational utilization of tourism resources and the promotion of synergistic tourism economic development. This study utilizes mathematical statistical analysis and GIS spatial analysis to construct a single indicator measure and a comprehensive indicator measure to analyze tourism-related data in the research area from 2004 to 2019. The main factors influencing the spatial and temporal differences in the tourism economy are analyzed using two methods, namely, multiple linear regression and geodetector. The temporal evolution, overall differences and differences within each city group fluctuate downwards, while the differences between groups fluctuate upwards. Domestic tourism economic differences contribute to over 90% of the overall tourism economic differences. Spatial divergence, the proportion of the tourism economy accounted for by spatial differences is obvious, the comprehensive level of the tourism economy can be divided into five levels. The dominant factors in the formation of the pattern of spatial and temporal differences in the tourism economy are the conditions of tourism resources based on class-A tourist attractions and the level of tourism industry and services based on star hotels and travel agencies. This study addresses the regional imbalance of tourism economic development in city clusters and with the intent of promoting balanced and high-quality development of regional tourism economies.

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.

Technological Advancements and Digitalization to Propel Market Growth

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.

Impact of Covid-19 on the Travel and Tourism Spending Market

The Covid-19 pandemic has had a profound impact on the Travel and Tourism Spending Market, causing unprecedented disruptions worldwide. Travel restrictions, border closures, and lockdown measures implemented to curb the spread of the virus have led to a significant decline in tourism activity. The closure of hotels, restaurants, and attractions has resulted in massive revenue losses for the tourism industry. Travelers have canceled or postponed trips, leading to a sharp decline in tourist arrivals and spending. The aviation industry has been particularly hard hit, with airlines facing...

Tourism Revenues in Mexico increased to 3423258.03 USD Thousand in December from 2522143.19 USD Thousand in November of 2024. This dataset provides - Mexico Tourism Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Israel Tourism Revenue

• Israel's Tourism Revenue reached 4 USD bn in Dec 2023, compared with 6 USD bn in the previous year
• Israel's Tourism Revenue data is updated yearly, available from Dec 1992 to Dec 2023
• The data reached an all-time high of 7,539 USD mn in Dec 2019 and a record low of 1,911 USD mn in Dec 1992

Key information about Spain Tourism Revenue

• Spain's Tourism Revenue reached 6 USD bn in Nov 2024, compared with 10 USD bn in the previous month
• Spain's Tourism Revenue data is updated monthly, available from Jan 1993 to Nov 2024
• The data reached an all-time high of 13,523 USD mn in Aug 2024 and a record low of 0 USD mn in May 2020

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.

Tourism Revenues in Japan decreased to 12858135 JPY Thousand in January from 15084333 JPY Thousand in December of 2024. This dataset provides - Japan Tourism Revenues- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The European System of Accounts does not include the production of the tourism sector as such. The need to typify the tourist industry and evaluate its contribution to overall economic activity justifies the statistical operation known as the Tourism satellite account. In it, tourism is analysed as an economic phenomenon from the viewpoint of both Supply and Demand, the main macro-figures of the sector are produced for the Basque Country, and the evolution of its weight in relation to Gross Domestic Product at market prices is calculated.

Comprehensive evaluation index system of tourism economic development difference.

This website provides statistics on the economic value of visitors to the state of Virginia. The analysis is commissioned by the Virginia Tourism Corporation, and is conducted by Tourism Economics, LLC. The analysis is based on multiple data sources, including the US census, STR, Longwoods International, lodging and sales tax receipts, and employment and wage data from the Bureau of Economic Analysis and Bureau of Labor Statistics. By combining these datasets, a comprehensive view of visitor activity is developed that is consistent with official economic and industry data for the state. The analysis measures visitor spending by category, tourism employment, personal income, and taxes generated by visitor activity. The data are available for several years of history and can be viewed and downloaded at the state level.

Virginia Tourism collaborated with Tourism Economics for a 2022 study on the economic impact of Sports Tourism in Virginia. It’s the first of its kind study for VTC and the report provides data dating back to 2019. The report focuses on the impact of sports tourism in four regions across the Commonwealth: Central & Southern Virginia, Coastal Virginia, Northern Virginia, and Western Virginia.