UNWTO scenarios

european tourism

How Important Is International Tourism To The Global Economy?

James Reilly (Schroeders) | Tourism contributed 10.4% to global GDP in 2018; however, with many countries worldwide currently operating travel restrictions, the sector is now facing serious challenges. Scenarios produced by the United Nations World Tourism Organisation (UNWTO) point to a fall in international tourist journeys of between 58% and 78% for 2020. Such an outcome could potentially see 100-120 M direct tourism jobs at risk in what is one of the most labour-intensive sectors of the global economy.