< /p>International tourism will be able to overcome the effects of the pandemic and recover by 2023. But the key question is when China will open. At the same time, the global travel and tourism sector will grow at a pace “that will outpace the growth of world gross domestic product (GDP)”. Such optimistic statements were voiced by the World Travel and Tourism Council (WTTC).
“The average annual growth rate of the industry in the period from 2022 to 2032 will be 5.8% compared to global GDP growth of 2.7% , and 126 million new jobs will be created,” the WTTC report said. Experts recalled that in 2019, tourism accounted for a tenth of global GDP and jobs. The coronavirus pandemic has brought a $9.6 trillion industry to a near standstill, halving its value and leaving 62 million people out of work.
“The recovery will be just as fast and really powerful. This, of course, depends on the opening of China,” said WTTC President Julia Simpson, calling on all governments to reopen borders. However, China still adheres to the principle of “zero cases of covid” and is in no hurry to open.
In the meantime, the GDP of the travel and tourism industry is expected to reach $8.35 trillion this year and $9.6 trillion in 2023 , returning to its pre-pandemic levels, the researchers assure. Tourism jobs will rebound to 300 million this year and 324 million in 2023, close to 333 million in 2019, WTTC also reports. And in the slowest-recovering Asia-Pacific region alone, hospitality industry GDP is likely to reach $3.4 trillion in 2023, which is already over $3.3 trillion in 2019.
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