KEY FIGURES ABOUT THE TRAVEL & TOURISM INDUSTRY (EUROPE AND GLOBAL)

Europe

• Travel & Tourism direct GDP in Europe reached $US 780 billion in 2014. This is greater than the GDP of Europe’s banking, agriculture, chemicals manufacturing, mining, and automotive manufacturing sectors.
• Travel & Tourism in Europe is nearly 60% the size of Europe’s retail sector.
•  Including its indirect and induced impacts, Travel & Tourism generated $US 2.1 trillion in GDP, or 9.2% of Europe’s GDP in 2014, exceeding that of the automotive manufacturing, chemicals manufacturing, banking, agriculture, and mining sectors.
• With nearly 14 million direct employees in Europe, Travel & Tourism is one of the leading employers in Europe, surpassing the job creation of the financial services, banking, mining, automotive manufacturing, and chemicals manufacturing sectors.
• Including its indirect and induced impacts, Travel & Tourism in Europe sustained 35 million jobs in 2014, exceeding that of the financial services, banking, automotive manufacturing, chemicals manufacturing, and mining sectors.
• At 9.0% of regional employment, Travel & Tourism generates nearly 1 in 11 jobs in Europe.

Globally

Travel and Tourism is the second-fastest growing sector globally, with 3.9 percent per annum over the next ten years. Now the challenge is to get the right kind of talent to build for that growth

At nearly $2.4 trillion in 2014, Travel and Tourism’s direct industry gross domestic product (GDP) represents nearly 3.1% of global GDP and is larger than the chemicals manufacturing and automotive manufacturing sectors.

With 105 million people directly employed in 2014, Travel and Tourism directly employs:

• 7 times more than automotive manufacturing
• 5 times more than the global chemicals industry
• 4 times more than the global banking industry
• 4 times more than the global mining industry
• Almost 2 times more than the global financial services industry.

Travel and Tourism directly sustains more jobs than the automotive and chemicals manufacturing industries combined across every region of the world. In Asia, there are more than eight times as many travel and tourism jobs as auto manufacturing jobs and nearly five times as many chemicals manufacturing jobs.

GDP ($ US Billions)

1. Financial Services: 4 796 (6.2% of Global GDP)
2. Retail without Wholesale: 4 261 (5.5% of Global GDP)
3. Mining: 3 897 (5.1% of Global GDP)
4. Agriculture: 3 111 (4.0% of Global GDP)
5. Education: 2 605 (3.4% of Global GDP)
6. Banking: 2 436 (3.2% of Global GDP)
7. Travel & Tourism: 2 365 (3.1% of Global GDP)
8. Chemicals Manufacturing: 1 590 (2.1% of Global GDP)
9. Automotive Manufacturing: 914 (1.2% of Global GDP)