A recent research made by the World Travel & Tourism Council (WTTC) shows that in the Americas the Travel and Tourism industry is three times larger than the automotive industry and one-third compared to the chemicals, mining and manufacturing.
The Travel and Tourism makes a contribution of US$666 billion to the Americas GDP, three times more compared to the GDP of auto manufacturing and one-third more than the global mining and chemicals industry. In 2011 Travel and Tourism brought US$1.9trillion, or 8.6% of total GDP.
Travel and Tourism has 15 million employees in the Americas, compared to 2.5 million in mining, 2.5 million in manufacturing, 4 million in automotive and 10 million in financial services. Travel and Tourism not only makes the biggest contribution but is also the fastest growing sector, with a rate of 3.6% in the next ten years, compared to mining 1.5%, chemicals 2.5%, education 2% and financial services 3.4%.
David Scowsill, President and CEO, WTTC said: “These numbers are extremely significant. The results are extraordinary. Within our industry we have always known that Travel & Tourism is a vast contributor to economic growth and job creation. These figures bear out just how significant our industry is for the Americas region.”