THE global travel and tourism sector is headed for another record-breaking year, projected to contribute an historic high of US$2.1 trillion to the worldwide economy, surpassing the record high of $1.9 trillion in prepandemic 2019 by 10.5 percent.
At the launch of its latest Economic Impact Report (EIR) at the 2025 World Travel and Tourism Council (WTTC) Global Summit in Rome on Monday, WTTC Interim Chief Executive Officer Gloria Guevara said: ‘These results tell a story of strength and opportunity. The United States remains the world’s largest travel and tourism market, China is surging back, Europe is powering ahead, and destinations across the Middle East, Asia, and Africa are delivering record growth.’
The EIR also showed that 371 million jobs are estimated to be supported by the travel and tourism sector, almost 4 percent more than the 357 million jobs last year. ‘By 2035, one in eight jobs worldwide will be supported by travel and tourism, with an additional 91 million new jobs supported, the majority in the Asia-Pacific region, resulting in one in three new jobs globally supported by the sector,’ the report added.
Confidence in the sector remains strong with the EIR seeing global investment continue to rise this year after exceeding $1 trillion in 2024. Last year’s investment level was 9 percent more than in 2023.
‘The US, China, Saudi Arabia, and France together accounted for more than half a trillion dollars of that investment [last year],’ the reported noted.
Most powerful market
Despite being the ‘world’s most powerful travel and tourism market,’ the US will attract less tourist spend this year, falling by $12.5 billion, such that total spending will inch up a mere 0.7 percent. The group warned that ‘without destination promotion, traveler-friendly policies, and reduced visa costs, it could lose its competitive edge.’
The US contributed $2.6 trillion to its economy, as expressed in gross domestic product (GDP), in 2024. The report pointed to the US domestic market as the ‘strongest in the world, sustaining millions of jobs and underpinning sector resilience.’
China is the world’s second-largest market and is projected to contribute over $2 trillion to its economy, 22.7 percent from 2024. ‘This highlights China’s rapid return to international prominence and its pivotal role in shaping global travel flows,’ said the WTTC.
Japan, the world’s most popular destination according to global travel surveys, is estimated to add $13.8 billion to its GDP this year, and reach close to $325 billion. As per EIR, the country’s is the world’s fifth largest travel and tourism market.
Fastest-growing region
Meanwhile, the Middle East remains one of the fastest-growing regions in the world for travel and tourism, with Saudi Arabia continuing to stand out as a ‘global powerhouse, with inbound visitor spend surging and infrastructure investment reaching record levels.’
Earlier, the WTTC projected tourism’s contribution to the Philippine economy at 21 percent, adding some $102.6 billion to the GDP this year. This represents an 11.8-percent change from $91.8 billion GDP contribution in 2024, although a slower growth from the 27.6-percent, year-on-year change in 2024/2023. This year’s estimated tourism contribution is 13.5 percent higher than the prepandemic $90.4 billion recorded. (See, ‘Int’l tourism spending in PHL to breach pre-Covid levels,’ in the BusinessMirror, June 16, 2025.)
From September 28 to 30, over a thousand delegates, including 310 chief executive officers and chairs, will explore opportunities and challenges shaping the future of travel and tourism at the global summit.
WTTC officials said, among the key trends this year are ‘a demand for experience-led and sustainable travel, the integration of artificial intelligence [AI], shifts in consumer preferences, the growth of the short-term rental market, and the ongoing importance of business travel.’