Published on: Saturday 11 June 2022
The World Travel & Tourism Council recently released new data showing that the US tourism industry is expected to contribute more than $2.6 billion to the country’s GDP over the next decade.
The WTTC’s latest Economic Impact Report shows that the US travel sector is expected to account for 9.2 percent of the total economy, based on a compound annual growth rate of 3.9 percent. It’s almost double the expected 2 percent growth rate for the economy at large.
The data also shows US tourism jobs could grow an average of 3.9 percent between 2022 and 2032. This represents an increase of 47 percent compared to the employment level expected for 2022.
Julia Simpson, WTTC President, said the long-term revival of US tourism looks quite positive and will create over six million new jobs over the next 10 years. However, the backdrop is enormously aggressive and the country is losing international visitors.
The WTTC forecasts that tourism’s contribution to GDP will increase by 42% in 2022 compared to 2021. By the end of 2022, it would reach over $1.8 billion, accounting for 7.6 percent of the US economy.
Although the domestic travel sector is thriving, international visitor spending will not return to pre-pandemic levels by 2025, underscoring the importance of lifting testing restrictions on international travelers.
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Keywords: US tourism, WTTC
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