This analysis focuses on raw and physical materials, excluding derivative markets and alloy materials like steel. Countries with the highest GDP from travel and tourism 2019 - Statista Given SEAMs clear potential to create more sustainable destinations, a case can be made for T&T sector involvement this area.62. One poll of former US hospitality workers showed that more than half wont return to their old jobs and over a third are not planning on returning to the industry as they seek higher pay, better working conditions and benefits, and more flexibility.52, Figure 8: Correlation between socioeconomic resilience and conditions and tourism labour productivity. OECD Ocean Ocean economy and developing countries More than three billion people rely on the ocean for their livelihoods, the vast majority in developing countries. Getting financed: 9 tips for community joint ventures in tourism, Global investment promotion best practices: Winning tourism investment Investment Climate, COVID-19 and Tourism in South Asia: Opportunities for Sustainable Regional Outcomes, Demand Analysis for Tourism in African Local Communities, Tourism in Africa: Harnessing Tourism for Growth and Improved Livelihoods, Expecting the Unexpected : Tools and Policy Considerations to Support the Recovery and Resilience of the Tourism Sector, Rebuilding Tourism Competitiveness. Perito Moreno Glacier, Argentina. Antigua and Barbuda was the Caribbean economy that relied the most on travel and tourism in 2021, with this sector accounting for more than 60 percent of its gross domestic product (GDP). For instance, comparing the Natural Resources and Environmental Sustainability pillar scores helps to pinpoint where some of the greatest risks to nature-based tourism might lie. Lastly, consumers and business travellers are likely to remain more sensitive to the health and hygiene conditions at destinations for some time. TTDI results indicate that Western, Southern and Northern Europe are usually the most internationally open subregions due to the close integration that the European Union, the Schengen Area and similar blocs and agreements provide. The World Tourism Organization (UNWTO), which is the United Nations agency responsible for the promotion of sustainable tourism, and the Global Sustainable Tourism Council (GSTC), the. Germany ($130.8 billion) 4. Of course, COVID-19 will have a lasting impact on employment and global economic activity with inconceivable outcomes. Some of these include the promotion of attractions and events that disperse visitors so they are not concentrated only in certain areas, time-based dynamic pricing, the creation of pedestrian-only zones, defining the carrying capacity of city areas, focusing on lower-impact visitor segments, ensuring local communities benefit from tourism, engaging with local stakeholders and monitoring the impact of tourism, including through the use of big data.61, T&T stakeholders can also play a more active role in broader sustainable mobility efforts and trends that can help to reduce the sectors environmental impact, manage demand and make destinations more attractive for visitors and residents. High-income economies and countries in the Europe and Eurasia (Europe) and Asia-Pacific (APAC) regions tend to lead the overall index in results. It creates jobs, generates investment, and injects foreign cash into the economy. Tourist-centric countries remain the hardest hit from global travel bans, but the worlds biggest economies are also feeling the impact. However, failing in these areas could also transform this key aspect of T&T operations into an increasingly acute barrier to future T&T growth. The number of recognized UNESCO Heritage natural sites, including national parks, has expanded. The 2021 TTDI results indicate the extent of environmental sustainability threats and challenges. Croatia, another tourist hotspot, is hoping to reopen in time for peak seasonthe country generated tourism revenues of $13B in 2019. High-income economies do tend to score far higher on the Socioeconomic Resilience and Conditions pillar, putting them in a better position to deal with future challenges and maximize their workforce potential. In particular, it is important that the historical trend of ever greater international openness in T&T continues. Several key findings have been identified in the Travel & Tourism Development Index (TTDI) 2021 results and research. For example, operators in the meetings, incentives, conferences and events (MICE) area may have to rely more on smaller and hybrid events.32 T&T businesses and destinations are increasingly looking to capture opportunities offered by the changing nature of work. Combined with the fact that natural resources are not its greatest strength or dependency, the region and its tourism sector may be the better positioned to deal with future ecological risks. Abstract: Nature-based tourism (NBT) plays an important role in sustainable development. It is also important to note that T&T is vital not only to overall economic performance but also to the livelihood of some of the populations and businesses most vulnerable to, and hardest hit by, the pandemic. Global tourism industry - statistics & facts | Statista Figure 9 provides a regional view of the challenge. As a result, the global physical oil market is astronomical in size and has a significant economic and geopolitical influence, with a few countries dominating global oil production. COVID-19 caused many T&T businesses to close. As such, average scores fell in the Air Transport Infrastructure (-9.4%), Prioritization of Travel and Tourism (-6.7%) and Tourist Service Infrastructure (-1.5%) pillars. The key findings of the index show the following: 1. More specifically, SEAM may reduce carbon emissions by 95%, improve mobility efficiency by 70% and decrease commuting costs by 40%. For instance, the Macao Government Tourism Office has worked with a major Chinese multinational technology company to optimize visitors travel experiences before, during and after trips; obtain insights into travellers behaviour through in-depth analysis of big data; and monitor, divert and disperse visitor flows at tourist districts and congested areas. Unsurprisingly, this region has often claimed headlines for tourism overcrowding. Overall, the contribution of travel and tourism to the global GDP amounted to 5.81 trillion U.S. dollars in 2021, denoting an increase of around one trillion U.S. dollars from 2020 but not . Combustion Engine Vehicles, Visualizing the Worlds Largest Lithium Producers, Mapped: Renewable Energy and Battery Installations in the U.S. in 2023, Ranked: The Cities with the Best Work-Life Balance in the World, Mapped: The Growth in House Prices by Country, Ranked: The Cities with the Most Skyscrapers in 2023, Ranked: The Worlds Biggest Steel Producers, by Country, Charted: 30 Years of Central Bank Gold Demand, Visualizing U.S. On average, out of the economies covered by the TTDI, T&T contributed 70% more towards the exports of middle-income economies than to the exports of high-income economies in 2019.10 Consequently, restoring T&T sector growth will be particularly vital for developing economies recovery. Tourism Dependence: Some CCB economies are among the most tourism-dependent in the world. High-income European countries tend to be some of the top TTDI performers and include rich cultural and non-leisure assets and quality transport and tourism infrastructure that allow for the absorption of large quantities of visitors. The 2021 TTDI results show that, across the board, socioeconomic resilience has tended to improve due to the expansion of social protection coverage and spending in line with global efforts to mitigate the impact of COVID-19. Visualizing the Countries Most Reliant on Tourism Malta - 15% "In 2020, 10.9 million Americans said they were digital nomads, a 49% increase from 2019. However, they also have the most to gain from overcoming these obstacles. However, it is important to note that these new market opportunities are primarily for the high-end travel market and are not likely to replace the overall loss in business travel. The importance of China's tourism for the economic growth of the country is witnessed by the internal and international debate and the empirical analyses that are being performed on the role and the activity of all the operators that revolve around the production of tourist services and on the domestic, inbound and outbound demand of them. Creating a better T&T economy is not just about improving infrastructure or offering favourable pricing. Travel and tourism contributed around 5.8 billion U.S. dollars to global GDP in 2021. Meanwhile, the contribution of travel and tourism to Chinas economy has more than doubled over the last decade, approaching $1.6 trillion. The collapse of demand has severely impacted the livelihoods of tourism-dependent communities, small businesses and women-run enterprises. If proper efforts are made, from employee training and supporting SMEs use of ICT to fair and effective regulation of digital platforms and their impact on workers and destination communities, digitalization in T&T will become one of the driving forces in growing the sectors role in inclusive, sustainable and resilient development. The impact of the COVID-19 pandemic has been devastating for tourism service providers, with a loss of 20 percent of all tourism jobs (62 million), and US$1.3 trillion in export revenue, leading to a reduction of 50 percent of itscontribution to GDPin 2020 alone. Meanwhile, access to clean water and sanitation facilities helps prevent diseases or their spread. Moreover, within this context, travellers increasingly value environmentally sustainable options.54 df. On the other hand, research has also shown that a sustainable and open tourism sector can be resilient to violence and conflict and that it may help foster positive peace, namely the attitudes, institutions and structures that create and sustain peaceful societies. In the coming years, the success of T&T businesses and destinations will be increasingly tied to their ability to manage and operate under ever greater ecological and environmental threats. 1. x Published: April 12, 2023 https://doi.org/10.1371/journal.pone.0282912 Article Authors Metrics Media Coverage Abstract Protected areas (PAs) can help address biodiversity loss by promoting conservation while fostering economic development through sustainable tourism. Tools and Resources for Nature-Based Tourism - Second Edition Tourism and Competitiveness - World Bank Group 29 The World Travel and Tourism Council (WTTC) data shows that, on average for the 117 economies covered by the index, domestic spending's share of T&T . Travel and Tourism total GDP contribution, % (20182020 mean), Source: World Economic Forum and World Travel & Tourism Council. In the past, the UNWTO has conducted studies on the implementation of the TSA:RMF 2008, the latest being available here. On the other hand, less-developed economies and those ranking lower on the TTDI tend to bring in fewer tourists, but still score below average for perception of tourism dispersion and town- and city-centre accessibility and crowding, an issue that may be partially explained by these economies typically below-average scores for transport infrastructure. On the other hand, the ICT Readiness pillar is the most improved (+3.0%) since 2019 largely due to continued improvement in low- and middle-income economies. While further effort is required, public-private cooperation can provide a useful avenue to address this challenge. More T&T services are being accessed by digital systems through online travel agencies (OTAs) and sharing economy platforms, direct online bookings, digital payment systems and mobile devices, and thus consumers tend to expect the greater convenience, increased options, reduced person- to-person contact and seamless experience that these systems provide. Second, the key findings show not only how ongoing challenges such as reduced capacity and labour shortages are tempering the recovery but also how shifting demand has created opportunities, forcing many T&T businesses and destinations to adapt, highlighting the sectors impressive flexibility. Besides being the primary energy source for transportation, oil is a key raw material for numerous other industries like plastics, fertilizers, cosmetics, and medicine. Combined, these two economies account for about 3% of international tourism spending, with Russia having been a major source of visitors to destinations ranging from Azerbaijan, Georgia and Turkey to Israel, the United Arab Emirates and Thailand.25, While not yet fully reflected in the TTDIs Price Competitiveness pillar, rising travel demand, the stated labour, capacity and other shortages, global supply-chain disruptions and rises in fuel prices and inflation caused by factors such as the war in Ukraine will likely increase costs and service prices throughout the entire T&T supply chain and ecosystem. The TTDI results further reinforce the shift in demand dynamics that the world has witnessed. Therefore, T&T development will have to become increasingly sustainability-oriented. To calculate market sizes, we used the latest price multiplied by global production in 2022, based on data from TradingEconomics and the United States Geological Survey (USGS). For example, scores for deforestation continued to worsen. At the World Economic Forum, efforts in this field are plentiful, and cover multistakeholder actions on decarbonizing transportation, accelerating action on plastics, ensuring the long-term, sustainable use of the ocean, and developing the circular economy. Meanwhile, economies in the top-right quadrant, like those below them, have also been more vulnerable to the impact of the pandemic, especially given that analysis shows they are typically more reliant on the export of T&T services. Nonetheless, while there are some economies that have better environmental conditions, the challenge is widespread and is not easing. Source: World Economic Forum calculation based on air service agreements data provided by ICAO, Travel Ban during Pandemic Impacted Travel and Tourism, Source: World Economic Forum and Euromonitor International, Source: World Economic Forum, Executive Opinion Survey 2021, Euromonitor International, World Tourism Organization, World Travel & Tourism Council and Tripadvisor, Source: World Economic Forum, Executive Opinion Survey 2021. Based on the data accrued, Official Esta states that Bangladesh is the country most dependent on tourism with an extraordinary 944 related jobs for every 100 visitors to the country, or. * Source: Data compiled from countries by UNWTO through annual statistical questionnaires. Developing economies typically lag when it comes to ICT infrastructure, internet connectivity and mobile network coverage, which hampers the use of digital platforms in financial services, transport and tourism activities. Italy ($76.3 billion) 9. Combined with related efforts such as the Free Movement Protocol and Single African Air Transport Market (SAATM), the sub-Saharan Africa region has the potential to unlock its untapped T&T potential and grow its underdeveloped intra- regional T&T market and air route capacity.39, Figure 7: Correlation between air service agreement liberalization and air transport infrastructure, 2019, Of course, the pandemic, along with the recent rise in geopolitical tensions, also highlights just how important health and security conditions are to protecting the openness on which T&T relies and to restoring consumer confidence in travel. This also reflects the massive scale of global oil consumption annually, with the resource having a ubiquitous presence in our daily lives. Furthermore, digitalization enables T&T businesses to gather consumer insights and preferences, optimize operations, cut transaction costs and automate processes.63 Online platforms also enable T&T service providers, including SMEs, to reach beyond their local markets and connect with broader domestic and international markets. More specifically, it tracks the implementation of the most relevant Tourism Satellite Account (TSA) and System of Environmental Economic Accounting (SEEA) tables. The above-mentioned introduction of travel bans, flight-route adjustments, increasing fuel and food prices and potentially hindered international travel demand caused by the war in Ukraine have also shown the degree to which international T&T can be affected by geopolitical tension and conflict. ", Over the course of the pandemic, growth in merchandise trade coincided with production, worker, equipment and space shortages to create a global supply-chain crisis. Tourism offers opportunities for economic diversification and market-creation. The COVID-19 travel shock hit tourism-dependent economies hard - Brookings As the world shifts towards a more sustainable future and away from fossil fuels, itll be interesting to see how the markets for oil and other commodities evolve. Figure 4 shows in more detail what gaps remain to achieving improved T&T performance and development for various countries. United States of America has the highest total tourism income with over 210 billion $ yearly. The benefits of tourism for rural community development About the Travel & Tourism Development Index, 1.1 Benchmarking the enablers of Travel and Tourism development, 2. Similarly, the decline in tourist service infrastructure reflects initially reduced capacity in the accommodation and related segments. Globally, the number of active digital labour platforms, which include ride-hailing taxi and delivery services, has grown from fewer than 200 in 2010 to at least 777 at the start of 2021. Charting the Rise and Fall of the Global Luxury Goods Market, How U.S. Consumers are Spending Differently During COVID-19, Visualizing Annual Working Hours in OECD Countries, Ranked: Top 10 Cities Where International Travelers Spend the Most, Visualized: The Worlds Busiest Airports, by Passenger Count, Ranked: Americas Best Places to Work in 2023, Ranked: The Worlds Most and Least Powerful Passports in 2023, Ranked: The Top 25 Islands to Visit in 2022. To help bolster economic activity, China and South Korea have eased restrictions by establishing a travel corridor. Bankruptcies or other disruption issues at any point along this chain have the potential to negatively affect the others. Yet, as demand resumes in line with easing travel restrictions and somewhat improving COVID-19 conditions, the initial reductions in capacity increase the potential for supply-side constraints. It is the third-largest export category (after fuels and chemicals) and in 2019 accounted for 7% of global trade. The Forum also hosts the Global Future Council on Sustainable Tourism,57 a community of experts from academia, business, civil society and governments who are developing a set of principles for sustainable destinations to guide decision-making on rebuilding the sector in the wake of the pandemic. Reddit Email Mapped: Top Countries by Tourist Spending Many people spend their days looking forward to their next getaway. 1.1. These factors may limit their ability to recover economically from the pandemic, but they are also better positioned to generate tourism-led economic growth as international tourism returns. The October World Economic Outlook projected the global economy would contract by 4.4 percent in 2020. The average Human Resource and Labour Market pillar also improved by 1.5% between 2019 and 2021, due to overall progress made in areas such as staff training. With T&T activities being severely restricted over the past few years, the greatest decline in index performance has come from the contraction of related operations and investment. "It is crucial for the success of the global T&T sector that the challenges related to vaccine distribution and roll- out are addressed in an equitable and inclusive fashion. Visualizing the Flow of Energy-Related CO2 Emissions in the U.S. Moreover, there are specific efforts that can be made to manage T&T to prevent overcrowding and efficiently use a destinations carrying capacity. Chart: Automakers Adoption of Fuel-Saving Technologies. For instance, hotels have faced shortages of items ranging from slippers for clients to kitchen equipment.23, The recent outbreak of war in Ukraine and resulting sanctions and travel restrictions related to Russia have added further pressure on the recovery. These results indicate that while high-income economies are best positioned to leverage digitalization and create smart destinations, developing economies are building capacity. According to the UNWTO Panel of Experts, the major trends driving the T&T recovery include domestic tourism, travel close to home, open-air activities, nature-based products and rural tourism.29 The World Travel and Tourism Council (WTTC) data shows that, on average for the 117 economies covered by the index, domestic spendings share of T&T spending increased from 50.8% in 2019 to 62.6% in 2020 as domestic demand fared better than collapsing international demand.30 Moreover, current projections for 2021 show that domestic spending growth is expected to substantially outpace international spend in every region outside of the Caribbean and Middle East.31. For some countries, the inherent rigidities of switching from one tourism business model to another, com- While this was driven largely by an expansion in the number of recognized UNESCO World Heritage natural sites and protected areas, such as national parks, the greatest improvement has come from destinations ability to garner interest in nature-related segments as illustrated by the 20.8% average growth in natural tourism Digital Demand value, a measure of online searches for topics such as natural wonders, outdoor activities and rural accommodation. 10 Economic impacts of tourism + explanations + examples Figure 11: Correlation between public transport and quality of town and city centres. Real GDP among African countries dependent on tourism will shrink by 12 percent. In particular, perceptions of the burden of government regulations and SME access to finance were areas that saw some of the largest improvements. This necessitates the active participation and coordination of sector and non-sector business, employers and employees, government agencies ranging from tourism and health ministries to local authorities, environmental and conservation groups, and international organizations. Consumption of Fuel and Materials per Capita, The Periodic Table of Commodity Returns (2013-2022), Ranked: The 20 Most Air-Polluted Cities on Earth, Mapped: Air Pollution Levels Around the World in 2022. A Flourish map. For one, proper care must be paid to developing transport, tourism, health and ICT infrastructure in rural, nature and secondary destinations. This included biodiversity protection actions such as putting tourism at the forefront of conservation efforts and ensuring that the value tourism provides for conservation efforts via monitoring mechanisms and investing in nature-based solutions is captured. For instance, some major hospitality groups are creating new long-stay properties that include kitchens and living spaces, while other have introduced packages that offer reduced rates for those staying longer, which include IT and boardroom services.35 Furthermore, while virtual business may require less office space, corporations and their employees may need options for occasional company meetings and events that the sector could provide. Destinations that rely heavily on international, business and events tourism are particularly struggling, with many coastal, regional and rural areas faring better than cities. Japan ($106.7 billion) 5. Photo: hecke61/Shutterstock. Worldwide, 44 countries rely on the travel and tourism industry for more than 15% of their total share of employment. Economic contribution of Tourism and beyond: Data on the - UNWTO At the same time, data reveals the extent to which certain larger nations rely on tourism. The tourism economy represents 5 percent of world GDP Tourism contributes to 6-7 percent of total employment International tourism ranks fourth (after fuels, chemicals and automotive products) in global exports The tourism industry is valued at US$1trillion a year Tourism accounts for 30 percent of the world's exports of commercial services Jenny Southan reports Airlines around the world have had to reroute operations, increasing travel times and costs. Life Cycle Emissions: EVs vs. As the TTDI 2021 results reveal, any such enterprise will require a comprehensive and holistic approach. Economic Impact Research - World Travel and Tourism Council Our solutions are integrated across the following areas: The successful design and implementation of reforms in the tourism space requires the combined effort of diverse line ministries and agencies, and an understanding of the impact of digital technologies in the industry. Trends such as sustainability and the pandemic have forced the tourism industry to adapt. Travel and tourism: contribution to global GDP 2021 | Statista Comparing Population Pyramids Around the World. It also involves creating better health and hygiene conditions, ensuring natural resources are protected and that the workforce on which the sector depends has access to training and social protection. Overall, the above adaptations to shifting demand and COVID-19 conditions help highlight how flexible T&T business and destinations can be in times of crisis. List of Countries by Tourism Income - AtlasBig.com Economic growth and market segment choice in tourism-based economies Africa's tourism: A global destination for investment and On the other hand, South Korea is impacted the least: just 2.8% of its GDP is reliant on tourism. For example, the World Economic Forums Global New Mobility Coalition (GNMC) is a multistakeholder community for accelerating the shift to a Shared, Electric and Autonomous Mobility (SEAM) system. The use of big data and various digital platforms and technology can also help seamless travel and act as health and security tools by enabling safety protocols, biosecurity technologies and digital health certificates, thereby boosting traveller confidence. 1. In 2019, the sectors direct, indirect and induced output accounted for about 10% of global GDP. More specifically, the mechanisms through which tourism can accomplish this include cultural and information exchange, encouragement of tolerance, better government functioning, human capital development, and local and cross-border economic gain that can reduce the risks to peace.46 It is now more important than ever to leverage the T&T sectors potential for peace through sustainable development.
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