Despite slow international traveler spending, the U.S. remains the leader with nearly double the economic contribution of its closest rival
Oct 3, 2024
The World Travel & Tourism Council (WTTC) has released its 2024 Economic Impact Trends Report, highlighting the U.S. as the world’s leading travel and tourism market, contributing a record $2.36 trillion to the economy last year.
Key takeaways
- China ranked as the second strongest market, contributing US$1.3 trillion to GDP in 2023, showing a strong recovery despite the late reopening of its borders;
- Germany takes third place with a contribution of US$487.6 billion, while Japan moves up from fifth to fourth place with an impact of US$297 billion;
- Looking ahead, WTTC forecasts that China will overtake the US as the largest travel and tourism market, with India rising to 4th place over the next decade.
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