126 million new travel & tourism jobs in the next 10 years

Abstract: The Schengen region expects to generate close to 126 million travel and tourism jobs in the area by the next decade.

Highlights:

• The EIR report suggests that tourism will play a significant role in the recovery of the economy after the pandemic.
• In the future, one in three jobs will be related to the tourism sector.

A report was recently published by Travel & Tourism Council. The report titled EIR or Economic Impact Report found that 126 million jobs would be created in the Schengen region in the next decade.

It also states that tourism would help in the recovery of the economy, and one out of three jobs would be related to the tourism sector.

More Findings from the EIR

Here are some more findings from the EIR:

• GDP to grow 5.8% per annum from 2022 to 2032.
• It will constitute 11.3 % of the global economy, which would be approximately 14.6 trillion USD.
• By 2023, the travel and tourism sector is expected to reach pre-pandemic levels.
• In 2022, the tourism sector would increase by 43.7 % (approximately 8.4 trillion USD)
• Employment in the tourism sector is set to rise by 3.5 %.

In 2021, the tourism sector witnessed a recovery of over 18 million jobs in Travel and Tourism globally. It was a positive growth of 6.7%.

The contribution of the sector of Travel and Tourism to the global GDP before the pandemic was 10.3%. It decreased to 5.3% in 2020 when the pandemic cases were the highest, which resulted in a loss of 50% of jobs.

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