International visitor spending is forecast to reach a historic US$2.1 trillion in 2025, surpassing the previous peak by US$164 billion, according to new research from the World Travel & Tourism Council. Olivia Palamountain reports

The latest projections from the World Travel & Tourism Council (WTTC) show global travel and tourism is expected to contribute an all-time high of US$11.7 trillion to the world economy this year, accounting for 10.3% of global GDP, despite ongoing economic uncertainty.

In addition, international visitor spending is forecast to reach a historic US$2.1 trillion in 2025, surpassing the previous peak by US$164 billion.

Jobs supported by the sector are forecast to grow by 14 million in 2025 to reach 371 million worldwide - more than the population of the US - according to the WTTC's 2025 Economic Impact Research.

Julia Simpson, WTTC president & CEO, says: "People are continuing to prioritise travel. That's a powerful vote of confidence in our sector and a sign of its enduring strength."

However, she warns that recovery remains uneven across different markets. "Whilst some countries and regions are producing record-breaking numbers, other large economies are plateauing," Simpson adds.

Major tourism markets including the US, China and Germany have seen growth slow significantly. In the US, described as the world's most powerful travel and tourism market, international visitor spending remained significantly below 2019 levels in 2024 and is not expected to fully recover this year. Find more on this here.

China, whilst recording international spending above pre-pandemic levels last year, is expected to see growth slow sharply in 2025.

By contrast, other key markets are setting new benchmarks. Saudi Arabia, which plans to inject US$800 billion into the sector by 2030, is ahead of the curve. European destinations France and Spain, the world's top two countries by visitor numbers, continue to lead the region's resurgence through smart investment and global appeal.

The research shows that in 2024, travel and tourism contributed 10% of the world's economy, reaching US$10.9 trillion - an 8.5% increase on 2023 and 6% above the previous peak of 2019. Jobs grew 6.2% to reach 357 million, accounting for one in 10 jobs globally.

International spending increased by almost 12% to US$1.87 trillion, whilst domestic spending grew 5.4% to US$5.3 trillion.

Looking ahead to 2035, the WTTC forecasts that travel and tourism will inject US$16.5 trillion into the global economy, accounting for 11.5% of global GDP. This represents a decade-long growth rate of 3.5% annually, outpacing the wider economy's projected 2.5%.

Jobs are expected to reach one in eight globally, with more than 460 million positions. International spending is anticipated to reach US$2.9 trillion with a compound annual growth rate of 3.4%, whilst domestic spending will grow at a similar rate to reach US$7.7 trillion.

The research, produced in collaboration with Oxford Economics, covers the economic and employment impact of travel and tourism across 185 economies.

The sector's environmental impact remained significant, with the WTTC's Environmental Social Research showing tourism emissions stood at 6.5% of the global total in 2023, highlighting the need for continued sustainable innovation as the industry expands.