By 2032, US tourism to contribute $2.6 billion to the country’s economy
Published on : Saturday, June 11, 2022
The World Travel & Tourism Council has recently disclosed new data which showed that the US tourism industry is hoped to contribute more than $2.6 billion in the country’s GDP in the next decade.
The recent Economic Impact Report of WTTC shows that the travel sector of the U.S. is anticipated to generate 9.2 percent of the entire economy on the basis of 3.9 percent average annual growth rate. It’s almost double the expected growth rate of two percent of the economy in general.
Also, the data pinpoints that the jobs in the U.S. tourism has a chance to grow 3.9 percent at an average rate between 2022 and 2032. This represents a 47 percent rise from 2022’s anticipated job levels.
Julia Simpson, WTTC President, said that the long-term revival of the U.S. Tourism appears quite positive, generating over six million new jobs in the next 10 years. However, the backdrop is tremendously aggressive, and the country is losing on its international visitors.
The WTTC predicts that the contribution of tourism to 2022 GDP will grow by 42 compared to 2021. By the end of 2022, it would reach over $1.8 billion, accounting for 7.6 percent of the U.S. economy.
Though the domestic travel sector is flourishing, the spending of international visitors until 2025 will not be returning to the levels of pre-pandemic times, emphasizing the importance of lifting testing restrictions for travellers coming from foreign countries.