New WTTC report unveils UK tourism to generate 700, 000 new jobs in the next decade
Published on : Friday, May 20, 2022
The recent Economic Impact Report of the World Travel & Tourism Council has disclosed that the sector in the next decade in UK is hoped to generate almost 700,000 new job opportunities.
This WTTC prediction pinpoints that for the next 10 years, an average of 70,000 new jobs will be created on an every year basis. As per the report, the Travel & Tourism of the UK and its contribution to GDP between 2022-2032, is expected to increase annually at an average rate of 3%. It would be almost twice the 1.7% growth rate of the economy in general. Also, it’s expected to reach over £286 billion.
The contribution of tourism to GDP by the end of this year is anticipated to rise almost two thirds (62.7%) to almost £214 billion. This would amount to 8.9% of the total GDP.
The employment in the tourism during this time is expected to grow by only 0.5% and reach a little above four million jobs.
Julia Simpson, WTTC President & CEO, said that the future looks positive in terms of the revitalization of the UK Tourism however in the short term, visitor spending of international tourists is quite low which is damaging the recovery of the country’s financial conditions. In spite of encountering huge loss in tourism for two years, the UK government fails to value this sector in the right manner.