Tourism industry insights

The tourism industry includes any domestic or international activity undertaken for leisure, business or social purposes. There are five branches of the tourism industry, accommodation, food and drink services, entertainment, transport, and the travel industry. Before the pandemic, the economic impact of tourism was high, it made up 10.4% of global GDP and created one in four new jobs worldwide. Now, tourism’s impact on economic development is much reduced. GDP contributions have halved and travel passenger numbers are unlikely to reach 2019 levels until at least late 2023. Business travel previously made up a significant portion of all travel, but as the climate-emergency climbs corporate agendas, many will want to keep international travel at a minimum.