USA : Largest tourism market despite huge fall in GDP
Travel Biz News —
The United States maintained its position as the largest global travel and tourism market, despite suffering a huge 41 per cent fall in GDP in 2020.
China also kept its position as second biggest travel and tourism market, but experienced a harder GDP fall of 59.9 per cent with Japan slightly improving its ranking – from fourth to third – shouldering a GDP fall nearly half that of China, of just 37 per cent.
The UK, which in 2019 ranked as the world’s fifth biggest travel tourism market, fell three places to number eight, sustaining a punishing GDP fall of 62.3 per cent.
Continuing travel restrictions, and unnecessary and crushing quarantines, caused it to suffer the biggest collapse of the 10 largest travel and tourism markets, according to latest data of the World Travel & Tourism Council (WTTC).
WTTC’s 2021 Economic Impact Report (EIR) identified other leading global travel and tourism markets as suffering similar dramatic GDP falls.
Germany dropped one place from third to fourth position and Italy rose one place from sixth to fifth.
France, the world’s popular destination in terms of international visitor numbers, rose one position from seventh to sixth.
Global travel and tourism sector suffered a loss of almost US$4.5 trillion in 2020 due to the impact of COVID-19, with nearly 62 million jobs lost, representing a drop of 18.5 per cent, leaving just 272 million employed across the industry globally, according to WTTC 2021 EIR research.
May 13 , 2021
Global Rankings – WTTC
