WTTC's Philippines 2022 Annual Research
The World Travel and Tourism Council produces reports on the economic and employment impact of Travel & Tourism for 185 countries/economies and 25 geographic or economic regions in the world.
These reports, in conjunction with Oxford Economics, are a vital tool in helping us to equip public and private sector bodies with hard evidence of the huge value Travel & Tourism brings to the economy, so that their policymaking and investment decisions support our sector. Prior to the pandemic, Travel & Tourism (including its direct, indirect and induced impacts) accounted for 1 in 4 of all new jobs created across the world, 10.3% of all jobs (333 million), and 10.3% of global GDP (US$9.6 trillion). Meanwhile, international visitor spending amounted to US$1.8 trillion in 2019 (6.8% of total exports). WTTC’s latest annual research shows:
Following a loss of almost US$4.9 trillion in 2020 (-50.4% decline), Travel & Tourism's contribution to contribution increased by US$1 trillion (+21.7% rise) in 2021.
In 2019, the Travel & Tourism sector contributed 10.3% to global GDP; a share which decreased to 5.3% in 2020 due to ongoing restrictions to mobility. 2021 saw the share increasing to 6.1%.
In 2020, 62 million jobs were lost, representing a drop of 18.6%, leaving just 271 million employed across the sector globally, compared to 333 million in 2019. 18.2 million jobs were recovered in 2021, representing an increase of 6.7% year-on-year.
Following a decrease of 47.4% in 202, domestic visitor spending increased by 31.4% in 2021.
Following a decrease of 69.7% in 2020, international visitor spending rose by 3.8% in 2021.
Philippines 2022 Annual Research Key Highlights
