According to the World Travel and Tourism Council, the travel and tourism sector's contribution to the national treasury is expected to exceed $2.5 trillion by 2024, or 9% of the U.S. economy. Additionally, this sector employs approximately 18.8 million people nationwide, with one in nine Americans working in travel and tourism.
However, international tourism bodies recently said it is essential to focus on visa processing, border queuing and staffing issues ahead of the FIFA World Cup and Olympics.
According to WTTC's 2024 Economic Impact Study, the sector contributed approximately $2.36 trillion in 2023, registering a 7% growth compared to the previous year's contribution of $100 billion. Additionally, employment in the sector increased by 656,000 to reach 18 million nationwide, breaking the previous record of 17.4 million.
Domestic travelers spent $1.37 trillion last year, an increase of more than 9% from the previous peak in 2019. But spending by international travelers was $156.1 billion, more than a quarter behind the same 2019 peak.
“The United States has broken all travel and tourism records, employing 18 million people and boosting the U.S. economy by nearly $2.4 trillion,” said Julia Simpson, president and CEO of WTTC. said. “While the U.S. government has supported travel and tourism, spending by international visitors remains below 2019 numbers. Focusing on visa processing, border lines, and staffing, FIFA There will be a significant boost to the sector ahead of the World Cup and Olympics.”
The employment sector is now above pre-pandemic levels, with travel and tourism employment accounting for an 11.2% share of the job market and a total of 18 million jobs.
“The travel and tourism sector is a major contributor to job creation, as well as providing opportunities for young people and women of all skill levels,” added Simson.
Domestic tourist spending is expected to continue to increase and reach $1.43 trillion, about 14% higher than the 2019 record, according to WTTC. However, international tourist spending is still expected to be below 2019 levels. International tourist spending is likely to remain at more than $20 billion from its previous peak in 2024.
WTTC's Hotel Sustainability Basics program currently includes more than 1,700 certified hotels across 70 countries, helping hoteliers around the world. Major hotel groups from France, China, Mexico, India, Germany, South Africa, the Philippines and Norway are participating in the initiative.
