Travel and tourism sector witnesses record growth in 2018
April 11, 2019 / travelandtourworld
In 2018, the travel and tourism sector witnessed record growth, going up to $8.8 trillion from $8.3 trillion in 2017. Tourism has made immense contributions to the world’s combined gross domestic product, supporting 319 million jobs.A WTTC report said that travel and tourism generated 10.4% of the world’s total economic activity in 2018. The rapid growth of travel and tourism in regions like Oceania, Southeast Asia, India, and China contributed to this growth.Although North America is a mature market, it saw the slowest growth in 2018. Meanwhile, the fall of the British pound against a range of major currencies has made the UK an attractive destination for global tourists. The fastest-growing region is the Caribbean, followed closely by Southeast Asia.