The industry is expected to post an annual average growth rate of 5.8% from 2022 to 2032 versus the 2.7% increase in global GDP, and create 126 million new jobs, WTTC said in a report released during the industry group's conference in Manila.
"The recovery is going to be so stellar that it's going to recover really powerfully. This does depend of course on China reopening," said WTTC President Julia Simpson, calling on all governments to reopen borders. The travel and tourism industry's GDP is seen hitting $8.35 trillion this year and $9.6 trillion in 2023, a return to its pre-pandemic level.
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