How big is the tourism economy?

Despite the sharp increase, the market size of tourism worldwide remained below pre-pandemic levels, totaling around two trillion U.S. dollars in 2022. As forecast, this figure is expected to rise to nearly 2.29 trillion U.S. dollars in 2023, surpassing the peak reported in 2019.



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The U.S. travel and tourism industry generated $1.9 trillion in economic output; supporting 9.5 million American jobs and accounted for 2.9% of U.S. GDP.

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According to IBISWorld experts' analysis, the global tourism industry is ranked 5th on the list of the 10 global biggest industries by revenue. However, if we rank the industry's size by employment, the travel industry comes in as the first one.

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The U.S. travel and tourism industry generated $1.9 trillion in economic output; supporting 9.5 million American jobs and accounted for 2.9% of U.S. GDP.

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The U.S. travel and tourism industry generated $1.9 trillion in economic output; supporting 9.5 million American jobs and accounted for 2.9% of U.S. GDP.

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Tourism is one of the world's largest industries, contributing trillions of dollars to the global economy and supporting the livelihoods of an estimated one in ten people worldwide.

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In 2022, the United States reported the highest total contribution of travel and tourism to GDP, with these industries generating, directly and indirectly, roughly two trillion U.S. dollars.

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France is the most visited country in the world with 117,109,000 international tourists, thanks to its rich history and iconic landmarks. Mexico comes in second for most visited countries, with 51,128,000 tourists, offering vibrant culture and stunning natural beauty.

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Despite the sharp increase, the market size of tourism worldwide remained below pre-pandemic levels, totaling around two trillion U.S. dollars in 2022. As forecast, this figure is expected to rise to nearly 2.29 trillion U.S. dollars in 2023, surpassing the peak reported in 2019.

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This accounts for 29% of global service exports and 7% of overall exports of goods and services. These figures consolidate international tourism among the top five economic sectors in the world, behind chemical manufacturing and the fuel industry but ahead of the food and automotive industries.

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Of the 136 top economies in the world, Ukraine is the one least reliant on tourism, with just 1.4% of its gross domestic product coming from visitors. Russia is close behind, with just 1.5% of its GDP coming from tourism.

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European countries with the highest inbound tourism receipts 2019-2022. Spain was the European country with the highest international tourism receipts in 2022, amounting to nearly 73 billion U.S. dollars.

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Germany's economy has consistently had the largest economy in Europe since 1980, even before the reunification of West and East Germany. The United Kingdom, by contrast, has had mixed fortunes during the same time period and had a smaller economy than Italy in the late 1980s.

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When compared with other sectors, travel and tourism also ranks among the fastest growing. With a GDP growth rate of 3.5% in 2019, travel and tourism trailed only behind information and communication and financial services.

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When compared with other sectors, travel and tourism also ranks among the fastest growing. With a GDP growth rate of 3.5% in 2019, travel and tourism trailed only behind information and communication and financial services.

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