Is the tourism industry the biggest?

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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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. At 14.5% of international travel spending globally, international travelers spend more in the United States than any other country.

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Where does the Global Tourism industry rank in terms of market size in 2023? The Global Tourism industry is the 1st ranked Additional Global Reports industry by market size and the 9th largest.

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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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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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The United States ranks third with 45,037,000 visitors, known for its diverse landscapes and iconic cities.

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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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As the industry entered the recovery period of the COVID–19 pandemic, travel and tourism's share of GDP increased from 1.54 percent in 2020 to 2.15 percent in 2021 (table A). The travel and tourism industry's real output increased $362.0 billion in 2021 but has not fully recovered from the pandemic.

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Tourism is one of the fastest growing industries and contributes a great deal to economies around the world. However, the damage tourism can cause to local cultures and the environment is often ignored.

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Biggest Industries by Revenue in the US in 2023
  • Pharmaceuticals Wholesaling in the US. ...
  • Health & Medical Insurance in the US. ...
  • Commercial Banking in the US. ...
  • New Car Dealers in the US. ...
  • Life Insurance & Annuities in the US. ...
  • Public Schools in the US. ...
  • Retirement & Pension Plans in the US. ...
  • Gasoline & Petroleum Wholesaling in the US.


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Overall, these industries represented 7.6 percent of the global GDP in 2022. That year, the total contribution of travel and tourism to the global GDP amounted to 7.7 trillion U.S. dollars.

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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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Foreigners visit the U.S. to see natural wonders, cities, historic landmarks, and entertainment venues. Americans seek similar attractions, as well as recreation and vacation areas. Walt Disney World's Magic Kingdom in Bay Lake, Florida is the most visited theme park in the world.

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Foreigners visit the U.S. to see natural wonders, cities, historic landmarks, and entertainment venues. Americans seek similar attractions, as well as recreation and vacation areas. Walt Disney World's Magic Kingdom in Bay Lake, Florida is the most visited theme park in the world.

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Every year, the country's famous cities, national parks, and entertainment options attract millions of visitors from around the globe. Thanks to this influx of visitors and a boost in U.S. travel spending, the travel and tourism industry contributed nearly 900 billion U.S. dollars to the country's GDP in 2021.

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Most US citizens prefer to travel to neighboring countries. The most popular destination for American travelers is Mexico, with 39.3 million tourists a year. However, tourists from the USA are warmly welcomed in many other countries of the world.

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Top 5 U.S. Exports
  • Gasoline and Other Fuels.
  • Crude Petroleum.
  • Liquified Natural Gas (LNG) and Other Natural Gases.
  • Civilian Aircraft Parts.
  • Passenger Vehicles.


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