Is the tourism industry the largest in the world?

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.



While "largest" can be measured in several ways, the travel and tourism industry remains one of the world's most dominant economic forces in 2026. According to the WTTC, the sector contributed approximately $9 trillion to global GDP in 2025 and is projected to surpass $12 trillion by 2036. It accounts for roughly 1 in every 10 jobs globally, making it a primary engine for employment and international trade. While industries like "Global Healthcare" or "Financial Services" often report higher raw revenue, tourism is uniquely "large" because of its massive multiplier effect—spending in tourism fuels growth in agriculture, construction, and local retail. In 2026, the industry has officially "normalized" after years of volatility, with the Asia-Pacific region leading the charge as the largest regional market by volume and growth.

People Also Ask

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.

MORE DETAILS

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.

MORE DETAILS

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.

MORE DETAILS

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.

MORE DETAILS

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.

MORE DETAILS

Travel and tourism GDP is predicted to grow, on average, at 5.8 percent a year between 2022 and 2032, outpacing the growth of the overall economy at an expected 2.7 percent a year. 5. So, is it all systems go for travel and tourism? Not really. The industry continues to face a prolonged and widespread labor shortage.

MORE DETAILS

United Arab Emirates was second among the fastest-growing destinations for international arrivals in 2022 after Austria. The country was also the most visited in the region last year with 22.7 million tourist arrivals, surpassing 2019 levels, followed by Saudi Arabia, Egypt and Morocco.

MORE DETAILS

1. MALDIVES. In 2022, revenue from foreign visitors equaled 68% of the GDP of the Maldives. 1.7 million people traveled to the Maldives last year, spending $4.2 billion.

MORE DETAILS

Revenue of travel & tourism market selected countries worldwide 2022. The United States is leading the ranking by revenue in the travel & tourism market, recording 175.43 billion U.S. dollars.

MORE DETAILS

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


MORE DETAILS

49% of Americans Plan To Travel More in 2023 This is impressive considering 45% of respondents traveled once or twice in 2022, with 42% traveling three or more times in 2022.

MORE DETAILS

Travel and tourism GDP is predicted to grow, on average, at 5.8 percent a year between 2022 and 2032, outpacing the growth of the overall economy at an expected 2.7 percent a year. 5.

MORE DETAILS

Tourism demand may be defined as requirement of various tourism products (Goods and services) at a particular place or market in a given time period at a given price. More precisely, demand of tourism products is called as tourism demand.

MORE DETAILS

Tourism creates a cultural exchange between tourists and local citizens. Exhibitions, conferences, and events usually attract foreigners. Organizing authorities usually gain profits from registration fees, gift sales, exhibition spaces, and sales of media copyright.

MORE DETAILS

But there are larger economies heavily reliant on international tourism. For instance, in Croatia average net international tourism revenues from 2015-2019 exceeded 15 percent of GDP, 8 percent in the Dominican Republic and Thailand, 7 percent in Greece, and 5 percent in Portugal.

MORE DETAILS

France is the most visited country within Europe, attracting an impressive 81,411,000 foreign sightseers each year – more than any other country in the world. You will find in Paris, the capital, iconic structures such as the Louvre and Eiffel Tower.

MORE DETAILS