logo
Global Tourism Surging Ahead of Economic Growth, With Visits to Hit 30 Billion by 2034

Global Tourism Surging Ahead of Economic Growth, With Visits to Hit 30 Billion by 2034

Business Wire4 days ago
LONDON--(BUSINESS WIRE)-- The World Economic Forum has today published a new report forecasting that the travel and tourism industry is projected to serve 30 billion tourist trips by 2034.
Travel and Tourism at a Turning Point: Principles for Transformative Growth, produced in collaboration with Kearney and the Ministry of Tourism Saudi Arabia, reveals a projected $16 trillion contribution to global GDP by the same year—representing more than 11% of the total world economy, according to World Travel & Tourism Council estimates. The report also found that the sector is expanding 1.5 times faster than the global economy, generating significant commercial opportunities as long as the mounting challenges of climate change, labour shortages and infrastructure gaps are addressed.
Inbound and outbound trips increasing fast
Asia is on track to become the world's fastest-growing tourism economy, with the direct travel and tourism GDP contribution expected to exceed 7% across the region by 2034. Notably, India and China alone will represent more than 25% of all outbound international travel by 2030.
Countries such as Sri Lanka, Thailand, Indonesia, and Saudi Arabia are also poised for significant growth, driven by substantial investment in their tourism sectors. This momentum is leading to a rise in international arrivals, increased tourism-related business activity and greater global visibility.
Sports and technology
Equally, high-growth segments like sports tourism, projected to hit $1.7 trillion by 2032, and ecotourism which is growing at 14% CAGR, are redefining travel priorities. The global travel technology market, worth $10.5 billion in 2024, is set to nearly double by 2033, as 91% of industry tech leaders anticipate aggressive investment increases.
To support this boom, the industry will need to expand significantly—requiring an estimated 7 million new hotel rooms, 15 million additional flights annually and investment in infrastructure capable of supporting 30 billion trips globally.
Risks and opportunities
However, the report also flags significant risks. Travel and tourism currently accounts for 8% of global greenhouse gas emissions, a figure that without intervention could rise to 15% by 2034. Waste generated by tourists is expected to reach 205 million tons annually, equivalent to 7% of the world's solid waste. At the same time, workforce shortages are escalating. The UK alone saw 53% turnover in 2022–2023, while the US hospitality industry continues to lag in hiring despite 16%-above-inflation wage increases.
Without decisive, coordinated action, the sector could face up to $6 trillion in lost revenue by 2030 from future disruptions, missing its potential to become a true driver of resilience, inclusion and regeneration.
Børge Brende, President and CEO of the World Economic Forum, said: 'As global travel accelerates, we are standing at a pivotal crossroads. The sector's potential to drive inclusive prosperity, cultural understanding and environmental regeneration is immense—but realizing this opportunity will require more than incremental change.
'It calls for a bold reimagining of the systems that underpin travel and tourism, anchored in multistakeholder collaboration. From aligning on sustainable fuel standards to empowering local communities in tourism planning, the time has come to redesign the rules to create a sector that works better for people and the planet. This report offers a blueprint to guide that transformation and unlock tourism's full promise in a rapidly evolving world.'
His Excellency Ahmed Al-Khateeb, Minister of Tourism for the Kingdom of Saudi Arabia, said:
"This report cements a global truth: tourism is not just a siloed, standalone industry—it is an engine for economic growth, cultural understanding, and international cooperation that influences all aspects of the world's experience-driven economy. As the sector expands, the global community must lead with purpose—reimagining tourism to be more sustainable, inclusive, and resilient.
'In Saudi Arabia, we're investing in regenerative destinations, future-ready infrastructure, and talent development—not only to welcome 150 million visitors by 2030, but to help shape and support the future of global tourism. The story being written about tourism of the future is one of transformation, and we invite the world to be part of it.'
Bob Willen, Managing Partner and Chairman at Kearney, added: 'Tourism is a powerful driver of jobs, culture and economic growth around the world. As the industry grows to meet the needs of billions more travellers, it also needs to evolve. That means using technology responsibly, supporting workers and small businesses, protecting the planet, and making sure local communities truly benefit.
'The principles in our report lay out a practical path forward from investing in greener infrastructure and building a more inclusive workforce, to preserving cultural heritage and planning for future crises. It's about creating a travel and tourism sector that's not just bigger, but works in everyone's interests.'
Notes to editors
Travel and Tourism at a Turning Point: Principles for Transformative Growth is published by the World Economic Forum in collaboration with Kearney and the Kingdom of Saudi Arabia. The report draws on global data, expert interviews and scenario modelling to set out a roadmap for a sustainable and inclusive tourism future.
About Kearney
Since 1926, Kearney has been a leading management consulting firm and trusted partner to three-quarters of the Fortune Global 500 and governments around the world. With a presence across more than 40 countries, our people make us who we are. We work impact first, tackling your toughest challenges with original thinking and a commitment to making change happen together. By your side, we deliver—value, results, impact.
About the World Economic Forum
The World Economic Forum, committed to improving the state of the world, is the international organization for public-private cooperation. The Forum engages the foremost political, business, and other leaders of society to shape global, regional, and industry agendas. (www.weforum.org).
About the Ministry of Tourism of Saudi Arabia
The Ministry of Tourism of Saudi Arabia, established in the year 2000, is at the forefront of transforming the Kingdom into the most attractive global destination for tourists and investors. Dedicated to realizing Saudi Arabia's ambitious Vision 2030, the Ministry focuses on long-term growth through innovative policies, strategic investments, and the development of national human capital. With a mission centered on enabling accelerated and sustainable growth, it employs data-driven strategies and integrated delivery mechanisms, all while staying true to the country's rich Arabian authenticity. The Ministry is deeply committed to sustainability, aiming to lead by example in minimizing environmental impact and promoting eco-friendly tourism practices that ensure the preservation of natural resources for future generations. By aspiring to captivate hearts and minds of global audience, the Ministry opens Saudi Arabia's doors to the world, creating a tourism sector where transformative stories are experienced daily. Having welcomed 100 million visitors in 2023, Saudi Arabia is on a steadfast journey toward its goal of 150 million visitors by 2030. As the guiding force behind Saudi Arabia's tourism sector transformation, the Ministry champions cutting-edge regulations, fosters successful collaborations and cultivates talent. This commitment positions the Kingdom to welcome the world, fueling the realization of Vision 2030 and showcasing a sustainable and vibrant future.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Cognigy Takes Top Spot as Leader in Opus Research's 2025 Conversational AI Intelliview for Self-Service & Enterprise AI Agents
Cognigy Takes Top Spot as Leader in Opus Research's 2025 Conversational AI Intelliview for Self-Service & Enterprise AI Agents

Business Wire

timean hour ago

  • Business Wire

Cognigy Takes Top Spot as Leader in Opus Research's 2025 Conversational AI Intelliview for Self-Service & Enterprise AI Agents

DALLAS--(BUSINESS WIRE)--Cognigy, a global leader in AI-powered customer service solutions, has been recognized as the leader in the newly released 2025 Conversational AI Intelliview from Opus Research. The report, titled 'Decision-Maker's Guide to Self-Service & Enterprise Intelligent Assistants,' shows Cognigy as the leading platform across critical evaluation areas including product capability, enterprise fit, GenAI maturity, and deployment performance. This recognition underscores Cognigy's commitment to empowering enterprises with production-ready, scalable AI solutions that go far beyond chatbot basics. The report cites Cognigy's strengths in visual AI agent orchestration, tool and function calling, AI Ops and observability, and a deep commitment to enterprise-grade control—all delivered through a platform built to scale real-time customer interactions across voice and digital channels. 'Cognigy exemplifies the next stage of conversational AI maturity,' said Ian Jacobs, VP & Lead Analyst at Opus Research. 'Their agentic approach—combining real-time reasoning, orchestration, and observability—demonstrates how GenAI can move beyond experimentation into meaningful, measurable transformation in the contact center.' Cognigy was one of the few vendors identified in the report as a 'True Believer' in the evolution of GenAI-driven self-service, with tools designed to simplify deployment while giving enterprises full control. The platform's AI Agent Manager enables businesses to create, configure, and continuously improve intelligent agents—defining persona, memory scope, and access to tools and knowledge—all through a flexible, low-code interface. Cognigy uniquely blends deterministic logic with generative capabilities, ensuring both speed and reliability in automation. 'This recognition from Opus Research is more than a milestone—it's validation that our strategy is working,' said Alan Ranger, Vice President at Cognigy. 'We're delivering real-world, enterprise-grade automation that's transforming contact centers. From financial services to healthcare to global retail, our customers are scaling faster, resolving issues in real time, and delivering truly modern service experiences.' With global Fortune 500 customers and partnerships across the CCaaS and AI ecosystem, Cognigy continues to lead the way in delivering enterprise-ready AI that combines usability, speed, and impact. This latest industry acknowledgment further solidifies its position as the go-to platform for intelligent self-service. To download a copy of the report, visit To learn more or download the executive summary of the 2025 Opus Research Conversational AI Intelliview, visit About Cognigy Cognigy is transforming the customer service industry with the most advanced AI Agent platform for enterprise contact centers. Its award-winning solution, empowers enterprises to deliver instant, hyper-personalized, multilingual service on any channel. By integrating Generative and Conversational AI to create Agentic AI, Cognigy delivers AI Agents that redefine customer experiences, drive satisfaction, and support contact center employees in real-time. Over 1,000 brands worldwide trust Cognigy and its vast partner network to create AI customer service agents for their contact center. Cognigy's impressive worldwide customer portfolio includes Bosch, Nestlé, DHL, Frontier Airlines, Lufthansa Group, Mercedes-Benz and Toyota. For more information and to book a demo visit: Follow the company on X (formerly Twitter) @Cognigy and on LinkedIn at

CORRECTING and REPLACING: CINNAMON TOAST CRUNCH™ and HORMEL® BLACK LABEL® Bacon Bring the Cinnamon Sizzle to Breakfast with New Limited-Edition Cereal
CORRECTING and REPLACING: CINNAMON TOAST CRUNCH™ and HORMEL® BLACK LABEL® Bacon Bring the Cinnamon Sizzle to Breakfast with New Limited-Edition Cereal

Business Wire

timean hour ago

  • Business Wire

CORRECTING and REPLACING: CINNAMON TOAST CRUNCH™ and HORMEL® BLACK LABEL® Bacon Bring the Cinnamon Sizzle to Breakfast with New Limited-Edition Cereal

MINNEAPOLIS--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions. The updated release reads: CINNAMON TOAST CRUNCH™ AND HORMEL® BLACK LABEL® BACON BRING THE CINNAMON SIZZLE TO BREAKFAST WITH NEW LIMITED-EDITION CEREAL The breakfast duo is back with a new twist that merges cinnamon goodness with savory bacon flavors all in one bowl Bold taste meets breakfast tradition as CINNAMON TOAST CRUNCH™ and HORMEL® BLACK LABEL® bacon reunite for another irresistible collaboration: CINNAMON TOAST CRUNCH™ HORMEL® BLACK LABEL® Bacon Flavored Cereal. * Following last year's buzzworthy debut of the HORMEL® BLACK LABEL® CINNAMON TOAST CRUNCH™ Flavored Thick Cut Bacon, currently available at select retailers nationwide, this sizzling sequel is flipping the script at the breakfast table. Infused with the smoky flavor of BLACK LABEL® Bacon and blasted with CINNADUST™, this limited-edition cereal delivers savory satisfaction with every crunchy bite, making it perfect for breakfast or snacking. 'This collaboration is rewriting the rules of breakfast,' said Brandon Tyrrell, Senior Marketing Manager at General Mills. "Bringing these two iconic breakfast staples and irresistible flavors together gives our fans even more reasons why they Must Cinnadust.' 'After seeing the fan response to last year's collaboration, we knew we had to bring these two breakfast icons back together,' said Aly Sill, Senior Brand Manager at Hormel Foods. 'We're shaking up the way bacon fits into daily routines, and we can't wait for consumers to experience it.' Each specially designed 6-ounce pouch is adorned with CINNAMON TOAST CRUNCH™ Cinnaswirls and the inspired flavor of HORMEL® BLACK LABEL® Bacon, uniting the signature branding of both household names for one unforgettable breakfast experience. Starting Tuesday, July 8, fans can snag a pouch of CINNAMON TOAST CRUNCH™ HORMEL® BLACK LABEL® Bacon Flavored Cereal for $5.84, available exclusively at while supplies last. *Made with artificial bacon flavor ### About General Mills General Mills makes food the world loves. The company is guided by its Accelerate strategy to boldly build its brands, relentlessly innovate, unleash its scale and stand for good. Its portfolio of beloved brands includes household names like Cheerios, Nature Valley, Blue Buffalo, Häagen-Dazs, Old El Paso, Pillsbury, Betty Crocker, Totino's, Annie's, Wanchai Ferry, Yoki and more. General Mills generated fiscal 2025 net sales of U.S. $19 billion. In addition, the company's share of non-consolidated joint venture net sales totaled U.S. $1 billion. For more information, visit About the HORMEL® BLACK LABEL® Brand Bacon plays a larger-than-life role in consumers' lives. It's more than food. It's a symbol, a feeling, an experience. That's what the makers of the HORMEL® BLACK LABEL® brand believe. First established in 1963, the HORMEL® BLACK LABEL® brand is the fastest-growing bacon brand in America and continues to push the bacon world forward, offering a portfolio of flavor-forward products that no other brand can match. For more information on all HORMEL® BLACK LABEL® products, including nutritional information, recipes and where to buy, visit

AMC Theatres® Expands Half-Price Deals for AMC Stubs Members: Beginning July 8, Discount Tuesdays Becomes 50% Off Tickets Tuesdays, Joining 50% Off Wednesdays – Small Popcorn & Drink Combo Is Also 50% Off
AMC Theatres® Expands Half-Price Deals for AMC Stubs Members: Beginning July 8, Discount Tuesdays Becomes 50% Off Tickets Tuesdays, Joining 50% Off Wednesdays – Small Popcorn & Drink Combo Is Also 50% Off

Business Wire

time2 hours ago

  • Business Wire

AMC Theatres® Expands Half-Price Deals for AMC Stubs Members: Beginning July 8, Discount Tuesdays Becomes 50% Off Tickets Tuesdays, Joining 50% Off Wednesdays – Small Popcorn & Drink Combo Is Also 50% Off

LEAWOOD, Kan.--(BUSINESS WIRE)--AMC Theatres® (NYSE: AMC), the largest theatrical exhibitor in the United States and the world, today announced an expansion of its 50% Off Tickets initiative that makes moviegoing more affordable and accessible for millions of AMC Stubs members in the United States. Beginning Tuesday, July 8, AMC's long-running 'Discount Tuesdays' will officially become '50% Off Tuesdays,' with AMC Stubs members receiving 50% off the regular adult-evening ticket price all day long at participating theatres in the United States. This is the same discount being offered through the newly introduced '50% Off Wednesdays' program, which launches the following day on Wednesday, July 9. In addition to half-price off tickets, AMC is also offering 50% off its Small Popcorn & Drink Combo on Tuesdays and Wednesdays, which means AMC Stubs members can enjoy their movie, popcorn, and a fountain drink all for half-price. The 50% off Small Popcorn & Drink Combo is valid on in-theatre purchases only. The 50% Off Tickets on Tuesdays & Wednesdays are available to the more than 36 million AMC Stubs members, including those who sign up for the free AMC Stubs Insider tier. Premium format surcharges and online ticketing fees still apply, but the base ticket price for eligible formats will reflect the 50% discount. Certain movies and holiday periods may be excluded. These changes are part of AMC's continued effort to provide greater moviegoing value that is easy to understand and resonates with moviegoers. Adam Aron, Chairman and CEO of AMC Theatres, said: 'Following the overwhelmingly positive guest response to our announcement of 50% Off Wednesdays ticket pricing, two things became clear. First, our Discount Tuesdays program will benefit from clear, concise messaging that resonates with value-seeking moviegoers. So, we are changing our Tuesday prices and our Tuesday consumer communications such that Tuesdays and Wednesdays will both feature the same 50% Off pricing offer.' Aron continued, 'And second – those moviegoers are also seeking value on concessions. While moviegoers are not required to purchase any food or drink to take advantage of the ticket price discounts, and while we still expect many moviegoers will opt for others of our popular snack items, there is an opportunity to add incremental snack purchase revenues for AMC on Tuesdays and Wednesdays by our featuring on these two days a new 50% Off pricing deal on our Small Popcorn & Drink Combo as well.' Aron concluded, 'Whether it is through our highly successful A-List subscription program, discounted Matinee pricing, or our new '50% Off Tuesdays and Wednesdays' pricing program, AMC continues to offer bargain opportunities for those moviegoers who want to avail themselves of really superb deals.' Guests who are not currently AMC Stubs members can join for free through the AMC mobile app, or at any AMC theatre location. Membership provides access to exclusive offers and year-round savings, including discounted tickets, reward points, birthday perks, and more. To learn more or to join AMC Stubs, visit About AMC Entertainment Holdings, Inc. AMC is the largest movie exhibition company in the United States, the largest in Europe and the largest throughout the world with approximately 900 theatres and 10,000 screens globally. AMC has led innovation in the exhibition industry by deploying its Signature power-recliner seating, expanding food and beverage offerings, investing in premium formats, and developing strong loyalty and subscription programs. For more information, visit Category: Company Release

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store