Latest news with #WTTC
Travel Daily News
a day ago
- Business
- Travel Daily News
WTTC: Spain 's tourism sector could exceed 260bn euros by 2025
In 2024, the sector in Spain achieved its best result since 2019, with a contribution of almost 249bn. euros to GDP International tourism spending grew by nearly 11% year-on-year MADRID, SPAIN – The World Travel & Tourism Council (WTTC) forecasts that by 2025 the travel and tourism sector in Spain could reach a new all-time high, with an estimated contribution of 260.5 billion euros to GDP, equivalent to almost 16% of the national economy. According to the latest Economic Impact Research (EIR), prepared by WTTC in collaboration with Oxford Economics, these forecasts reinforce the role of tourism as one of the country's main economic drivers, with an estimated year-on-year increase of 4.7%. WTTC projects that by the end of 2025 the sector will account for 3.2 million jobs in Spain, equivalent to 14.4% of total employment. By 2025, spending by international tourists is expected to reach 113.2 billion euros, with a year-on-year growth of 5.7%, while domestic spending could reach 84.9 billion euros, 2.4% more than the previous year. Julia Simpson, President and CEO of WTTC, said: 'Spain remains a true global tourism powerhouse. The data reflects a dynamic, resilient and constantly evolving sector, which not only drives economic growth, but also creates quality jobs and promotes regional development. The forecasts for 2025 are very positive, and with a firm commitment to sustainability and innovation, Spain is well positioned to lead the future of global tourism, even in a challenging international environment.' A look back to 2024 During 2024, the Spanish tourism sector experienced its best year since 2019. Its contribution to GDP rose by almost 8% to €248.7 billion, or 15.6% of the economy. It also employed 3 million people, nearly 14% of the country's total jobs. Spending by international tourists was 107.1 billion euros (up 10.9% year-on-year), while domestic spending reached 82.9 billion, up 2.2% on 2023. These segments accounted for 56.4% and 43.6% of total expenditure, respectively. Leisure travel accounted for 88.3% of total expenditure, compared to 11.7% for business travel expenditure. The main source countries for arrivals into Spain in 2024 were the United Kingdom (20%), France (14%) and Germany (13%). The destinations most visited by Spaniards were France (25%), Italy (14%), the United Kingdom (8%) and Portugal (8%). The next decade Looking ahead to 2035, the WTTC projects that the tourism sector could contribute €315.7 billion to the GDP, which would represent more than 17% of the Spanish economy, as well as 4 million jobs, 700,000 more than at present. Regional data: European Union In 2024, the EU travel and tourism sector contributed almost 1.8 trillion euros to the region's GDP, or more than 10% of its economy. This figure exceeded 2019 levels by almost 6%. Employment associated with the sector grew by 4.7%, year-on-year, to 24.6 million jobs, accounting for one in nine jobs across the region. Domestic travel spending in the EU reached 1 trillion euros, while spending by international visitors reached 515 billion euros. By 2025, WTTC forecasts that the regional sector will reach almost 1.9 trillion euros, representing 10.5% of the EU economy. Employment linked to the sector is estimated to total 25.7 million people, or 12% of the regional total. In addition, the agency expects international spending to grow by more than 11% to 573 billion euros, and domestic spending to increase by 1.6% to more than 1.1 trillion euros.
Hospitality Net
a day ago
- Business
- Hospitality Net
Spain's Tourism Sector Could Exceed €260 Billion by 2025, According to WTTC
In 2024, the sector achieved its best result since 2019, with a contribution of almost €249 billion to GDP International tourism spending grew by nearly 11% year-on-year Madrid, Spain - The World Travel & Tourism Council (WTTC) forecasts that by 2025 the travel and tourism sector in Spain could reach a new all-time high, with an estimated contribution of €260.5 billion to GDP, equivalent to almost 16% of the national economy. According to the latest Economic Impact Research (EIR), prepared by WTTC in collaboration with Oxford Economics, these forecasts reinforce the role of tourism as one of the country's main economic drivers, with an estimated year-on-year increase of 4.7%. WTTC projects that by the end of 2025 the sector will account for 3.2 million jobs in Spain, equivalent to 14.4% of total employment. By 2025, spending by international tourists is expected to reach €113.2 billion, with a year-on-year growth of 5.7%, while domestic spending could reach 84.9 billion euros, 2.4% more than the previous year. Spain remains a true global tourism powerhouse. The data reflects a dynamic, resilient and constantly evolving sector, which not only drives economic growth, but also creates quality jobs and promotes regional development. The forecasts for 2025 are very positive, and with a firm commitment to sustainability and innovation, Spain is well positioned to lead the future of global tourism, even in a challenging international environment. Julia Simpson, President and CEO of WTTC A look back to 2024 During 2024, the Spanish tourism sector experienced its best year since 2019. Its contribution to GDP rose by almost 8% to €248.7 billion, or 15.6% of the economy. It also employed 3 million people, nearly 14% of the country's total jobs. Spending by international tourists was €107.1 billion (up 10.9% year-on-year), while domestic spending reached 82.9 billion, up 2.2% on 2023. These segments accounted for 56.4% and 43.6% of total expenditure, respectively. Leisure travel accounted for 88.3% of total expenditure, compared to 11.7% for business travel expenditure. The main source countries for arrivals into Spain in 2024 were the United Kingdom (20%), France (14%) and Germany (13%). The destinations most visited by Spaniards were France (25%), Italy (14%), the United Kingdom (8%) and Portugal (8%). The next decade Looking ahead to 2035, the WTTC projects that the tourism sector could contribute €315.7 billion to the GDP, which would represent more than 17% of the Spanish economy, as well as 4 million jobs, 700,000 more than at present. Regional data: European Union In 2024, the EU travel and tourism sector contributed almost €1.8 trillion to the region's GDP, or more than 10% of its economy. This figure exceeded 2019 levels by almost 6%. Employment associated with the sector grew by 4.7%, year-on-year, to 24.6 million jobs, accounting for one in nine jobs across the region. Domestic travel spending in the EU reached €1 trillion, while spending by international visitors reached €515 billion. By 2025, WTTC forecasts that the regional sector will reach almost €1.9 trillion, representing 10.5% of the EU economy. Employment linked to the sector is estimated to total 25.7 million people, or 12% of the regional total. In addition, the agency expects international spending to grow by more than 11% to €573 billion, and domestic spending to increase by 1.6% to more than €1.1 trillion. For more information and to access the full factsheet, please visit WTTC's Research Hub. About WTTC The World Travel & Tourism Council (WTTC) represents the global travel & tourism private sector. Members include 200 CEOs, Chairs and Presidents of the world's leading travel & tourism companies from all geographies covering all industries. For more than 30 years, WTTC has been committed to raising the awareness of governments and the public of the economic and social significance of the travel & tourism sector. WTTC Press Office WTTC View source
Reuters
2 days ago
- Business
- Reuters
International tourist spending in Europe seen up 11% this year, report says
MADRID, May 29 (Reuters) - International travel spending in Europe is expected to rise by 11% to $838 billion this year, with France and Spain among the countries set to receive record numbers of tourists, according to a report by the World Travel and Tourism Council. The rosy forecast may be influenced in part by some tourists avoiding the United States as the WTTC expects foreign visitors' spending in the U.S. to decline by about 7% this year. The group's CEO, Julia Simpson, told a press briefing that neighbouring Canadians and Mexicans might opt against travel to the U.S. in light of President Donald Trump's trade and migration policies, or unfavourable currency exchange rates, "which means that more people will come to Europe". The WTTC, which represents the travel industry's private sector, estimated tourists would spend 6% - or 113.2 billion euros ($127.7 billion) - more in Spain this year than in 2024, with between 98 and 100 million visitors topping last year's record of 94 million. "Americans will continue to travel abroad ... and they will be very welcome in Spain," Simpson said. According to the WTTC, France will still receive more tourists than Spain, while the U.S. remains the world's largest travel and tourism market. ($1 = 0.8865 euros)
Newsweek
3 days ago
- Business
- Newsweek
US Economy Could Lose $8.5 Billion Amid Decrease in Foreign Tourism
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Tourism to the United States is projected to dip this year, with international visitor spending expected to fall by $8.5 billion amid tougher trade and immigration policies, according to an Oxford Economics report. Why It Matters Since taking office in January, the Trump administration has implemented hardline immigration enforcement actions, with tourists facing increased scrutiny and screening measures, while also enacting sweeping global trade measures that have hindered foreign relations. The U.S. is the world's largest market for travel and tourism, according to the World Travel & Tourism Council (WTTC). The industry contributed around $2.6 trillion to the U.S. economy last year, and analysts and economists have estimated that it will significantly drop this year, with the WTTC forecasting a $12.5 billion reduction. International tourism touches many parts of the U.S. economy, driving revenue across hospitality, transport, and retail, as well as supporting millions of jobs. What To Know In a May 21 research briefing, director of industry studies at Tourism Economics, part of Oxford Economics, Aran Ryan said, "We expect a decline of 8.7% in US international arrivals for the year overall." It noted that "perceptions of the US impact these [travel] decisions." He stated, "Factors contributing to the negative outlook include Trump administration posturing and policy announcements, such as 'Liberation Day' tariffs across long-standing trade partners," adding, "Media coverage of border security incidents and national travel advisories also poses risks." The expected dip in tourism forecasts international visitor spending to drop by $8.5 billion. It predicts a 20 percent decrease in visitation from Canada and around a 6 percent decrease from Western Europe. The report found that there are approximately 11 percent fewer flights booked to the U.S. during the summer season, between May to July, than at the same time last year. The summer high season is typically from June to August. Travelers walk through Miami International Airport ahead of the Thanksgiving holiday, Wednesday, Nov. 22, 2023, in Miami. Travelers walk through Miami International Airport ahead of the Thanksgiving holiday, Wednesday, Nov. 22, 2023, in Miami. AP Photo/Lynne Sladky Other experts and financial firms have estimated even larger costs, with Jukka Laitamaki, professor of international hospitality and tourism at New York University, telling Newsweek in March that the economic impact could be "anywhere between 60 to 120 billion USD in 2025." What People Are Saying Geoff Freeman, president and CEO, US Travel Association, told CNBC on May 28, 2025: "Whether fair or not, a perception is taking hold that more people are being detained, more devices [are] being searched and legal travelers [are] being deported back to their origin country. That creates a great deal of fear." Julia Simpson, president and CEO of World Travel & Tourism Council, said in a news release on May 14, 2025: "This is a wake-up call for the U.S. government. The world's biggest Travel & Tourism economy is heading in the wrong direction, not because of a lack of demand, but because of a failure to act. While other nations are rolling out the welcome mat, the U.S. government is putting up the 'closed' sign." Eva Stewart, Global Managing Partner at GSIQ, previously told Newsweek: "Data shows that global negative impressions of the U.S. as a travel destination have continued to rise since the start of this year. Our estimates suggesting this could wipe out up to 10% of potential global travel demand into America. This is undoing years of great work and hundreds of millions in marketing spend by cities, states, and Brand USA to promote U.S. destinations." What Happens Next Ryan expects a near 9 percent decline in international visitors to the U.S. this year.
Arabian Business
3 days ago
- Business
- Arabian Business
Why the future of tourism is collaborative
There is an old proverb that says: 'If you want to go fast, go alone. If you want to go far, go together'. In today's tourism landscape, this couldn't be more relevant. As our industry evolves, working together towards a more resilient tourism sector is increasingly vital. Governments, hospitality brands, and entrepreneurs, go further when they move together. Collective action has proven powerful for the travel industry. A prime example is how the World Travel & Tourism Council (WTTC) brought together its members, governments, and industry leaders during the COVID-19 pandemic to establish 'Safe Travels', a set of global standardised protocols that gave travellers confidence to return. In turn, destinations were able to protect their visitors and resume operations safely. Even today, five years later, the World Economic Forum (WEF) noted in its report, ' Future of Travel and Tourism: Embracing Sustainable and Inclusive Growth ', that the industry will be shaped by 'the collaborative efforts of various stakeholders including supporting sectors, each playing a crucial role in driving positive change and innovation.' As tourism grows globally, public-private partnerships (PPPs) are vital in steering the sector towards a sustainable future. We've already seen the positive impact of these partnerships in some of the world's most sought-after destinations. From Macchu Pichu in South America to the Great Barrier Reef in Australia, there are many examples of the private sector collaborating with government to balance tourism with the sustainable preservation of these irreplaceable destinations. In Ras Al Khaimah, one recent example of collective action is an initiative that emerged not from a mandate, but from dialogue and mutual interest among key industry players. In a regional first, the leaders of seven global hotel groups, including Marriott International, Hilton, Accor, IHG Hotels & Resorts, Ennismore, Rotana, and Radisson Hotel Group, came together in early 2025 to formally pledge their support for the Emirate's long-term development goals in the presence of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah. These pledges, reached through individual conversations with leadership, reflect a shared understanding: that sustainable growth in tourism depends on coordinated action. Rather than operating in silos, these hospitality leaders committed to contributing to the growth of the emirate's thriving tourism economy in line with the Ras Al Khaimah's Vision 2030, guiding their efforts across four key areas: supporting the emirate's tourism expansion, aligning on its sustainability standards and goals, raising its global profile, and contributing to its community development. With Ras Al Khaimah aiming to triple the size of its tourism economy and significantly grow its hospitality footprint by 2035, these pledges serve as a framework for how that growth can happen in a way that is inclusive, responsible, and strategically aligned. In an industry built on competition, this collective alignment represents a rare and powerful moment of unity for the industry. As tourism becomes more complex and multi-dimensional, we must also expand our collaborative horizons across borders, industries, and communities. Ultimately, tourism is about connection. And when we build our strategies on shared purpose, we create destinations that are not only more competitive, but more compelling. Looking ahead, I believe that public-private partnerships and cross-border cooperation will shape the future of tourism. As Ras Al Khaimah deepens its partnership with neighbouring emirates and international stakeholders, we are building bridges – not just between businesses, but between communities, cultures, and experiences.
