The World Travel & Tourism Council (WTTC) released its “Economic Impact” report last month, showing a positive trend in employment.
“2.1 million new jobs were generated directly in the sector in 2014, and in total 6.1 million new jobs were created as a result of total direct, indirect, and induced activity,” the organization wrote in the report. “The total contribution of Travel & Tourism to employment grew 2.3 percent in 2014, while the total GDP contribution grew 3.6 percent, faster than wider economy in 2014 and registering positive growth for the fifth successive year. This is again evidence that Travel & Tourism is a key engine for continued global growth and job creation.”
The WTTC expects Travel & Tourism in 2015 to generate around 7.2 million new jobs in total, with 2.1 million new jobs directly created within the sector.
“This represents growth rates of 2.6 percent and 2.0 percent respectively,” the WTTC wrote.
This is good news for venues, because they are part of the travel cycle as illustrated by the WTTC graphic below showing how money travels.
