The World Travel & Tourism Council’s latest Economic Impact Report (EIR) reveals the travel and tourism sector in the UK is expected to create nearly 700,000 new jobs over the next decade.
The forecast from the World Travel & Tourism Council (WTTC), shows an average of 70,000 new jobs will be created every year for the next 10 years.
According to the report, the UK’s travel and tourism’s contribution to GDP is forecasted to grow at an average rate of 3% annually between 2022-2032.
This is nearly twice the 1.7% growth rate of the overall economy and is set to reach more than £286 billion (10.1% of the total economy).
By the end of 2022, the sector’s contribution to GDP is expected to grow nearly two thirds (62.7%) to nearly £214 billion, amounting to 8.9% of the total economic GDP.
