Over the next 10 years and with an average annual growth rate of 3.3%, the travel and tourism sector is expected to grow at twice the rate of the overall economy, which is forecasted to expand by just 1.5% annually.

The report also reveals Europe’s travel and tourism’s GDP is forecast to grow by 31.4% to €1.73 trillion ($1.9 trillion).

Julia Simpson, WTTC president and CEO, says Europe’s travel and tourism sector is in a strong recovery. In terms of contribution to Europe’s economy and jobs, the sector will almost reach pre-pandemic levels by the end of next year.