Eiffel Tower, Paris Eiffel Tower, Paris

Travel to drive Europe recovery

Europe’s travel and tourism sector is expected to create up to eight million new jobs within the next decade, says the World Travel & Tourism Council’s (WTTC) latest Economic Impact Report (EIR).

The forecast from WTTC, which represents the global travel and tourism private sector, also shows the sector will be a driving force behind Europe’s economic recovery, following more than two years of suffering.

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.

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