WTTC: EU Travel & Tourism Falls Behind Global Recovery

The European travel and tourism sector is expected to bring only €270 billion to the EU’s GDP, which represents a growth of 23.9 percent for 2021, and is currently about 6.8 percent lower than the projected growth of the global sector, the World Travel and Tourism Council (WTTC) revealed. ).

Moreover, according to a press release from WTTC, which also explains the findings from the latest data published by the World Tourism Authority, it shows that in 2022, the contribution of travel and tourism to the European economy can expect to increase by 38 percent, representing a boom of 439 billion euros.

The data also reveal that the EU’s contribution to travel and tourism to global GDP before the pandemic was around 1.92 trillion euros, which is 90.5 percent of the economy.

Although the number is showing an upward trend, it is still far from pre-pandemic levels, and the WTTC is pointing the accusing finger at strict travel restrictions imposed by governments, especially during the first half of 2021, TheSchengen.com reports.

On the other hand, WTTC sees a glimpse of hope for the employment sector. According to them, the number of people employed in the travel and tourism sector, despite the recession, is expected to exceed pre-pandemic levels in 2022.

However, WTTC research shows that a 15.7 percent increase in the employment sector is expected in 2022, accounting for about 5.5 million jobs to reach pre-pandemic levels.

Moreover, thanks to the successful vaccination launch, and the implementation of the EU’s digital COVID certification, which was launched five months ago, travel and tourism have managed to recover slightly across the 27-nation bloc. But as the WTTC notes, the same progress has not been found in the international travel and tourism sector, where it has struggled so hard to recover.

The research shows that while domestic spending is set to rise 30.2 percent year-on-year in 2021, international spending is expected to see a smaller increase of only 19.3 percent this year, to 242 billion euros, well below previous levels. Pre-pandemic, from €560 billion in 2019.

Domestic spending is expected to rise to 30.2 percent this year, while international spending could increase by 19.3 percent, to 242 billion euros, about 318 billion euros less than in 2019.

However, in 2022, domestic spending is set to rise by 27.7 percent, moreover, to rise by 77.2 percent year-on-year.

“International spending will also benefit from government measures and experience growth of 26.3 percent this year, and a significant increase of 81.8 percent in 2022. However, with the right measures to support travel and tourism, the number of people working in the sector is growing,” said Julia Simpson, chair of the Board of Trade. And its CEO, said that next year could exceed pre-pandemic levels with an annual increase of 17.6 percent, to reach nearly 43 million jobs.

According to WTTC, the North American travel and tourism industry has been the most successful globally as it is expected to grow by 38 percent and reach a total contribution of $1.7 trillion by 2022.

Previously, the European Travel Commission, in cooperation with air travel companies and other tourism-related companies, including the WTTC, called on the European Union to recognize all seven vaccines approved by the World Health Organization and to end the color-coding system, which leaves space for discrimination against travelers Vaccines based on country of origin.

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Source: schengenvisainfo.com

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