According to a World Economic Forum analysis developed in collaboration with Kearney and Saudi Arabia’s Ministry of Tourism, worldwide tourism will reach 30 billion trips by 2034, contributing $16 trillion to global GDP and accounting for more than 11% of the global economy.
According to the report, the industry is growing 1.5 times faster than the global economy, which has significant business opportunities if challenges like climate change, workforce shortages, and infrastructure gaps are addressed.
Asia is projected to lead global tourism growth, with India and China accounting for more than 25% of outbound international travel by 2030. Countries like Sri Lanka, Thailand, Indonesia, and Saudi Arabia are actively investing in their tourism sectors, resulting in increased growth and arrivals. High-growth areas such as sports tourism are expected to reach $1.7 trillion by 2032, while ecotourism is growing at a 14% annual rate.
The report highlights the need for 7 million new hotel rooms and 15 million additional flights each year to support the expansion. However, concerns about emissions and waste generation continue, with greenhouse gas emissions from tourism potentially increasing to 15% by 2034.
