The global travel and tourism sector is projected to contribute US$12 trillion to the world economy in 2026, accounting for nearly 10% of global GDP as the industry continues to expand faster than the broader global economy.
According to the latest Economic Impact Research by the World Travel & Tourism Council (WTTC) in partnership with Oxford Economics, global travel and tourism GDP is forecast to grow 3.2% in 2026, outpacing wider economic growth of 2.4%. The sector is also expected to support 376 million jobs worldwide, equivalent to one in every nine jobs globally.
Over the next decade, the industry is forecast to generate almost 89 million new jobs, while global travel and tourism GDP is expected to grow at an annual rate of 3.6%, about 1.5 times faster than the broader economy.
Europe is set to remain one of the sector’s brightest spots, with travel and tourism GDP forecast to expand 3.6% in 2026, sharply ahead of the region’s wider economic growth estimate of just 1%.
The WTTC said international visitor spending across Europe is expected to rise 7.1% next year as travellers increasingly favour destinations closer to home amid geopolitical uncertainty elsewhere.
Southern European destinations continue to lead the recovery, with Spain and Italy among the region’s strongest-performing tourism markets. Spain alone welcomed 96.8 million international visitors in 2025 and generated €115.1 billion in visitor spending, making it Europe’s top tourism revenue destination.
WTTC President and Chief Executive Officer Gloria Guevara said the sector remains one of Europe’s most important economic growth engines amid slowing global expansion, driven by strong investment, connectivity and supportive tourism policies.
