Anyone who has taken a trip this summer can tell the tourism sector is exploding with packed flights, soaring hotel rates and cruise ships buzzing with passengers.
Tourism remains the bright spot even in China, which is facing economic turmoil at the moment.
That kind of demand is expected to go only higher in the coming years. The World Travel & Tourism Council estimates the tourism economy will expand to become a $15.5 trillion industry by 2033, according to the WTTC’s Travel & Tourism Economic Impact 2023 report.
That means an estimated 24 million new travel- and tourism-related jobs added to the sector over the next decade.
It’s not all good news, however.
“Despite all this, the year ahead will not be without its challenges. Inflation, economic uncertainty, labour shortages and the climate crisis are limiting factors,” WTTC president and CEO Julia Simpson noted in the report. “And as…
