The travel industry is projected to generate over $16 trillion globally, representing nearly 12% of global GDP by 2035, according to World Travel and Tourism Council, WTTC’s 2025 economic impact research, conducted in collaboration with Oxford Economics.

It is expected to support approximately one in eight jobs globally, according to WTM Global Travel Report 2025, in association with Tourism Economics made public at the opening of the three-day World Travel Market, London, United Kingdom.

“Consumers in major markets continue to prioritise travel despite increased living costs and squeezed household budgets. The share of consumer spending on leisure travel remains above the long-run average in most major advanced economies and is continuing to increase in large developing markets.

The travel industry is projected to outpace the global economy over the near-term, outperforming many other major industries. Over the next decade, the industry is on track to post annual growth of 3.5%, surpassing global economic growth of 2.5% per year over the same period,” the report stated.

“As a result, by 2035, the travel industry is expected to generate over $16 trillion globally, representing nearly 12% of global GDP, according to WTTC’s 2025 economic impact research, conducted in collaboration with Oxford Economics.

Growth is notable in Asia Pacific, driven by rapid expansion of the middle class in emerging markets, which is creating a new cohort of consumers interested in travel.”

The reported added that “Over the next five years, an extra 150 million households globally are expected to be defined as travelling class, with sufficient disposable income to undertake international

leisure travel.

Almost 110 million of these households are expected to be in Asia Pacific with 40% expected to emerge in China.

Despite the slower economic outlook with a maturing economy, Chinese travellers are still expected to account for 27% of the increase in international travel spending worldwide by 2030.

This underscores the significant opportunities in targeting visitors from this fast-growing and quickly-evolving market. Strong growth is expected in other emerging markets, which also present opportunities, but from a lower starting position in terms of international travel demand.”

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