German travel and tourism sector expected to add 470,000 jobs over next decade, WTTC reveals

The recent Economic Impact (EIR) from the World Travel & Tourism Council revealed that the German travel and tourism sector over the next year will exceed pre-pandemic levels by almost 2.5% compared to 2019 levels.

Forecasts by the World Travel and Tourism Council (WTTC) also showed that the sector’s contribution to GDP could also reach more than 364 billion euros by 2023, reports SchengenVisaInfo.com.

According to the report, between 2022 and 2023, travel and tourism GDP is expected to grow at an average annual rate of 1.3% per year, which means a growth rate of 1.1% for the country’s economy, thus reaching more than 394 billion euros or 9.7% of the total economy.

Forecasts also reveal that the travel and tourism sector is expected to create nearly half a million jobs over the next ten years, averaging more than 47,000 each year.

Meanwhile, the sector’s contribution to GDP by the end of this year is expected to increase by 52.4% to more than €347 billion, reaching 9.6% of total economic GDP. Moreover, in terms of employment in this sector, it is expected to increase by 6.9% to reach 5.5 million jobs.

WTTC President and CEO Julia Simpson said the COVID-19 pandemic has severely affected Germany’s travel and tourism sector, millions of livelihoods and the national economy.

“However, our data offers a positive outlook that will provide a massive boost to businesses across Germany as the sector finally begins to recover from the pandemic,” she also underlined in this regard.

Before the start of the pandemic, the contribution of the German travel and tourism sector to GDP was 9.8% or 355.3 billion euros, falling until 2020 to only 6.3% or 217.2 billion euros, a staggering loss of 38.9%.

The sector also supported almost 5.9 million jobs, before an almost complete ban on international travel that saw a drop of almost 800,000 or 13.5%, to just over five million by 2020.

According to the latest WTTC EIR report, 2021 has seen the start of the recovery of the country’s travel and tourism sector.

In 2021, its contribution to GDP increased by 5% year on year, reaching 228 billion euros. The recovery in employment has been slower, with less than 15,000 jobs created in travel and tourism, reaching nearly 5.1 million.

>> Traveling to Germany: current COVID entry rules explained

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