The World Travel and Tourism Council (WTTC) has revealed that the French travel and tourism sector could exceed pre-pandemic levels next year, when it is expected to grow by 2.2% compared to 2019 levels.
WTTC’s recent Economic Impact Report (EIR) also shows that the sector’s contribution to GDP by next year could reach more than €216 billion, reports SchengenVisaInfo.com.
According to the report, 2019 levels are also expected to outpace employment in the sector, creating nearly 90,000 additional jobs, or nearly 2.8 million by the end of next year.
The latest data from the World Tourism Organization reveals that travel and tourism GDP is expected to grow by an average of 2.8% per year over the next decade, which is more than double the growth rate of 1, 3% of the whole country. economy, reaching almost €264 billion or 9% of the total economy.
In addition, the forecast also shows that in the next ten years, the travel and tourism sector in France is expected to create more than 385,000 jobs, or on average more than 38,000 new jobs each year, reaching more than three million people. employed in this sector until 2032. .
Meanwhile, by the end of this year, the sector’s contribution to GDP is expected to increase by 24.3% to more than €200 billion, reaching 7.8% of total economic GDP. However, in terms of employment in this sector, it is expected to grow at a slower pace at 3.1%, to nearly 2.7 million jobs.
In this regard, WTTC President and CEO Julia Simpson said that France is the backbone of the European travel and tourism sector and, at the same time, the most popular destination in the world.
“Throughout the pandemic, President Macron and his government have recognized the importance of our sector and have shown full commitment to the recovery,” she also pointed out.
According to her, these data provided by the WTTC offer a positive outlook, showing a clear recovery in the economic contribution of the sector.
Before the start of the pandemic, France’s overall contribution to travel and tourism in GDP was 8.4% or €211.9 billion, which compared to 2020 has only decreased by 5% or 114.9 billion euros, a staggering loss of 45.8%.
The sector also supported nearly 2.7 million jobs, before an almost complete ban on international travel that led to the loss of 255,000 jobs, or 9.5% of them in the industry, to reach a just over 2.4 million by 2020.
In 2021, its contribution to GDP increased by 40.6% year on year, to reach 161.5 billion euros.
However, the recovery in employment has been slower, with only 170,000 jobs created in travel and tourism, reaching 2.6 million.
On May 20, the latest WTTC EIR report also 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. .
Additionally, forecasts also reveal that the travel and tourism sector is expected to create nearly half a million jobs over the next decade, averaging more than 47,000 each year.