Published on : Friday, October 13, 2017
According to the recently published World Tourism and Travel Council 2017 report, some grim reading comes to the forefront in terms of its expectations from Libya tourism and travel industry. Though the study declares 2016 as its starting point, a year when Libya is at its lowest economic performance and going through dramatic political divisions and militia insecurity, the said report however makes a strict warning.
The report predicts that Libya’s travel and tourism input is anticipated to increase from 3.4 percent to 3.6 percent of Libya’s GDP by this year. The industry is also anticipated to contribute into direct employment with growth rising to 2.3 in 2017 to 2.5 percent of total employment in the decade to 2027.
Simultaneously, it also reported that Libya positioned 133rd in terms of the contribution of the tourism and travel industry to the GDP of the country last year.
Employment is predicted to decline by 5.3 percent this year to 101,000 which was 106,500 in 2016 and increased by 2.9 percent per annum to 134,000 jobs in 2027, or just 5.9 percent of total employment.
The contribution of Travel & Tourism directly to GDP was LYD1,563.9mn (USD1,125.8mn), 3.4percent of total GDP in last year and is predicted to increase by 2.4 percent in 2027.