Now tourism worth over a trillion sterling, says WTTC

Thursday, September 21, 2023

Today, the WTTC 2023 Economic Impact Research unveils the UK Travel & Tourism sector this year is anticipated to exceed the 2019 peak figures. In 2023, the sector is all geared up to contribute £252.4BN to the UK economy, exceeding the 2019 pre-pandemic high of £248.5BN.

Also, WTTC is predicting that in 2023 the sector will generate around 380,000 job opportunities, reviving almost all of the jobs that got lost due to the pandemic situation to reach the height of over 4MN, with roughly in UK, one in nine workers are in tourism sector.

To the UK, international visitor spending is forecasted to reach £26.18BN, just 6% behind £38.6BN, the 2019 peak figures.

If we look back on 2022, the GDP contribution of the sector rose by 65% to reach over £237BN, representing 9.5% of the economy, bordering closer to the levels of 2019 high of 9.9% of the economy.

Also, the sector in 2022 created 1.1MN more job opportunities from the year before to reach 3.6MN jobs nationwide, one in 10 jobs all over the UK.

At present, the sector has revived 1.5MN of the 1.7MN jobs that were lost during the COVID times.

Also, 2022 saw the reappearance of international travellers going to the UK with spending over 300%.

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