WTTC sheds light on China’s travel and tourism sector

Thursday, September 28, 2023

World Travel & Tourism Council (WTTC) threw light on the considerable renaissance of China’s travel & tourism segment.

As per the WTTC’s newest Economic Impact Research, China’s travel and tourism sector is projected to add $1.48TN to the nationwide economy by the conclusion of this year, increasing by more than 150% compared to last year, when the segment added $583BN to the economy.

Ten years from now, the WTTC estimates that the segment will add more than $4TN to the economy of China, representing notable progress, outperforming worldwide CAGR by nearly 2:1.

The international tourism organization also said that that the segment will back more than 74MN jobs in
China this year, going up by more than 18% from last year. This is only 9% after the levels of 2019.

By 2033, the WTTC forecasts that the segment will be backing over 31MN extra jobs to reach virtually 106MN altogether – this signifies nearly one in seven jobs all through China.

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