World Business Center




TOURISM

Chair

The tourism sector is a vital driver of the global economy, encompassing travel, hospitality, cultural exploration, and recreational activities. It promotes economic development, cultural exchange, and sustainable growth, supporting industries like transportation, accommodation, and local crafts. Tourism also plays a key role in preserving cultural heritage and natural environments.

In 2024, the global tourism market was valued at approximately $2.3 trillion, contributing around 10% of global GDP. The sector employs over 300 million people, making it one of the largest employment generators worldwide. With a projected compound annual growth rate (CAGR) of 6–7%, the industry is expected to surpass $2.8 trillion by 2030, driven by rising disposable incomes, expanding infrastructure, and evolving travel preferences. Leading destinations and contributors include France, the United States, Spain, China, and Italy, renowned for their cultural, historical, and natural attractions. These nations set benchmarks in tourism infrastructure and visitor experiences, shaping the global tourism landscape.


WBC
GLOBAL BUSINESS
REPORT 2024
Market Insights
Innovation and Technology
Economic Contributions
Challenges and Opportunities
Investment Opportunities
Sustainability and ESG
Future Outlook
Global Collaboration

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