North America, the Caribbean, and Europe recovery of Tourism presented by WTCC
North America’s Travel & Tourism sector’s recovery outstripping many other regions, says WTTC
New research from the World Travel & Tourism Council (WTTC) reveals the recovery of North America’s Travel & Tourism sector has soared ahead of many other regions of the world. With recovery taking place faster than expected, its contribution to GDP is forecast to rise 38% this year, ahead of the global average. WTTC, which represents the global Travel & Tourism private sector, says the successful vaccination rollouts in North American countries such as Canada, the U.S. and Puerto Rico, coupled with recently relaxed travel restrictions, are aiding the sector’s fast recovery.
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Caribbean Travel & Tourism sector recovering faster than any other region in the world, says WTTC
The Caribbean’s Travel & Tourism sector is recovering at a faster rate than any other region in the world, with its contribution to GDP expected to rise more than 47% this year, compared to just 30.7% globally, reveals new research from the World Travel & Tourism Council (WTTC). The Caribbean is now benefiting from more relaxed restrictions around the world and low infection rates, which is in turn boosting international travel spend and aiding the region’s swift economic recovery.
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Europe Travel & Tourism sector lags global recovery, says WTTC
Latest research from the World Travel & Tourism Council (WTTC) shows Europe’s Travel & Tourism sector’s year on year recovery may only achieve a growth of
23.9% this year. The data from WTTC says this slow recovery is due to travel restrictions throughout the year, particularly in the first half, which continued to hinder the sector’s recovery. Before the pandemic struck, Europe’s Travel & Tourism sector’s contribution to GDP represented €1.92 trillion (9.5% of the total economy). However, according to the research, and based on the current rate of recovery, the sector’s contribution to GDP could see an increase of less than a quarter (23.9%) in 2021, falling behind the expected growth of the global sector of 30.7%.
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