Reimagining the $9 trillion tourism economy—what will it take?

Tourism made up 10 percent of global GDP in 2019 and was worth almost $9 trillion, 1 See “Economic impact reports,” World Travel & Tourism Council (WTTC), wttc.org. making the sector nearly three times larger than agriculture. However, the tourism value chain of suppliers and intermediaries has always been fragmented, with limited coordination among the small and medium-size enterprises (SMEs) that make up a large portion of the sector. Governments have generally played a limited role in the industry, with partial oversight and light-touch management.

COVID-19 has caused an unprecedented crisis for the tourism industry. International tourist arrivals are projected to plunge by 60 to 80 percent in 2020, and tourism spending is not likely to return to precrisis levels until 2024. This puts as many as 120 million jobs at risk. 2 “International tourist numbers could fall 60-80% in 2020, UNWTO reports,” World Tourism Organization, May 7, 2020, unwto.org.

Reopening tourism-related businesses and managing their recovery in a way that is safe, attractive for tourists, and economically viable will require coordination at a level not seen before. The public sector may be best placed to oversee this process in the context of the fragmented SME ecosystem, large state-owned enterprises controlling entry points, and the increasing impact of health-related agencies. As borders start reopening and interest in leisure rebounds in some regions , governments could take the opportunity to rethink their role within tourism, thereby potentially both assisting in the sector’s recovery and strengthening it in the long term.

In this article, we suggest four ways in which governments can reimagine their role in the tourism sector in the context of COVID-19.

1. Streamlining public–private interfaces through a tourism nerve center

Before COVID-19, most tourism ministries and authorities focused on destination marketing, industry promotions, and research. Many are now dealing with a raft of new regulations, stimulus programs, and protocols. They are also dealing with uncertainty around demand forecasting, and the decisions they make around which assets—such as airports—to reopen will have a major impact on the safety of tourists and sector employees.

Coordination between the public and private sectors in tourism was already complex prior to COVID-19. In the United Kingdom, for example, tourism falls within the remit of two departments—the Department for Business, Energy, and Industrial Strategy (BEIS) and the Department for Digital, Culture, Media & Sport (DCMS)—which interact with other government agencies and the private sector at several points. Complex coordination structures often make clarity and consistency difficult. These issues are exacerbated by the degree of coordination that will be required by the tourism sector in the aftermath of the crisis, both across government agencies (for example, between the ministries responsible for transport, tourism, and health), and between the government and private-sector players (such as for implementing protocols, syncing financial aid, and reopening assets).

Concentrating crucial leadership into a central nerve center  is a crisis management response many organizations have deployed in similar situations. Tourism nerve centers, which bring together public, private, and semi-private players into project teams to address five themes, could provide an active collaboration framework that is particularly suited to the diverse stakeholders within the tourism sector (Exhibit 1).

We analyzed stimulus packages across 24 economies, 3 Australia, Bahrain, Belgium, Canada, Egypt, Finland, France, Germany, Hong Kong, Indonesia, Israel, Italy, Kenya, Malaysia, New Zealand, Peru, Philippines, Singapore, South Africa, South Korea, Spain, Switzerland, Thailand, and the United Kingdom. which totaled nearly $100 billion in funds dedicated directly to the tourism sector, and close to $300 billion including cross-sector packages with a heavy tourism footprint. This stimulus was generally provided by multiple entities and government departments, and few countries had a single integrated view on beneficiaries and losers. We conducted surveys on how effective the public-sector response has been and found that two-thirds of tourism players were either unaware of the measures taken by government or felt they did not have sufficient impact. Given uncertainty about the timing and speed of the tourism recovery, obtaining quick feedback and redeploying funds will be critical to ensuring that stimulus packages have maximum impact.

2. Experimenting with new financing mechanisms

Most of the $100 billion stimulus that we analyzed was structured as grants, debt relief, and aid to SMEs and airlines. New Zealand has offered an NZ $15,000 (US $10,000) grant per SME to cover wages, for example, while Singapore has instituted an 8 percent cash grant on the gross monthly wages of local employees. Japan has waived the debt of small companies where income dropped more than 20 percent. In Germany, companies can use state-sponsored work-sharing schemes for up to six months, and the government provides an income replacement rate of 60 percent.

Our forecasts indicate that it will take four to seven years for tourism demand to return to 2019 levels, which means that overcapacity will be the new normal in the medium term. This prolonged period of low demand means that the way tourism is financed needs to change. The aforementioned types of policies are expensive and will be difficult for governments to sustain over multiple years. They also might not go far enough. A recent Organisation for Economic Co-operation and Development (OECD) survey of SMEs in the tourism sector suggested more than half would not survive the next few months, and the failure of businesses on anything like this scale would put the recovery far behind even the most conservative forecasts. 4 See Tourism policy responses to the coronavirus (COVID-19), OECD, June 2020, oecd.org. Governments and the private sector should be investigating new, innovative financing measures.

Revenue-pooling structures for hotels

One option would be the creation of revenue-pooling structures, which could help asset owners and operators, especially SMEs, to manage variable costs and losses moving forward. Hotels competing for the same segment in the same district, such as a beach strip, could have an incentive to pool revenues and losses while operating at reduced capacity. Instead of having all hotels operating at 20 to 40 percent occupancy, a subset of hotels could operate at a higher occupancy rate and share the revenue with the remainder. This would allow hotels to optimize variable costs and reduce the need for government stimulus. Non-operating hotels could channel stimulus funds into refurbishments or other investment, which would boost the destination’s attractiveness. Governments will need to be the intermediary between businesses through auditing or escrow accounts in this model.

Joint equity funds for small and medium-size enterprises

Government-backed equity funds could also be used to deploy private capital to help ensure that tourism-related SMEs survive the crisis (Exhibit 2). This principle underpins the European Commission’s temporary framework for recapitalization of state-aided enterprises, which provided an estimated €1.9 trillion in aid to the EU economy between March and May 2020. 5 See “State aid: Commission expands temporary framework to recapitalisation and subordinated debt measures to further support the economy in the context of the coronavirus outbreak,” European Commission, May 8, 2020, ec.europa.eu. Applying such a mechanism to SMEs would require creating an appropriate equity-holding structure, or securitizing equity stakes in multiple SMEs at once, reducing the overall risk profile for the investor. In addition, developing a standardized valuation methodology would avoid lengthy due diligence processes on each asset. Governments that do not have the resources to co-invest could limit their role to setting up those structures and opening them to potential private investors.

3. Ensuring transparent, consistent communication on protocols

The return of tourism demand requires that travelers and tourism-sector employees feel—and are—safe. Although international organizations such as the International Air Transport Association (IATA), and the World Travel & Tourism Council (WTTC) have developed a set of guidelines to serve as a baseline, local regulators are layering additional measures on top. This leads to low levels of harmonization regarding regulations imposed by local governments.

Our surveys of traveler confidence in the United States  suggests anxiety remains high, and authorities and destination managers must work to ensure travelers know about, and feel reassured by, protocols put in place for their protection. Our latest survey of traveler sentiment in China  suggests a significant gap between how confident travelers would like to feel and how confident they actually feel; actual confidence in safety is much lower than the expected level asked a month before.

One reason for this low level of confidence is confusion over the safety measures that are currently in place. Communication is therefore key to bolstering demand. Experience in Europe indicates that prompt, transparent, consistent communications from public agencies have had a similar impact on traveler demand as CEO announcements have on stock prices. Clear, credible announcements regarding the removal of travel restrictions have already led to increased air-travel searches and bookings. In the week that governments announced the removal of travel bans to a number of European summer destinations, for example, outbound air travel web search volumes recently exceeded precrisis levels by more than 20 percent in some countries.

The case of Greece helps illustrate the importance of clear and consistent communication. Greece was one of the first EU countries to announce the date of, and conditions and protocols for, border reopening. Since that announcement, Greece’s disease incidence has remained steady and there have been no changes to the announced protocols. The result: our joint research with trivago shows that Greece is now among the top five summer destinations for German travelers for the first time. In July and August, Greece will reach inbound airline ticketing levels that are approximately 50 percent of that achieved in the same period last year. This exceeds the rate in most other European summer destinations, including Croatia (35 percent), Portugal (around 30 percent), and Spain (around 40 percent). 6 Based on IATA Air Travel Pulse by McKinsey. In contrast, some destinations that have had inconsistent communications around the time frame of reopening have shown net cancellations of flights for June and July. Even for the high seasons toward the end of the year, inbound air travel ticketing barely reaches 30 percent of 2019 volumes.

Digital solutions can be an effective tool to bridge communication and to create consistency on protocols between governments and the private sector. In China, the health QR code system, which reflects past travel history and contact with infected people, is being widely used during the reopening stage. Travelers have to show their green, government-issued QR code before entering airports, hotels, and attractions. The code is also required for preflight check-in and, at certain destination airports, after landing.

4. Enabling a digital and analytics transformation within the tourism sector

Data sources and forecasts have shifted, and proliferated, in the crisis. Last year’s demand prediction models are no longer relevant, leaving many destinations struggling to understand how demand will evolve, and therefore how to manage supply. Uncertainty over the speed and shape of the recovery means that segmentation and marketing budgets, historically reassessed every few years, now need to be updated every few months. The tourism sector needs to undergo an analytics transformation to enable the coordination of marketing budgets, sector promotions, and calendars of events, and to ensure that products are marketed to the right population segment at the right time.

Governments have an opportunity to reimagine their roles in providing data infrastructure and capabilities to the tourism sector, and to investigate new and innovative operating models. This was already underway in some destinations before COVID-19. Singapore, for example, made heavy investments in its data and analytics stack over the past decade through the Singapore Tourism Analytics Network (STAN), which provided tourism players with visitor arrival statistics, passenger profiling, spending data, revenue data, and extensive customer-experience surveys. During the COVID-19 pandemic, real-time data on leading travel indicators and “nowcasts” (forecasts for the coming weeks and months) could be invaluable to inform the decisions of both public-sector and private-sector entities.

This analytics transformation will also help to address the digital gap that was evident in tourism even before the crisis. Digital services are vital for travelers: in 2019, more than 40 percent of US travelers used mobile devices to book their trips. 7 Global Digital Traveler Research 2019, Travelport, marketing.cloud.travelport.com; “Mobile travel trends 2019 in the words of industry experts,” blog entry by David MacHale, December 11, 2018, blog.digital.travelport.com. In Europe and the United States, as many as 60 percent of travel bookings are digital, and online travel agents can have a market share as high as 50 percent, particularly for smaller independent hotels. 8 Sean O’Neill, “Coronavirus upheaval prompts independent hotels to look at management company startups,” Skift, May 11, 2020, skift.com. COVID-19 is likely to accelerate the shift to digital as travelers look for flexibility and booking lead times shorten: more than 90 percent of recent trips in China  were booked within seven days of the trip itself. Many tourism businesses have struggled to keep pace with changing consumer preferences around digital. In particular, many tourism SMEs have not been fully able to integrate new digital capabilities in the way that larger businesses have, with barriers including language issues, and low levels of digital fluency. The commission rates on existing platforms, which range from 10 percent for larger hotel brands to 25 percent for independent hotels, also make it difficult for SMEs to compete in the digital space.

Governments are well-positioned to overcome the digital gap within the sector and to level the playing field for SMEs. The Tourism Exchange Australia (TXA) platform, which was created by the Australian government, is an example of enabling at scale. It acts as a matchmaker, connecting suppliers with distributors and intermediaries to create packages attractive to a specific segment of tourists, then uses tourist engagement to provide further analytical insights to travel intermediaries (Exhibit 3). This mechanism allows online travel agents to diversify their offerings by providing more experiences away from the beaten track, which both adds to Australia’s destination attractiveness, and gives small suppliers better access to customers.

Government-supported platforms or data lakes could allow the rapid creation of packages that include SME product and service offerings.

Governments that seize the opportunity to reimagine tourism operations and oversight will be well positioned to steer their national tourism industries safely into—and set them up to thrive within—the next normal.

Download the article in Arabic  (513KB)

Margaux Constantin is an associate partner in McKinsey’s Dubai office, Steve Saxon is a partner in the Shanghai office, and Jackey Yu  is an associate partner in the Hong Kong office.

The authors wish to thank Hugo Espirito Santo, Urs Binggeli, Jonathan Steinbach, Yassir Zouaoui, Rebecca Stone, and Ninan Chacko for their contributions to this article.

Explore a career with us

Related articles.

Make it better, not just safer: The opportunity to reinvent travel

Make it better, not just safer: The opportunity to reinvent travel

Hospitality and COVID-19: How long until ‘no vacancy’ for US hotels?

Hospitality and COVID-19: How long until ‘no vacancy’ for US hotels?

A new approach in tracking travel demand

A new approach in tracking travel demand

Global Market Size of Travel and Tourism (2017-2021, $ Billion) Share Share on Twitter Share on LinkedIn Industry: Travel services Current: Market Sizing & Shares The market size of the travel and tourism sector globally reached a value of $631 billion in 2021 The travel and tourism market globally grew by 43% in 2021 as the sector witnessed a recovery in the demand Key travel destinations among travelers globally include Machu Picchu, Galapagos Islands, Cusco City, Dubai, Thailand, Vietnam, Hong Kong, France, Italy, Istanbul, and Easter Island !function(){"use strict";window.addEventListener("message",(function(e){if(void 0!==e.data["datawrapper-height"]){var t=document.querySelectorAll("iframe");for(var a in e.data["datawrapper-height"])for(var r=0;r Global Market Size of Travel and Tourism: Industry Overview

Travel and Tourism is one of the key sectors that play a pivotal role in any Country’s Economy and make a significant contribution to the country’s GDP. This growth in travel and tourism activities globally has led to the rise of travel intermediaries and forms an important part of selling travel products to customers.

The market size of the travel and tourism sector globally reached a value of $631 billion in 2021. In recent years, the rise in the number of online travel intermediaries was aided by the growth in the number of internet users along with the demand for convenience among travelers further supported the rise in the market for online travel Intermediaries.

The travel and tourism market globally grew by 43% in 2021 as the sector witnessed a recovery in the demand after easing the restrictions which were placed on account of the Outbreak of the pandemic COVID-19 and online travel intermediaries’ sharp rise in travel products as the consumers planned their travel activities after the gap of close to two years.

Meanwhile, the growth which the travel and tourism sector was going to see was reversed as the Outbreak of the COVID-19 pandemic completely devastated the industry in 2020. During the year 2020, the market value of travel and tourism globally saw a de-growth of a whopping 62%, and the sectors allied with the industry were severely impacted.

Key travel destinations among travelers globally include Machu Picchu, Galapagos Islands, Cusco City, Dubai, Thailand, Vietnam, Hong Kong, France, Italy, Istanbul, and Easter Island.

The travel and tourism market across global grew at a compound annual growth rate of negative 13% during the period 2017-2021. The global travel industry along with its allied sectors saw a slump in market value with the pandemic in 2020. Prior, to 2020, the industry was also witnessing slow growth due to low economic growth.

The major companies that have a strong presence in the travel and tourism global market include BCD Travel, Expedia , and Booking.com.

Related Data & Insights

Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.

Access more premium companies when you subscribe to Explorer

Get in touch about GlobalData Company reports

Contact the team or request a demo to find out how our data can drive your business forward

  • Student Outreach
  • Research Support
  • Executive Education
  • News & Announcements
  • Jobs & Opportunities
  • Annual Reports
  • Faculty Working Papers
  • Building State Capability
  • Colombia Education Initiative
  • Evidence for Policy Design
  • Reimagining the Economy
  • Social Protection Initiative
  • Past Programs
  • Speaker Series
  • Global Empowerment Meeting (GEM)
  • NEUDC 2023 Conference

tourism industry net worth

Tourist Spending Insights Provide Unprecedented View of Global Tourism

In this section.

Authors: Frank Neffke, Sid Ravinutala, and Bruno Zuccolo

Tourism is an important sector in the global economy. Today, 10.4% of the world’s GDP and 7% of the world’s total exports come from tourism. The industry is worth over US$ 1.1 trillion. The money earned from expenditures by foreigners are crucial drivers of economic development and can be an important source of foreign exchange. Moreover, growing tourism can help create employment opportunities for marginalized populations.

However, due to a lack of data, we have only a limited understanding of tourism’s role in the global economy: Which countries do the visitors who spend the most come from? What are the most visited places? What types of businesses do tourists spend their money on? The Center for International Development (CID) is collaborating with the Mastercard Center for Inclusive Growth to better understand these issues and explore tourism’s impact on economies across the world. Through the collaboration, CID researchers have been able to use anonymized and aggregated transaction data 1 to study foreign tourist spending 2 patterns in 40 countries from 2011 to 2016, including most of Europe, the United States, and select countries in South America and Oceania. These destinations account for over 60% of all tourism in the world.

International tourism revenue - Country rankings

International tourism revenue, 2020:.

Credit Card Discount of 1000$ on all Report Purchases | Use Code : FLAT1000 at checkout

  • USA: +1 518 282 4727
  • Travel and Tourism Market

Email

Travel and Tourism Market - Forecast(2024 - 2030)

  • $ 4500 Single User License ?
  • $ 5900 Corporate User License ?
  • Report Description
  • Table of Contents
  • Inquiry Before Buying
  • Request Sample
  • Schedule a Call

Travel and Tourism Market Overview

Report coverage, key takeaways.

  • On average, each US airline leaves as much as $1.4 billion in annual sales on the table by not making changes to their customer service, according to Forrestor Analysis (CX). 
  • Airlines are changing the curb-to-gate-to-destination passenger experience with exponential innovations thus expanding their revenue streams.
  • Increasing Spending of the Middle-Class Population will create new opportunities, especially in the APAC market.
  • Escalating the Popularity of Solo Travel is creating new opportunities for travel and tourism companies to target.

Travel and Tourism Market Segment Analysis - By Type

Travel and tourism market segment analysis - by travel model, travel and tourism market segment analysis - by geography, travel and tourism market drivers, growing trend of eco-tourism, increasing focus on new experiences, travel and tourism market challenges, economic slowdown due to covid-19, travel and tourism market landscape, acquisitions/technology launches/partnerships.

  • In 2016, Alaska Airlines acquired Virgin America for a purchase price of $2.6 billion. This acquisition gave Alaska Airlines an expanded West Coast presence, a larger customer base, and an enhanced platform for growth.
  • In February 2019, Best Western Hotels & Resorts announced its acquisition of global hotel and resort collection WorldHotels.

Not finding what you need?

Let me help you find the right report

Forbes Global 2000: The World’s Largest Hotel, Restaurant And Leisure Companies

  • Share to Facebook
  • Share to Twitter
  • Share to Linkedin

The onset of the pandemic was an unforeseen catastrophe for the global tourism industry. So, it should come as little surprise that most of the biggest names in the hotel and cruise ship sectors plummeted hundreds of places in  Forbes’  annual ranking of the world’s largest public companies.  

Marriott fell more than 400 spots in the new Global 2000 list, down to No. 868. Hilton dropped more than 700 spots to No. 1541. Carnival fell from the top 500 last year to No. 1,114 this year. Royal Caribbean, MGM Resorts and Las Vegas Sands didn’t fare any better, plunging on our rankings, which are based on a composite score from equally weighted measures of revenue, profits, assets and market value. 

The worst of the pandemic is likely in the rearview mirror for hotel chain Marriott. (Photo by Noam Galai/Getty Images)

“COVID-19 has impacted our business to an extent we never imagined,” Marriott president Stephanie Linnartz said in the firm’s latest earnings call. She went on to describe 2020 as “by far the most challenging year in our company’s history.” 

The latest earnings reports from across the industry reveal the extent of the damage. Marriott reported a net loss of $128 million on nearly $2.2 billion in revenue during the final nine months of 2020, a far cry from net income of $274 million on revenue of $5.4 billion during the same stretch in 2019. The numbers were even starker in the cruise industry. Royal Caribbean reported a net loss of $5.8 billion during 2020 after bringing in $1.9 billion in income during 2019.  

Yet the worst damage is almost certainly in the rearview mirror. Economic forecasts in the tourism industry are turning optimistic, thanks to steadily increasing vaccination rates and an eagerness among consumers to return to something approaching normalcy. Carnival, for instance, reported that its booking volumes in the first quarter of 2021 were 90% higher than in the final quarter of 2020.   

In terms of plotting a course to recovery, though, investors seem more optimistic about hotel companies than their cruise-ship counterparts. Marriott, Hilton and MGM Resorts have all seen their share prices ascend to decade-highs during recent weeks. Shares of Carnival and Royal Caribbean, meanwhile, are both still trading at a discount of at least 35% compared to their highs in January 2020.  

Elsewhere in the hotels, restaurants and leisure sector, major changes brought by the pandemic are also the driving force behind three new arrivals on this year’s Global 2000.  

Casino and gaming companies Flutter Entertainment, Evolution Gaming and Penn National Gaming have all benefited from a recent boom in online gambling activity, one chalked up in part to one of the same factors driving an ongoing surge in day-trading—namely, the sudden emergence of a bunch of pent-up, bored people sitting at home with nothing to do.  

FanDuel's owner made it onto the Global 2000 this year. (Photo by Ron Vesely/Getty Images)

Flutter is an Irish company formed in 2016 through the merger of Paddy Power and Betfair. Today, its brands also include FanDuel and PokerStars. After more than doubling its revenue between 2019 and 2020, it debuts at No. 1,180 on this year’s list. Evolution, which specializes in online casino offerings, lands at No. 1,635 after upping its revenue by 53% and its profit by 90%.   

“We end an eventful 2020 on a high note,” Evolution CEO Martin Carlesund said when the company released its year-end financial update, striking a very different note than Linnartz of Marriott. “I am particularly pleased that we continue to see positive momentum in player numbers and engagement levels.” 

While tourism companies tumbled down the Global 2000 rankings and online gambling companies shot up the list, some of the biggest fast-food brands in the world were content to tread water. The pandemic has led to mass closures and layoffs across much of the restaurant industry, but names like McDonald’s, YUM! Brands and Chipotle were able to avoid the worst of the damage by pivoting their focus to drive-thru and delivery orders.   

McDonald’s sits at No. 201 on this year’s list, the highest spot of any company in the hotels, restaurants and leisure sector. Annual revenue was down 14% from the year prior in 2020. But that’s looking like a bump in the road: McDonald’s sales in the first quarter of 2021 surpassed figures from the first quarter of 2019.    

In addition to its recent investments in tech and a new embrace of delivery and online ordering, CEO Chris Kempczinski cited the company’s franchise-based model as a reason for its resilience in its latest earnings call. 

“It’s hard to imagine how we would have adapted to the constantly changing circumstances of the past year if we were not a locally owned, locally managed system, rooted in the communities where we operate,” he said. 

The pandemic deeply impacted the restaurant industry. (Photo by Beata Zawrzel/NurPhoto via Getty Images)

Kevin Dowd

  • Editorial Standards
  • Reprints & Permissions
  • #SportsTourismStrong
  • Amateur Sports
  • Award Winner
  • Best Practices
  • Certificate Playbook
  • Certified Sports Event Executive (CSEE)
  • Chief Executive Summit
  • Community Relations
  • Economic Impact
  • Event Impact Calculator
  • Event Webinars
  • Hall of Fame
  • Hall of Fame Inductees
  • Member Awards
  • Mentor Tips
  • Power Plays
  • Press Releases
  • Professional Development
  • PUSH Magazine
  • Sponsorship
  • Sports Events and Tourism Association
  • Sports Events and Tourism Industry
  • Sports Events Entertainment Network (SEEN)
  • Sports Facilities Summit
  • Sports Legacy Fund
  • Sports Tourism Learning Institute
  • Sports Tourism Strategist
  • SportsBIZ XChange
  • State Association
  • Women's Summit
  • Young Professionals
  • Youth Sports

State of the Industry Report for the $91.8 Billion Sport Tourism Industry

Sports ETA SOTI_4.22.22_Designed[62]_Page_01

Contact: Jackie Reau Game Day (513) 708-5822 [email protected]

Note to media: To request a full report or to email Al Kidd, President & CEO of Sports ETA, please contact Jackie Reau.

Sports ETA releases its “State of the Industry” Report  for the $91.8 Billion Sport Tourism Industry

FORT WORTH, TEXAS (May 3, 2022) – Sports ETA, the only trade association for the sports events and tourism industry, released its annual State of the Industry Report for 2021 resulting in the sports tourism sector’s direct spending impact of $39.7 billion which generated a total economic impact of $91.8 billion, supporting 635,000 full-time and part-time jobs and generating $12.9 billion in taxes.

tourism industry net worth

The association’s last research report, “2019 State of the Sports Tourism Industry Report in America presented by the Sports Events and Tourism Association in partnership with the Northstar Meetings Group” was released in 2020 to benchmark 2019, and concluded that U.S. sports-related travelers, event organizers and venues spent a total of $45.1 billion in 2019, an increase of over five percent from the previous year. Those travelers generated $103.3 billion in direct, indirect and induced business sales.

The study was led by Dr. Jennifer Stoll, who leads research efforts for Sports ETA, in partnership with Northstar Meetings Group, the leading multi-platform brand for dedicated meeting and business planners and sports event organizers, and the presenting sponsor of the association’s “Annual State of the Industry” research report.

The analysis draws on the following data sources to quantify sports tourism, which includes adult and youth amateur events and collegiate tournaments (The economic impact analyses conducted within the report exclude professional sports and collegiate regular-season games.):

  • Sports ETA: destination membership survey data
  • Longwoods International: traveler survey data, including spending and visitor profile characteristics for sports tourism nationwide
  • Bureau of Economic Analysis and Bureau of Labor Statistics: employment and wage data, by industry
  • Bureau of Transportation Statistics: U.S. domestic average itinerary fares
  • U.S. Travel Association: domestic travel data
  • STR: lodging data
  • Sports attendance data

“Our annual State of the Industry report shows that the sport tourism industry has an economic impact of $91.8 Billion supporting 635,000 jobs in our member communities across America,” said Al Kidd , President & CEO of Sports ETA.

Additional major findings in the 2021 State of the Industry Report include:

  • In 2020, the COVID-19 pandemic cancelled or delayed sports events across the country and those events that took place had fewer spectators per participant. Ultimately, the number of sports travelers decreased 46.5% year-over-year to 96 million in 2020. The sector rebounded quickly in 2021 increasing 82.0% year-over-year. The 175 million sports travelers in 2021 was only 2.6% lower than the high-water mark established in 2019.
  • Sports travelers, event organizers, and venues spent $9.7 billion on transportation, $8.4 billion on lodging, and $7.5 billion on food and beverages. Recreation, retail, and tournament operations rounded out spending, registering $5.3 billion, $5.0 billion, and $3.7 billion, respectively. The lodging sector accounted for 21% of all sports-related travel spending. In 2021, sports-related travel generated 66.5 million room nights, which is an important factor given that hotel taxes are a primary funding source for many entities.

View the 2021 State of the Industry Report .

About Sports ETA:

As the only trade association for the sports events and tourism industry, Sports ETA is the most trusted resource for sports commissions, destination marketing organizations (DMOs), and sports event owners. Sports ETA is committed to the success of more than 600 member organizations and 2,500 sports event professionals. We promise to deliver quality education, ample networking opportunities and exceptional event management and marketing know-how to our members and to protect the integrity of the sports events and tourism industry.  For more information, visit  SportsETA.org .

Post Comment

Corporate sponsors.

Fort Worth Sports Commission

  • The Economy
  • Personal Finance
  • Social Issues
  • Investments
  • Monetary Policy
  • Real Estate
  • Cryptocurrencies
  • Professional Services
  • Personal Loans
  • Bad Credit Loans
  • Student Loans
  • Small Business Loans
  • Life Insurance
  • Health Insurance
  • Disability Insurance
  • Renters Insurance
  • Homeowner Insurance
  • Business Insurance
  • Auto Insurance
  • Our Services

Do you want to republish our data visualizations and/or articles?

Mapping the Tourism Industry Around the World

  • Visualizations

Despite signs of a global economic slowdown, it seems that there is no stop on tourism growth . For many individuals, traveling is an ideal way to experience new cultures, meet new people, and broaden horizons. At the same time, tourism is a major component of the economy for many countries. Our new visualization takes a look at which countries reap the greatest benefits from tourist spending.

Tourism Industry

  • In 2018, the global tourism industry was worth $1.7 trillion.
  • Revenues generated from tourists have grown faster than the world economy.
  • The Asia-Pacific region saw the greatest growth in tourist spending, with a 7% increase year-over-year.
  • At $570 billion, Europe is the region with the most tourist spending in 2018.

The visualization and trends are based on a report released by the UN World Tourism Organization . The map above shows the biggest international tourism receipts (tourist spending) in 2018. Each country is proportional to the value of its tourism receipts. Countries that attract more tourism receipts (such as the U.S. and Spain) appear larger, while countries that have fewer tourism receipts (such as El Salvador) appear smaller. We also color-coded the countries by region, as shown in the map legend. All monetary values are expressed in USD.

Top 10 Tourist Destinations by Money Spent

1. United States - $214 billion 2. Spain - $74 billion 3. France - $67 billion 4. Thailand - $63 billion 5. United Kingdom - $52 billion 6. Italy - $49 billion 7. Australia - $45 billion 8. Germany - $43 billion 9. Japan - $41 billion 10. China - $40 billion

Popular tourist destinations are subject to changes due to a variety of factors. Notably, media trends have surged to shape the new attractive destinations for tourists. For example, the UK city of Birmingham has seen a dramatic increase in tourism due to the popularity of the British drama “Peaky Blinders,” which takes place in the Midlands city. In addition, the political situation within a city can play a major role on its tourist performance, as shown by the negative effects that political protests have had on Hong Kong’s tourism industry. While developed countries in the West tend to have the highest tourist spending, developing countries like India are also gaining a larger share of tourism dollars. It is yet to be seen how fast-developing countries will reshape the tourist landscape in the future.

Finally, not everybody is happily welcoming tourists in their home city and concerns about overtourism abound. Being a courteous traveler and respecting the local culture will go a long way toward providing not only economic benefits to different countries, but also fostering international goodwill.

What country is next on your travel list? Please let us know in the comments.

About the article

Subscribe to our newsletter.

E-mail me the best content from Howmuch.net

tourism industry net worth

Buy a poster

Thanks for your interest in purchasing a high-quality poster of this visualization. These will be for sale soon. We will email you when we're ready, just drop your address in the box.

Commercial Use

If you'd like to use our visualization in books, magazines, reports, educational materials, etc. we can issue a permission document, granting non-exclusive rights to reproduce, store, publish, & distribute.

From $999 per visualization.

Send requests to: [email protected]

Non-Commercial Use

Want to use our visualization online, including on open publications like blogs, news sites, etc.?

  • Give us credit as your source, "HowMuch.net, a financial literacy website"
  • Copy this link to your website (Image is included here)

Explore Jobs

  • Jobs Near Me
  • Remote Jobs
  • Full Time Jobs
  • Part Time Jobs
  • Entry Level Jobs
  • Work From Home Jobs

Find Specific Jobs

  • $15 Per Hour Jobs
  • $20 Per Hour Jobs
  • Hiring Immediately Jobs
  • High School Jobs
  • H1b Visa Jobs

Explore Careers

  • Business And Financial
  • Architecture And Engineering
  • Computer And Mathematical

Explore Professions

  • What They Do
  • Certifications
  • Demographics

Best Companies

  • Health Care
  • Fortune 500

Explore Companies

  • CEO And Executies
  • Resume Builder
  • Career Advice
  • Explore Majors
  • Questions And Answers
  • Interview Questions

25 Hotel Industry Statistics [2023]: Hotel Rate Trends And Market Data

tourism industry net worth

  • Wedding Industry Statistics
  • Yoga Industry Statistics
  • Music Industry Statistics
  • Landscaping Industry Statistics
  • Bicycle Industry Statistics
  • Coffee Industry Statistics
  • Car Rental Industry Statistics
  • Home Improvement Industry Statistics
  • Insurance Industry Statistics
  • Supplements Industry Statistics
  • Golf Industry Statistics
  • Fitness Industry Statistics
  • US Media And Entertainment Industry Statistics
  • Firearm Industry Statistics
  • Financial Services Industry Statistics
  • Health And Wellness Industry Statistics
  • Trucking Industry Statistics
  • Wine Industry Statistics
  • Pet Industry Statistics
  • Mobile App Industry Statistics
  • Digital Marketing Industry Statistics
  • Hotel Industry Statistics
  • Retail Statistics
  • Robotics Industry Statistics
  • Jewelry Industry Statistics
  • Appointment Scheduling statistics
  • Restaurant Industry Statistics
  • Food Delivery Statistics
  • Food Truck Industry
  • Fashion Industry
  • Real Estate Industry
  • US Film Industry
  • US Beverage Industry
  • USu202fFast Food Restaurants
  • US Construction Industry
  • US Book Industry
  • Cosmetics Industry
  • US Food Retail Industry
  • US Pharmaceutical Industry
  • US Healthcare Industry
  • Airline Industry
  • Automobile Industry
  • Transportation Industry Statistics
  • Event Industry Statistics
  • Project Management Statistics
  • Oil And Gas Industry Statistics
  • Nursing Home Statistics
  • Nursing Shortage Statistics
  • Nursing Statistics

Research Summary. The hotel industry not only reaches across the globe but also spans a wide cross-section of options ranging from budget motels to luxury resorts, making it an interesting field to study. Here are the key statistics on the hotel industry:

There are at least 187,000 hotels in the world as of 2023.

There are an estimated 17.5 million guestrooms in the world.

The global hospitality industry is worth over $4.548 trillion as of 2022.

There are about 1.6 million people employed by the U.S.’s accommodation industry.

The global travel and tourism industry was worth $4.671 trillion in 2020 , down from its $9.17 trillion value in 2019.

The average U.S. hotel occupancy rate is 64.2% as of February 2023.

1.6 million Americans are employed by the accommodation industry

Hotel Industry Statistics by Consumer Preferences

78% of millennials would rather spend their money on experiences than on things.

Hotels with a significant number of high-quality photos on their websites see a 15% increase in conversion rates.

This is compared to hotels that use few and/or low-quality photos. Including good photos of hotel rooms and amenities helps travelers know what they’re getting into and better imagine themselves there.

TripAdvisor shared that the number of photos a hotel has on its TripAdvisor profile has the most impact on traveler engagement with the listing.

More specifically, properties with at least one photo see a 138% increase in engagement and are 225% more likely to receive a booking inquiry, and those with over 100 photos see a 151% increase in engagement and are 283% more likely to receive a booking inquiry.

Europe has the highest hotel occupancy rate of any region in the world.

As of 2019, European hotels have an occupancy rate of 72.2%, meaning an average of 72.2% of all hotel rooms are occupied.

US Hotel Industry Statistics

There are 90,562 hotel and motel businesses in the U.S.

This number is a 0.4% increase from 2021, which is on trend with the average annual growth rate of 0.4% that this industry has seen from 2017 to 2022.

tourism industry net worth

There are approximately 5.29 million hotel rooms in the U.S.

The U.S. hotel and motel industry is worth $177.6 billion.

This industry is predicted to grow by 33.6% throughout 2022 as it continues to recover from the COVID-19 pandemic, although it’s seen an average annual decline of 2.4% from 2017 to 2022.

tourism industry net worth

The U.S. tourism industry was valued at $545.11 billion in 2020.

In 2020, U.S. hotels had an average occupancy rate of 44%.

Hotel Industry Statistics by Employment

The U.S.’s accommodation industry employs about 1.6 million people.

In Q1 2019, there were 1.352 million gross job gains in the U.S. leisure and hospitality sector.

Here are data points for each quarter from Q1 2019 through Q2 2021.

In Q1 of 2019, there were 1.22 million gross job losses in the U.S. leisure and hospitality industry.

Here are the numbers for each quarter following that through Q2 2021:

The average employee of the U.S. leisure and hospitality industry makes $19.44 an hour.

32% of U.S. leisure and hospitality industry employees have access to employer-sponsored health care.

43% get paid vacation from their employers, and 50% receive paid sick leave .

Hotel Industry Trends and Projections

In 2019, the global hotels and resorts market was worth over $1.5 trillion.

This was just before the COVID-19 pandemic caused widespread lockdowns in 2020, and it was the pinnacle of seven years of nearly continuous growth.

From 2021 to 2025, the global hotel and travel accommodation industry is projected to have a CAGR of 7%.

This will result in a market value of $1.05 trillion in 2025. In 2020, the global hotel and travel accommodation market was worth $673.02 billion, and it grew to $801.9 billion in 2021, which is a CAGR of 19.1%.

In 2020, travel and tourism contributed $4.671 trillion to the global GDP.

While this is a significant amount of money, it is also a significant decrease from the $9.17 trillion it contributed in 2019. This is a result of the 2020 COVID-19 lockdowns that significantly reduced the amount of travel in the world.

tourism industry net worth

From 2008 to 2018, the number of hotels around the world has increased by nearly 14,300.

tourism industry net worth

Hotel Industry Statistics FAQ

What is the growth rate of the hotel industry?

The growth rate of the hotel industry is 19.1%. This was the CAGR from 2020 to 2021 as the global hotel industry reopened after the COVID-19 pandemic lockdowns began to lift.

What are the four segments of the hospitality industry?

The four segments of the hospitality industry are Food and Beverage, Accommodation (also referred to as Lodging), Travel and Tourism, and Entertainment and Recreation.

You don’t necessarily have to be traveling to enjoy the hospitality industry’s offerings. The Food and Beverage sector, for example, includes restaurants , bowling alley food, and concessions stands, not just hotel restaurants. As a result, this is the largest sector of the hospitality industry.

The Accommodation or Lodging sector includes hotels, campgrounds, rental homes, and any other facility that gives people a place to sleep. This includes resorts, motels, and hostels all alike.

The Travel and Tourism sector covers the actual act of traveling via airlines, cruise ships, trains, taxis, and more. Whether you’re traveling for leisure or business, chances are you’ll utilize at least one of travel and tourism’s offerings on a trip.

The last sector of the hospitality industry is Entertainment and Recreation. This sector is made up of all the activities that people do just for the enjoyment of it. These include:

Swimming pools

Spectator sports

Movie theaters

Participatory sports (e.g., scuba diving, golf, tennis)

Amusement parks

How many American hospitality workers were fired or laid off in 2020?

10.65 million American hospitality workers were fired or laid off in 2020. While About 1.2 to 1.4 million people in this industry lost their jobs each quarter throughout 2019, 1.695 found themselves unemployed in Q1 2020, and a whopping 6.331 million were suddenly unemployed in Q2 2020 due to the COVID-19 pandemic lockdowns.

Is the hotel industry recovering?

Yes, the hotel industry is recovering. The global hotel and travel accommodation industry is expected to have a CAGR of 7% from 2021 to 2025.

What are the latest trends in the hotel industry?

The latest trends in the hotel industry are high-tech, green facilities, alternative accommodation options, and incorporating experiences into hotel stays.

Hotels are beginning to implement more and more smart technology, whether it’s a keyless entry or turning on the AC with an app. In addition, many hotels are looking for ways to reduce their carbon footprint by conserving water, reducing single-use plastics, and earning their LEED certifications.

Another hotel industry trend is that travelers (especially millennials) are looking more toward alternative accommodation options, whether that’s a rental house or villa, a mobile home, or hotels with a personality that reflect the local culture rather than standardized branding.

Hotels are responding to this by focusing on opening boutique hotels and facilities that bring unique elements to their decor, amenities, and even floor plans.

The hotel industry is a major player in the global and U.S. economies. In 2022, the global hotel industry was worth more than $4.548 trillion and is projected to see a CAGR of 7% from 2021 to 2025. In the U.S. alone, the hotel and motel industry is worth $177.6 billion, and the tourism industry is worth $545.11 billion.

Lockdowns in response to the COVID-19 pandemic in 2020 significantly impacted this industry. The worldwide travel and tourism industry contributed $4.671 trillion to the global GDP in 2020, which is just over half the amount it contributed in 2019 ($9.17 trillion).

In the U.S., over seven million leisure and hospitality industry employees lost their jobs during the first six months of 2020, compared to the just over five million that found themselves unemployed throughout all of 2019. Hotel occupancy rates also dropped by 33.3% from 2019 to 2020.

Eventbrite. “ Millennials: Fueling the Experience Economy. ” Accessed on February 16, 2022.

Medium . “ The Importance of Imagery on Hotel Websites. ” Accessed on February 16, 2022.

Frederic Gonzalo. “ Photos Impact Bookings More Than Reviews. ” Accessed on February 16, 2022.

Statista. “ Occupancy Rate of the Hotel Industry Worldwide From 2008 to 2019, by Region. ” Accessed on February 16, 2022.

IBISWorld. “ Hotels & Motels in the U.S. – Number of Businesses 2005-2027. ” Accessed on February 16, 2022.

Statista. “ Number of Hotel Rooms in the United States From 2017 to 2020, by Chain Scale Segment. ” Accessed on February 16, 2022.

IBISWorld. “ Hotels & Motels in the U.S. – Market Size 2005-2027. ” Accessed on February 16, 2022.

Statista. “ Market Size of the Tourism Sector in the United States From 2011 to 2020, with a Forecast for 2021. ” Accessed on February 16, 2022.

Statista. “ Occupancy Rate of Hotel Industry in the United States From 2001 to 2020. ” Accessed on February 16, 2022.

U.S. Bureau of Labor Statistics. “ Accommodation: NAICS 721. ” Accessed on February 16, 2022.

U.S. Bureau of Labor Statistics. “ Economic News Release: Employment Situation Summary. ” Accessed on February 16, 2022.

U.S. Bureau of Labor Statistics. “ Databases, Tables & Calculators by Subject: Gross Job Gains for the Leisure and Hospitality Sector in the U.S. (Rounded to the Nearest Thousands.) ” Accessed on February 16, 2022.

U.S. Bureau of Labor Statistics. “ Databases, Tables & Calculators by Subject: Gross Job Losses for the Leisure and Hospitality Sector in the U.S. (Rounded to the Nearest Thousands). ” Accessed on February 16, 2022.

U.S. Bureau of Labor Statistics. “ Leisure and Hospitality. ” Accessed on February 16, 2022.

IBISWorld. “ Global Hotels & Resorts – Market Size 2005-2027. ” Accessed on February 16, 2022.

Globe Newswire. “ Global Hotel and Other Travel Accommodation Market Report 2021: Market is Expected to Grow From $673.02 Billion in 2020 to $801.9 Billion in 2021 – Long-term Forecast to 2025 & 2030. ” Accessed on February 16, 2022.

Statista. “ Total Contribution of Travel and Tourism to Gross Domestic Product (GDP) Worldwide From 2006 to 2020. ” Accessed on February 16, 2022.

Statista. “ Total Number of Hotels Worldwide From 2008 to 2018. ” Accessed on February 16, 2022.

Hospitality Net. “ What Are the 4 Segments of the Hospitality Industry. ” Accessed on February 16, 2022.

Hotel Tech Report. “ 100 Hotel Trends You Need To Watch in 2022 & Beyond. ” Accessed on February 16, 2022.

How useful was this post?

Click on a star to rate it!

Average rating / 5. Vote count:

No votes so far! Be the first to rate this post.

' src=

Abby is a writer who is passionate about the power of story. Whether it’s communicating complicated topics in a clear way or helping readers connect with another person or place from the comfort of their couch. Abby attended Oral Roberts University in Tulsa, Oklahoma, where she earned a degree in writing with concentrations in journalism and business.

Recent Job Searches

  • Registered Nurse Jobs Resume Location
  • Truck Driver Jobs Resume Location
  • Call Center Representative Jobs Resume Location
  • Customer Service Representative Jobs Resume
  • Delivery Driver Jobs Resume Location
  • Warehouse Worker Jobs Resume Location
  • Account Executive Jobs Resume Location
  • Sales Associate Jobs Resume Location
  • Licensed Practical Nurse Jobs Resume Location
  • Company Driver Jobs Resume

Related posts

tourism industry net worth

40 Telling Women In Technology Statistics [2023]: Computer Science Gender Ratio

tourism industry net worth

22 Telling Employee Wellness Statistics [2023]: How Many Companies Have Wellness Programs

tourism industry net worth

33 Captivating Coworking Statistics [2023]: Facts And Trends You Need To Know

tourism industry net worth

29 Worthwhile Union Statistics [2023]: Membership, Union Vs. Non-Union Jobs, And Facts

  • Career Advice >
  • Industry Statistics >
  • Travel, Tourism & Hospitality

Travel agency industry - statistics & facts

Leading travel agencies worldwide, is the travel agency industry recovering from the impact of covid-19, key insights.

Detailed statistics

Online travel market size worldwide 2020-2030

U.S. travel agency industry market size 2012-2022

U.S. tour operator industry market size 2012-2022

Editor’s Picks Current statistics on this topic

Current statistics on this topic.

Tour Operators & Travel Agencies

Market size of the travel agency services industry worldwide 2011-2024

Online Travel Market

Revenue of leading OTAs worldwide 2019-2022

Related topics

Recommended.

  • Online travel market
  • Digitalization of the travel industry
  • Impact of technology on travel and tourism
  • Travel agencies in the United Kingdom (UK)
  • Tourism worldwide

Recommended statistics

Industry overview.

  • Premium Statistic Market size of the tourism sector worldwide 2010-2023
  • Premium Statistic Online travel market size worldwide 2020-2030
  • Premium Statistic Key information on the global travel agency industry January 2024
  • Basic Statistic Market cap of leading online travel companies worldwide 2023
  • Premium Statistic Leading online travel companies worldwide 2022-2023, by EV/EBITDA
  • Premium Statistic Leading online travel companies worldwide 2020-2022, by revenue CAGR
  • Premium Statistic Leading travel companies worldwide 2022, by sales
  • Premium Statistic Number of employees at leading travel companies worldwide 2022

Market size of the tourism sector worldwide 2010-2023

Market size of the tourism sector worldwide from 2010 to 2023 (in billion U.S. dollars)

Online travel market size worldwide from 2020 to 2022, with a forecast for 2023 and 2030 (in billion U.S. dollars)

Key information on the global travel agency industry January 2024

Key data on the travel agency industry worldwide as of January 2024

Market cap of leading online travel companies worldwide 2023

Market cap of leading online travel companies worldwide as of September 2023 (in million U.S. dollars)

Leading online travel companies worldwide 2022-2023, by EV/EBITDA

Enterprise-value-to-EBITDA (EV/EBITDA) of selected leading online travel companies worldwide in 2022, with a forecast for 2023

Leading online travel companies worldwide 2020-2022, by revenue CAGR

Revenue compound annual growth rate (CAGR) of leading online travel companies worldwide from 2020 to 2022

Leading travel companies worldwide 2022, by sales

Leading travel companies worldwide in 2022, by gross sales (in billion U.S. dollars)

Number of employees at leading travel companies worldwide 2022

Number of employees at selected leading travel companies worldwide in 2022

Online travel agencies (OTAs)

  • Premium Statistic Revenue of leading OTAs worldwide 2019-2022
  • Basic Statistic Revenue of Booking Holdings worldwide 2007-2023
  • Premium Statistic Revenue of Expedia Group, Inc. worldwide 2007-2023
  • Premium Statistic Airbnb revenue worldwide 2017-2023
  • Premium Statistic Total revenue of Trip.com Group 2012-2022
  • Premium Statistic Revenue of Tripadvisor worldwide 2008-2023
  • Premium Statistic Despegar: revenue 2015-2022

Leading online travel agencies (OTAs) worldwide from 2019 to 2022, by revenue (in million U.S. dollars)

Revenue of Booking Holdings worldwide 2007-2023

Revenue of Booking Holdings worldwide from 2007 to 2023 (in billion U.S. dollars)

Revenue of Expedia Group, Inc. worldwide 2007-2023

Revenue of Expedia Group, Inc. worldwide from 2007 to 2023 (in billion U.S. dollars)

Airbnb revenue worldwide 2017-2023

Revenue of Airbnb worldwide from 2017 to 2023 (in billion U.S. dollars)

Total revenue of Trip.com Group 2012-2022

Total revenue of Trip.com Group Ltd. in China from 2012 to 2022 (in billion yuan)

Revenue of Tripadvisor worldwide 2008-2023

Revenue of Tripadvisor, Inc. worldwide from 2008 to 2023 (in million U.S. dollars)

Despegar: revenue 2015-2022

Revenue of Despegar.com, Corp. from 2015 to 2022 (in million U.S. dollars)

Travel websites and apps

  • Premium Statistic Most popular travel and tourism websites worldwide 2024
  • Premium Statistic Total visits to travel and tourism website booking.com worldwide 2021-2024
  • Premium Statistic Total visits to travel and tourism website tripadvisor.com worldwide 2020-2024
  • Premium Statistic ACSI - U.S. customer satisfaction with online travel websites as of 2023
  • Premium Statistic Most downloaded travel apps worldwide 2022, by aggregated downloads
  • Premium Statistic Most downloaded online travel agency apps worldwide 2022, by aggregated downloads

Most popular travel and tourism websites worldwide 2024

Most visited travel and tourism websites worldwide as of January 2024 (in million visits)

Total visits to travel and tourism website booking.com worldwide 2021-2024

Estimated total number of visits to the travel and tourism website booking.com worldwide from December 2021 to January 2024 (in millions)

Total visits to travel and tourism website tripadvisor.com worldwide 2020-2024

Estimated total number of visits to the travel and tourism website tripadvisor.com worldwide from August 2020 to January 2024 (in millions)

ACSI - U.S. customer satisfaction with online travel websites as of 2023

U.S. customer satisfaction with online travel websites from 2000 to 2023 (index score)

Most downloaded travel apps worldwide 2022, by aggregated downloads

Most downloaded travel apps worldwide in 2022, by aggregated number of downloads (in millions)

Most downloaded online travel agency apps worldwide 2022, by aggregated downloads

Most downloaded online travel agency apps worldwide in 2022, by aggregated number of downloads (in millions)

Travel agencies and tour operators

  • Premium Statistic U.S. travel agency industry market size 2012-2022
  • Premium Statistic U.S. tour operator industry market size 2012-2022
  • Premium Statistic Revenue of TUI AG worldwide 2004-2023
  • Premium Statistic Leading travel agents ranked by number of outlets in the UK 2024
  • Premium Statistic Leading ATOL-licensed tour operators in the UK 2024, by passengers licensed
  • Premium Statistic Revenue of Hays Travel Limited in the UK 2008-2022

Market size of the travel agency sector in the United States from 2012 to 2022 (in billion U.S. dollars)

Market size of the tour operator sector in the United States from 2012 to 2022 (in billion U.S. dollars)

Revenue of TUI AG worldwide 2004-2023

Revenue of TUI AG worldwide from 2004 to 2023 (in billion euros)

Leading travel agents ranked by number of outlets in the UK 2024

Leading travel agencies in the United Kingdom (UK) as of February 2024, by number of travel shops

Leading ATOL-licensed tour operators in the UK 2024, by passengers licensed

Leading ATOL-licensed tour operators in the United Kingdom as of February 2024, ranked by number of passengers licensed

Revenue of Hays Travel Limited in the UK 2008-2022

Revenue of Hays Travel Limited in the United Kingdom (UK) from 2008 to 2022 (in million GBP)

Cruise companies

  • Premium Statistic Worldwide cruise company market share 2022
  • Premium Statistic Revenue of Carnival Corporation & plc worldwide 2008-2023
  • Premium Statistic Revenue of Royal Caribbean Cruises worldwide 1988-2023
  • Premium Statistic TUI cruise brand revenue worldwide 2015-2023, by brand
  • Premium Statistic Revenue of Norwegian Cruise Line worldwide 2011-2023
  • Premium Statistic COVID-19 impact on revenue of leading cruise companies worldwide 2020-2022

Worldwide cruise company market share 2022

Worldwide market share of leading cruise companies in 2022

Revenue of Carnival Corporation & plc worldwide 2008-2023

Revenue of Carnival Corporation & plc worldwide from 2008 to 2023 (in billion U.S. dollars)

Revenue of Royal Caribbean Cruises worldwide 1988-2023

Revenue of Royal Caribbean Cruises Ltd. worldwide from 1988 to 2023 (in billion U.S. dollars)

TUI cruise brand revenue worldwide 2015-2023, by brand

Revenue of TUI cruise brands worldwide from 2015 to 2023, by brand (in million euros)

Revenue of Norwegian Cruise Line worldwide 2011-2023

Revenue of Norwegian Cruise Line Holdings Ltd. worldwide from 2011 to 2023 (in billion U.S. dollars)

COVID-19 impact on revenue of leading cruise companies worldwide 2020-2022

Percentage change in revenue of leading cruise companies worldwide during the coronavirus (COVID-19) pandemic from 2020 to 2022

Further reports Get the best reports to understand your industry

Get the best reports to understand your industry.

Mon - Fri, 9am - 6pm (EST)

Mon - Fri, 9am - 5pm (SGT)

Mon - Fri, 10:00am - 6:00pm (JST)

Mon - Fri, 9:30am - 5pm (GMT)

2024 travel trends: what the experts predict

A look at the travel trends and destinations set to drive the tourism industry

  • Newsletter sign up Newsletter

The year of 'surprise travel'?

  • Lonely Planet's Best in Travel

Set-jetting continues to take off

Music tourism 'accelerates', palate-led holidays and uk getaways, cultural exploration and quaint cities, journeys with 'a sense of purpose'.

  • Michelin Guide 'keys'

Fodor's 2024 'No List'

Sign up to The Week's Travel newsletter for destination guides and the latest trends.

'More and more surprise trip companies have popped up' 

"Surprise travel" may become the big trend of 2024, said David Farley on the  BBC . A survey of 27,000 travellers in 33 countries by  Booking.com  found that 52% are "keen" to book a surprise trip where "everything down to the destination is unknown until arrival". In the last decade, "more and more surprise trip companies have popped up", Farley added, and the "element of mystery" is "tempting travellers to seek a new way to see the world".

Mongolia and Nairobi included in Lonely Planet's Best in Travel

Mongolia is tipped as one of the top countries to visit 

In its "Best in Travel" report for 2024, Lonely Planet has predicted the world's top 50 countries, regions, cities, best value and most sustainable destinations. Looking at the top places to "unwind, connect, eat, learn and journey", there's "plenty to pack in" over the next year. Destinations highlighted in the report include Mongolia (country), Western Balkans' Trans Dinarica Cycling Route (region), Nairobi in Kenya (city), Spain (sustainable) and The Midwest, USA (best value).

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

The new season of 'Emily in Paris' will inspire travel to the French capital

Travellers turning to their TV sets and movie screens for inspiration "shows no signs of stopping in 2024", said Expedia Group . In its "Unpack '24: The Trends in Travel" survey, more than half of travellers have researched or booked a trip to a destination "after seeing it on a TV show or movie", and one in four admit that TV shows and films "are even more influential on their travel plans than they were before". In fact, travellers say TV shows influence their travel decisions more than Instagram, TikTok and podcasts. 

In its "set-jetting forecast", the group predicts the "entertainment-inspired destinations" tourists will be heading to in 2024. The top picks include Thailand, inspired by "The White Lotus" season three; Romania, inspired by "Wednesday" season two; Malta, inspired by the new "Gladiator 2" film; and Paris, inspired by "Emily in Paris" season four. 

Taylor Swift performs at Lumen Field, Seattle, on the Eras Tour

Travel technology company Amadeus has released its fourth travel trends report. Using the latest data and industry-leading insight, travel in 2024 will be dominated by five trends: music tourism, business class fares unbundled, influencers becoming agents, artificial intelligence matures, and electric vertical take-off and landing (eVTOL) aircraft prepare for take-off. 

Music tourism is a trend that's expected to "accelerate" in 2024, Amadeus said. After the social isolation of the pandemic, when bands and musical artists were "grounded for months", a "boom" in concerts and festivals in 2023 tapped into "a desire for connection". When Taylor Swift announced her Asia Pacific tour dates for 2024, Amadeus research suggested that Swift's concert dates in Australia, Singapore and Japan had a "significant impact on travel searches and booking volumes to the countries".  

Lucknam Park Hotel & Spa in Wiltshire is part of the PoB Hotels collection  

PoB Hotels ' "Cultivating Luxury" market trends report found that palate-led holidays and increased domestic getaways in the UK were among the key findings for 2024. Food and drink "undeniably take centre stage" in "capturing the attention" of domestic travellers, commanding an impressive 82% of their interests. A significant 54% of affluent high net worth individuals (HNWIs) plan to enjoy "three or more" leisure holidays within the UK in the upcoming year, reflecting a "notable increase on the previous 12 months". And a considerable 27% of affluent/HNW travellers anticipate taking UK trips "lasting three or more nights" in the coming year. 

Bydgoszcz in Poland is one of the 'quaint cities' attracting interest  

"Cultural exploration" will "more than ever" be a priority for travellers, Skyscanner said in its 2024 travel trends report. Expect "gig trippers" to jet off to see their favourite artists and "budget bougie foodies" to seek out the very best food experiences. When it comes to the destinations that are whetting would-be tourists' appetites, the metasearch engine and travel agency has seen an increase in searches for "quaint cities" such as Vigo in Spain (+1,235%) and Bydgoszcz in Poland (+313%). Meanwhile, the cost-of-living crisis remains "top of mind" with Skyscanner's "Everywhere" search tool being the "top search destination for travellers globally". 

'Off-grid' Peru is on Black Tomato's 2024 destination hotlist 

The founders of luxury travel company Black Tomato predict that travellers will be looking to journey with "a sense of purpose" in 2024. With ever increasing demands on time, and the desire to make travel truly count, travellers want to create "positive and lasting change" – not only in the destinations they visit, but in their own lives. 

"What we've uncovered," said Black Tomato, is that the feeling a trip ultimately evokes "greatly informs the destination booked". For groups "craving togetherness", journeys which "strengthen bonds and connection" are "prioritised". Black Tomato has picked out "off-grid" Peru, Morocco's Tangiers, the Mitre Peninsula in remotest Argentine Patagonia, and New Zealand's waterways on its 2024 destination hotlist.

The new Michelin Guide 'keys'

Which hotels will get a Michelin key? 

The Michelin Guide will award hotels with "keys" as part of a "new rating system" launching in 2024, said the Visit California PR Pulse Report. The system will be aimed at recognising hotels based on factors including "location, design, service, uniqueness and value". As it does for restaurants, the guide said it intends to independently recommend hotels that "constitute true destinations" and will propose a new selection of more than "5,000 remarkable hotels in 120 countries".

Venice is one of the destinations that has been impacted by overtourism

Most travel experts recommend places to go in their annual reports, but Fodor's has a "No List" of nine regions to "reconsider" in 2024. The travel guide company said it's not a "round-up of spots we revile", it's a "declaration of places we revere". However, the "frenzied admiration", and "incessant need to experience them", are "not sustainable". 

The 2024 No List focuses on three main areas of tourist impact: overtourism, rubbish production, and water quality and sufficiency. For overtourism, Venice in Italy, Athens in Greece, and Mount Fuji in Japan are highlighted. Rubbish production no-gos include San Gabriel Mountains National Monument in California, Ha Long Bay in Vietnam, and the Atacama Desert in Chile. While water quality and sufficiency has impacted Lake Superior in North America, the Ganges River in India, and Koh Samui in Thailand.

Sign up for Today's Best Articles in your inbox

A free daily email with the biggest news stories of the day – and the best features from TheWeek.com

Cartoons Sunday's cartoons - behind the curtain, behind a red line, and more

By The Week US Published 24 March 24

Cartoons Artists take on passenger scrutiny, soaring profits, and more

Podcast What's behind the EU's deal with Egypt? Should we mine the seabed for minerals? And are we getting more prudish about movies?

By The Week Staff Published 24 March 24

Talking Point Kick-Ass star has reportedly been offered the 007 role and he has plenty of admirers

By Adrienne Wyper, The Week UK Published 20 March 24

The Week recommends Our pick of literary favourites seen from a new perspective

The Week Recommends Celebrate nature's bounty at flower fields and festivals around the world

By Catherine Garcia, The Week US Published 15 March 24

The Week Recommends This idyllic Croatian peninsula flies under the radar

By Catherine Garcia, The Week US Published 14 March 24

Why everyone's talking about Almost a quarter of International Booker Prize longlist comes from South America, a region in turmoil

By Harriet Marsden, The Week UK Published 12 March 24

The Week Recommends From the impressionists in Paris to Indigenous art in DC

By Catherine Garcia, The Week US Published 11 March 24

The Week Recommends From Fargo to Philly, these historical and cultural hubs are thriving

By Catherine Garcia, The Week US Published 8 March 24

Under the Radar Men, women and children around the world are still being persecuted in these hunts

By Justin Klawans, The Week US Published 7 March 24

  • Contact Future's experts
  • Terms and Conditions
  • Privacy Policy
  • Cookie Policy
  • Advertise With Us

The Week is part of Future plc, an international media group and leading digital publisher. Visit our corporate site . © Future US, Inc. Full 7th Floor, 130 West 42nd Street, New York, NY 10036.

Statistics Explained will be under maintenance from 8pm to 11pm.Edition and login will not be available.

  • Statistical themes
  • Statistics 4 beginners
  • Eurostat home
  • Education corner
  • Regional yearbook
  • Sustainable development
  • What links here
  • Special pages

Tourism industries - economic analysis

Data extracted in March 2023

Planned article update: 29 April 2024

Number of enterprises: evolution for different sectors of the economy, 2012-2020

  • Source: Eurostat (online data code: sbs_na_sca_r2, sbs_na_1a_se_r2)

This article presents the most recent available statistics on the tourism industries in the European Union (EU) . While tourism statistics focus on either the accommodation sector (data collected from accommodation service providers) or the demand side (data collected from households), and relate mainly to physical flows (arrivals or nights spent at tourist accommodation or trips made by residents of a country), the analysis in this article is based on economic data extracted from other areas of official statistics, in particular, structural business statistics (SBS) and short-term business statistics (STS) . Thus, a more complete economic analysis of the tourism sector or tourism ecosystem can be drawn, which is an important motor for many countries' economies and labour markets.

" International Recommendations for Tourism Statistics 2008 " lists ten internationally comparable activities and two country-specific ones for the tourism sector, also called "tourism industries" or "tourism characteristic activities". This article focuses on a subset of these that has relevance for the EU (the other activities proved to be of limited relevance for European tourism or have limited coverage in SBS).

The reader is strongly encouraged to consult the "Data sources" section before using the presented data, in order to avoid overestimating or underestimating the economic importance of tourism for some industries.

Full article

Key economic indicators.

The discussion below refers to four selected indicators: number of enterprises , number of persons employed , turnover and value added at factor cost – firstly at EU level, secondly at country level.

In 2020, almost one in ten enterprises in the EU non-financial business economy belonged to the tourism industries (see Table 1, Table 2). These 2.3 million enterprises employed 10.9 million persons, accounting for 8.5 % of the persons employed in the non-financial business economy and 20.6 % of persons employed in the services sector.

Table showing key economic indicators, that is, number of enterprises and persons employed, turnover and value added in euro millions for the tourism industries in the EU for the year 2020.

The tourism industries' shares of total turnover and value added at factor cost were relatively lower, with the tourism industries accounting for 2.5 % of the turnover and 3.6 % of the value added of the non-financial business economy. These figures very likely reflect - among other explanations - the higher share of micro, small and medium-sized enterprises and the level of part-time employment in many tourism industries.

As explained in the "Data sources" section, tourism industries do not provide services only to tourists. Their employment, turnover, etc., is also related to services provided to non-tourists. In Table 1 and Table 2, the subdivision "mainly tourism" and "partially tourism" takes this into account. For instance, 2.6 million persons are employed in "mainly tourism" industries (passenger air transport, accommodation services and travel agencies and tour operators) that are assumed to serve predominantly tourists, while 8.3 million persons are employed in "partially tourism" industries where the customers are likely to be a mix of tourists and non-tourists (e.g. restaurants).

Figure 1 presents the growth of the sectors from 2012 to 2020. In the period up to 2019, tourism industries (mainly and partially) showed a much stronger growth than the total economy for all indicators concerned. But in 2020, the impact of the Covid-19 pandemic caused dramatic drops of the turnover and value added of the tourism industries (-41.0 % and -40.1 % respectively, comparing 2020 with 2019). The number of persons employed in the tourism industries and the number of enterprises dropped less strongly, but still recorded levels that were respectively 2.8 % and 13.5 % lower in 2020 compared with 2019) (see Table 3).

Four separate line charts showing evolution of indicators for different sectors of the EU economy. Four charts show number of enterprises, turnover, value added and persons employed each with four lines representing total economy, services, tourism (mainly and partially) and mainly tourism over the years 2012 to 2020. The year 2012 is indexed at 100.

Analysis by subsectors

Three out of four enterprises in the tourism industries operated in accommodation (NACE I55) or food and beverage serving activities (NACE I56): 15 % and 60 %, respectively (see Table 1, Table 2, Figure 2). Looking at the number of persons employed, the weight of these activities was 77 % persons employed in the tourism industries. However, in terms of turnover and value added, their share was much lower (53 % and 54 %, respectively).

Four separate pie charts highlighting percentage share of tourism in the EU for the year 2020 compared with services other than tourism industries and business economy other than services within enterprises, turnover, value added and persons employed. Each pie chart segment of tourism is broken down into a stacked column totalling 100 percent with five stacks representing transport, accommodation, food and beverage, car and other rental and travel agency, tour operator and related activities.

The turnover of passenger transport related industries (parts of NACE H49, H50, H51) represented 24 % of the turnover for all tourism industries: 32 % of this share came from the subsector of passenger air transport (NACE H5110).

Travel agencies and tour operators (NACE N7910) and other related activities (NACE N7990) recorded a turnover of €41 billion in 2020, a decrease by €107 billion (-72 %) compared with 2019. These activities represented 7 % of the turnover in tourism industries, compared with a 4 % share in number of enterprises and employment, and a 2 % share in value added at factor cost.

Geographical analysis

More than half (54 %) of the 2.3 million enterprises in the tourism industries in the EU in 2020, were located in four Member States: 368 000 in Italy, 349 000 in France, 291 000 in Spain (not including taxi operation) and 238 000 in Germany (see Table 4).

Table showing number of enterprises in the EU, individual EU Member States, Iceland, Norway and Switzerland for the year 2020.

Looking at the available EU Member States' data, in terms of employment (see Table 5), Germany (not including passenger inter-urban rail transport) was on top with 2.0 million persons employed in the tourism industries, followed by Italy (1.5 million) and Spain (1.4 million, not including taxi operation) (note that there is no data available for France).

The highest share of employment in the tourism industries was observed in Greece (24 % of the total non-financial business economy of the country), followed by Cyprus (17 %) (note that data on total employment in the tourism industries is missing for a significant number of countries).

Table showing number of persons employed in the EU, individual EU Member States, Iceland, Norway and Switzerland for the year 2020.

The availability of country data on turnover and value added is also fragmented (see Table 6 and Table 7).

Turnover amounted to €117 billion for Germany (not including inter-urban passenger rail transport ), followed by Italy (€76 billion) and Spain (€59 billion, not including taxi operation) (note that there is no data available for France).

In terms of value added the first three countries were the same: Germany, with €56 billion (not including passenger rail transport), followed by Italy (€26 billion) and Spain (€19 billion, not including taxi operation) (note that there is no data available for France). The highest shares of value added in the tourism industries in the total non-financial business economy of the country were observed in Austria, Malta, Croatia, Cyprus and Greece (all above 4 %).

Table showing turnover or gross premiums written in euro millions in the EU, individual EU Member States, Iceland, Norway and Switzerland for the year 2020.

Infra-annual analysis

The above analysis was based on structural business statistics (SBS). While SBS is a rich and comprehensive source of information on European businesses, these statistics are only provided annually. Compared with other sectors of the economy, the tourism sector has a relatively strong seasonal component, hence the need to look at infra-annual data to complete the analysis. Short-term business statistics provide monthly and quarterly indices for a subset of tourism industries. For the analysis in this article, an aggregate was created including NACE divisions H51 (Air travel), I55 (Accommodation) and N79 (Travel agency, tour operator and other reservation service and related activities).

Figure 3 shows for the EU above mentioned tourism industries, the quarterly evolution of the turnover, seasonally adjusted or working days adjusted, for the years 2007 to 2022 (index: average 2015 = 100). The graph shows a positive trend that was interrupted from the fourth quarter of 2008 (global financial crisis) until mid-2010 when the turnover started to increase again. The upwards trend continued until spring 2020. After the travel restrictions implemented in March and April 2020 in response to the Covid-19 outbreak, the turnover of tourism industries dropped sharply in the second quarter of 2020. In spring and summer 2021 many restrictions were raised and travelling became easier. In 2022 the turnover shows clear signs of recovery, reaching and even surpassing the pre-pandemic levels.

Line chart showing turnover for tourism aggregate as quarterly data in the EU. Two lines represent calendar adjusted data, not seasonally adjusted data and seasonally and calendar adjusted data from Q1 2007 to Q4 2022. The index is set as the average for the year 2015.

The overall situation at EU level shown in Figure 3 aggregates data from countries with a very different seasonal profile. Figure 4 shows, for the years 2015 to 2022, the quarterly working days adjusted turnover for the above mentioned group of tourism industries for the countries which present the highest (Cyprus and Greece) and the lowest (Belgium and Luxembourg) seasonality in terms of turnover, as well as for the EU as a whole. Note that the atypical pattern for Luxembourg, with continued growth in 2020-2022, was mainly driven by the growth in the non-tourism related activity "freight air transport and space transport" (unpublished data).

Line chart showing turnover adjusted by working days for tourism aggregate as quarterly data of the EU countries with highest and lowest seasonality. Five lines represent the EU, Cyprus, Greece, Belgium and Luxembourg from Q1 2015 to Q4 2022. The index is set as the average for the year 2015.

Figure 5a focuses on 2022 and shows a clear recovery in the turnover in these tourism industries. At EU level, the highest increases compared with the same periods of 2021 were recorded in the first quarter, when the turnover increased by 175 % compared with the first quarter of 2021. The turnover increased also in the next quarters: +167 % in the second quarter, +57 % in the third quarter and +44 % in the fourth quarter. The big increases in the first two quarters of 2022 reflect the relatively low activity levels in the first two quarters of 2021. The lower increases in the second half of the year can be explained by the recovery starting already in 2021 (see Figure 5b). The highest increases in the second half of 2021 were Cyprus, Spain and Greece.

Vertical bar chart showing percentage change in turnover in tourism aggregate of the year 2022 compared with 2021 as quarterly data for the EU and individual EU Member States. Each country has four columns representing Q1, Q2, Q3 and Q4.

Figure 6 shows for the period January 2015 to December 2022, the monthly evolution of the working days adjusted turnover in EU accommodation, and the nights spent in tourist accommodation establishments (index: average 2015 = 100). As expected, the two series follow a similar pattern in terms of peak and trough periods; however, the variability appears to be more pronounced for the physical flows (nights spent) as compared with the monetary flows (turnover). This graph clearly shows the sharp drop in March and April 2020 when many hotels were closed. Despite the partial recovery during the summer months of 2020, the turnover and the nights spent in tourist accommodation remained at very low levels compared with the previous years. The first signs of recovery appeared in May 2021, while in April 2022 the turnover reached the pre-pandemic levels.

Line chart showing indexed turnover. Two lines represent turnover adjusted by working days in accommodation and nights spent in tourist accommodation over the months January 2015 to December 2015. The index is set as the average for the year 2015.

Data sources

Structural business statistics (SBS) are a main component of business statistics in the European Statistical System (ESS) and describe the structure, main characteristics and performance of economic activities across the European Union. Data is available at a detailed level of economic activities, which allow for the identification and selection of industries that are part of the tourism sector. According to the International Recommendations for Tourism Statistics 2008 the tourism sector (also: 'tourism industries' or 'tourism characteristic activities') includes ten internationally comparable activities and two country-specific activities – this article focuses on the former. An overview of these activities (and the corresponding codes in the international classifications ISIC and NACE) is given in Table 8. All these activities are covered by SBS, except for culture, sports and recreation.

Table showing list of tourism industries, their NACE rev. 2 codes and descriptions.

This article uses a fine-tuned list of the tourism industries, better adapted to the European setting and avoiding overestimations of the economic variables. Activities omitted include "other accommodation" (NACE 5590), "other food service activities" (NACE 5629) and "real estate activities" (NACE 68), these activities are not sufficiently related to tourism to justify their inclusion in the current analysis.

Existing business statistics (SBS, STS) cannot distinguish between services provided to tourists and to non-tourists – typical examples include restaurants catering to tourists but also to locals and railway passenger transport used by tourists as well as by commuters. For this reason, this analysis considers these industries in their totality. Considering the total turnover or employment overestimates the true economic importance of tourism for these industries, but on the other hand, tourism also contributes to other industries not listed in Table 8. The approach used in this article should not be confused with the methodological framework to compile tourism satellite accounts (TSA); the most recent Eurostat statistical report on TSA in Europe is available from the Eurostat website.

Notwithstanding these shortcomings, SBS data allow for an economic analysis of the sector which is not possible using only tourism statistics. A second relevant source within existing business statistics is short-term business statistics (STS). STS can fill the gap of information on turnover or prices where monthly accommodation statistics are limited to evolutions in flows of tourists. As a trade-off with its strong timeliness , STS is available with a lower granularity of activities for services; as a consequence the further analysis of monthly economic indicators focuses on air transport (NACE H51), accommodation (NACE I55) and travel agency, tour operator reservation service and related activities (NACE N79).

Source data for tables and graphs

Microsoft Excel 2010 Logo.png

Following its communication " A new industrial strategy for Europe " (March 2020), the Commission will systematically analyse the risks and needs of different industrial ecosystems. The notion of ecosystem captures the complex set of interlinkages among sectors and firms spreading across countries in the Single Market. Ecosystems encompass all players operating in a value chain: from the smallest start-ups to the largest companies, from academia to research, together with the forces that shape the market environment in which they operate.

Tourism is one of the 14 ecosystems identified, each with its own set of sectors that should cover the entire economic industrial landscape. The tourism ecosystem is a network of globalised and interconnected value chains of both online and offline tourism services providers, where small companies operate along with large multinational corporations.

The green transformation of industry supported by the Strategy will reduce the environmental footprint of our industrial activities and empower industry to provide effective solutions for the societal challenges of the future such as sustainable tourism.

Tourism statistics focus on the accommodation sector on the one hand and the demand side (from households) on the other hand. ESS tourism statistics relate mainly to physical flows: arrivals or nights spent at tourist accommodation establishments or trips made by residents of a country.

This article presents economic data extracted from other areas of official business statistics, in particular structural business statistics (SBS) and short-term business statistics (STS) , in order to provide users with a better economic analysis of this sector, which is an important motor for many countries' economies and labour market.

Direct access to

  • Tourism industries - employment
  • All articles on Tourism
  • Recent Eurostat publications on tourism
  • Tourism (t_tour) , see:
  • Tourism (tour) , see:
  • Structural business statistics (sbs) , see:
  • Short term business statistics (sts) , see:
  • Short term business statistics (STS)
  • Structural business statistics (SBS)
  • Methodological manual for tourism statistics
  • Structural business statistics introduced
  • Short-term business statistics introduced
  • Commission Implementing Regulation (EU) No 1051/2011 of 20 October 2011 implementing Regulation (EU) No 692/2011 concerning European statistics on tourism, as regards the structure of the quality reports and the transmission of the data.
  • Summaries of EU legislation: Tourism statistics
  • Regulation (EU) No 692/2011 of the European Parliament and of the Council of 6 July 2011 concerning European statistics on tourism and repealing Council Directive 95/57/EC.
  • Delegated Regulation (EU) 2019/1681 of 1 August 2019 amending Regulation (EU) No 692/2011 of the European Parliament and of the Council concerning European statistics on tourism, as regards the transmission deadlines and adaptation of Annexes I and II.
  • Industry, trade, and services
  • Tourism industries
  • Statistical article
  • ISSN 2443-8219
  • This page was last edited on 6 March 2024, at 16:08.
  • 2 watching users
  • Privacy policy
  • Accessibility
  • About Statistics Explained
  • Disclaimers

What state makes the most money from tourism?

By Audrey Wilson   |   Verified by David Boyd   |   Published June 29, 2023

Tourism is a thriving industry in the United States that attracts millions of visitors from around the world each year.

It's not hard to see why. Renowned for its diverse landscapes, vibrant cities, cultural attractions, and iconic landmarks, the U.S. offers a wealth of experiences for travelers seeking adventure, entertainment, and cultural enrichment.

But where do those tourist dollars get spent?

From the sun-soaked beaches of California to the bustling streets of New York, these are the states that benefit most from domestic and international tourism.

Coming up next

Coming up next

Key takeaways, pennsylvania.

  • California leads the pack in terms of tourism revenue, generating an impressive $139 billion in 2022.
  • The top 10 states by tourism revenue showcase a mix of well-known destinations and unexpected contenders. States like Texas and Pennsylvania, not typically associated with tourism, make the list, highlighting the variety of experiences available throughout the United States.
  • The United States offers a wide range of tourist destinations that cater to different interests and preferences. Whether you're seeking sun-soaked beaches in Florida, exploring historical sites in Pennsylvania, or marveling at the natural wonders of Arizona's deserts, there is something for every type of traveler.
  • Regardless of your passion, be it history, culinary delights, or adrenaline-pumping adventures, the top 10 states by tourism revenue have attractions and activities that cater to your interests.

California

$139 billion

California takes the lead in tourism revenue, raking in a staggering $139 billion in 2022 .

The state's appeal lies in its diverse range of attractions, from the enchantment of Disneyland and the glitz of Hollywood to the breathtaking beauty of national parks like Yosemite and Joshua Tree. The allure of California extends beyond its iconic landmarks, as its miles of beaches, mountains, and deserts offer something for every traveler. The year-round temperate weather further enhances its draw, making it a sought-after destination throughout the year.

With its unrivaled combination of entertainment, natural wonders, and favorable climate, California continues to captivate visitors from around the world and remains the crown jewel in terms of tourism revenue. Whether seeking family fun, Hollywood glamour, or outdoor adventures, California promises an unforgettable experience that keeps travelers coming back for more.

Florida

$101.9 billion

Florida's tourism industry continues to thrive, with an estimated 35 million travelers visiting during the third quarter of 2022 . This marked a notable increase of 6.9% compared to the previous year and an impressive 8% rise when compared to pre-pandemic levels in 2019. In 2021, visitors to Florida contributed $101.9 billion to the state's economy and supported over 1.7 million jobs, emphasizing the significant economic impact of tourism.

While the renowned theme parks in Orlando, including Walt Disney World Resort and Universal Orlando Resort, continue to attract millions of visitors annually, Florida offers much more beyond these iconic attractions. The state's diverse offerings encompass the breathtaking beauty of the Everglades, the idyllic beaches of the Florida Keys, and the opportunity for unforgettable cruises departing from its shores. With a wide range of experiences, from vibrant cities like Miami and Tampa to pristine coastal areas and unique natural wonders, Florida appeals to travelers seeking adventure, relaxation, or family-oriented fun.

Florida's consistent growth in visitor numbers, coupled with its substantial contributions to the state's economy, highlights the enduring appeal of the Sunshine State as a premier tourist destination. With its favorable climate, diverse attractions, and well-developed tourism infrastructure, Florida continues to captivate travelers from around the world, solidifying its position as a prominent player in the global tourism industry.

Nevada

$90.7 billion

Nevada, the Silver State, experienced a thriving travel and tourism industry with a significant economic impact. In 2022, the industry generated an impressive $90.7 billion impact on Nevada's economy , surpassing pre-pandemic levels. The renowned city of Las Vegas, with its iconic Strip and world-class resorts, continues to be a major draw for visitors worldwide.

The city's vibrant entertainment, casino scene, and diverse culinary offerings create an atmosphere of excitement and allure. However, Nevada's appeal extends beyond Las Vegas, as the state also boasts stunning natural beauty. The proximity to the Grand Canyon and the breathtaking landscapes of Lake Tahoe provide outdoor enthusiasts with opportunities for exploration and recreational activities.

Texas

$67.6 billion

The Lone Star State, is not only a significant player in the travel and tourism industry but also a major contributor to job growth and earnings. In 2022, the industry supported a remarkable 10% increase in travel-related jobs, reaching a total of 1.2 million jobs across the state. These jobs encompass various sectors, including hospitality, transportation, and entertainment. Alongside this job growth, earnings in the travel sector soared to $67.6 billion , further highlighting the economic significance of travel and tourism in Texas.

Texas offers a diverse range of attractions, from the captivating Houston Space Center to the historically significant JFK assassination tour in Dallas. Its varied landscape encompasses deserts, beaches, and mountains, while its cities, such as Austin, Dallas, and Houston, offer distinct vibes and a wealth of cultural experiences.

The state's appeal lies in its ability to cater to different interests and preferences. Whether visitors seek adventure in the scenic deserts, relaxation on the beautiful Gulf Coast beaches, or exploration of vibrant urban centers, Texas has something to offer. The economic impact generated by the travel and tourism industry underscores its importance as a key driver of Texas' economy, solidifying the state's position as a noteworthy tourist destination.

New York

$60 billion

The Empire State may not have beaches or theme parks, but its cultural offerings make it a captivating destination. In 2022, the city welcomed a staggering 56.4 million visitors, fueling its economic recovery and supporting around 410,000 jobs in the leisure and hospitality sector. The city's renowned museums, including The Met and MoMA, showcase exceptional art collections, while Broadway enthralls audiences with its world-class theater productions. Iconic landmarks like the Statue of Liberty and Central Park add to the city's allure, making it a must-visit for cultural enthusiasts.

Beyond New York City, the state offers additional cultural gems, such as the historic sites of the Hudson River Valley and the scenic beauty of the Finger Lakes region. The cultural richness of New York attracts millions of visitors worldwide, generating over $40 billion in direct visitor spending and contributing to an estimated $60 billion in total economic impact. With its vibrant atmosphere and cultural treasures, New York promises an unforgettable experience for those seeking art, history, and the unique essence of the city that never sleeps.

Pennsylvania

$38 billion

Pennsylvania's tourism industry has experienced remarkable growth, with nearly 180 million visitors in 2021, marking an increase of over 28 million visitors compared to previous years. These visitors contributed $38.0 billion in direct spending, supporting hotels, restaurants, retailers, and other businesses across the state. The total economic impact of tourism in Pennsylvania reached $66.3 billion in 2021 , sustaining over 450,000 jobs and generating $4.2 billion in state and local tax revenues.

Pennsylvania's allure as a tourist destination lies in its rich history, diverse attractions, and vibrant cities. From the historic landmarks of Philadelphia, including Independence Hall and the Liberty Bell, to the breathtaking landscapes of the Pocono Mountains and the scenic beauty of Lancaster County, the state offers a wide range of experiences. The vibrant cities of Pittsburgh and Harrisburg add to the appeal, providing cultural and recreational opportunities for visitors.

Georgia

$34.4 billion

Georgia's tourism industry experienced remarkable success in 2021, attracting nearly 200 million visitors who collectively contributed $34.4 billion in direct visitor spending. This robust influx of visitors generated over $4 billion in state and local tax revenues, fueling the state's economy and supporting vital public services. According to state data, the total economic impact of Georgia's tourism industry reached an impressive $64.5 billion , highlighting its significant role in driving economic growth and prosperity.

The appeal of Georgia as a tourist destination lies in its diverse range of attractions and experiences. The dynamic city of Atlanta stands out as a major draw, offering a blend of rich history, cultural landmarks, and modern amenities. From exploring the historic sites associated with Martin Luther King Jr. to immersing oneself in the vibrant arts scene, Atlanta provides an array of captivating experiences. Georgia's natural beauty also shines through its scenic coastal beaches and picturesque mountain ranges, offering opportunities for outdoor adventures and leisure activities.

Illinois

$32.2 billion

Illinois boasts a robust tourism industry that significantly contributes to the state's economy. In 2021, direct visitor spending reached $32.2 billion, resulting in a remarkable total economic impact of $59.5 billion. This substantial impact not only fuels economic growth but also supports 388,800 jobs and generates $4.3 billion in state and local tax revenue.

With its diverse range of attractions and activities, Illinois offers something for every visitor. Chicago, the state's vibrant metropolis, stands out as a top destination, attracting tourists with its renowned architecture, cultural institutions like the Art Institute of Chicago, and vibrant arts scene. Historic sites, such as the Abraham Lincoln Presidential Library and Museum in Springfield, provide a glimpse into the state's rich heritage, while nature enthusiasts can explore the scenic beauty of Shawnee National Forest and enjoy outdoor adventures along Lake Michigan's shores.

Ohio

$53 billion

Ohio's tourism industry reached new heights in 2022, as it recorded a remarkable $53 billion in visitor spending and welcomed a staggering 233 million visitors . This outstanding achievement showcases the state's appeal as a tourist destination and its ability to attract a diverse range of visitors. Furthermore, the industry's growth has had a significant positive impact on Ohio's economy, supporting a substantial workforce of 424,339 seasonal, part-time, and full-time jobs.

Visitors to Ohio are drawn to its wide array of attractions and experiences. The state is home to world-renowned amusement parks, including Cedar Point and Kings Island, which offer thrilling rides and entertainment for all ages. Ohio's vibrant cities, such as Columbus, Cleveland, and Cincinnati, provide cultural richness with their museums, art galleries, and professional sports teams, ensuring there's something for everyone. Additionally, Ohio's natural beauty is showcased through scenic locations like Hocking Hills, the picturesque shores of Lake Erie, and the captivating Cuyahoga Valley National Park.

Arizona

$23.6 billion

Arizona's tourism industry flourishes as visitors are captivated by its warm weather and remarkable natural beauty, making it the state's top export industry in 2021. The year witnessed an impressive 40.9 million visitors who collectively spent $23.6 billion , driving economic growth and supporting job creation. The industry's significant contribution of $3.4 billion in tax revenue translates to an average tax savings of $738 for every Arizona household and supports a workforce of 167,200 industry jobs.

The state's appeal as a tourist destination lies in its stunning landscapes and diverse attractions. The world-famous Grand Canyon stands as a testament to its natural beauty, attracting millions of visitors annually with its awe-inspiring views. From the picturesque Sedona to the breathtaking Monument Valley and the captivating Sonoran Desert, the state offers ample opportunities for outdoor exploration and adventure. Arizona's vibrant cities, including Phoenix and Tucson, provide cultural experiences, renowned golf courses, and a thriving culinary scene that cater to various interests and preferences.

The Bay State may be small, but it packs a punch with $28.3 billion in tourism revenue in 2019. Boston is the centerpiece, with its rich history and famous landmarks like the Freedom Trail and Fenway Park. Still, Massachusetts also offers picturesque coastal areas like Cape Cod and Martha’s Vineyard and the beautiful Berkshires in the western part of the state.

  • Layah Heilpern's net worth
  • Ethan Klein's net worth
  • Mike Cernovich's net worth
  • Richard Cooper's net worth
  • Benny Johnson's net worth
  • George Janko's net worth
  • Matt Walsh's net worth
  • Robert F. Kennedy Jr.'s net worth
  • Tom Bilyeu's net worth
  • Lara Trump's net worth

Advertiser disclosure

At Finty we want to help you make informed financial decisions. We do this by providing a free comparison service as well as product reviews from our editorial staff.

Some of the products and services listed on our website are from partners who compensate us. This may influence which products we compare and the pages they are listed on. Partners have no influence over our editorial staff.

For more information, please read our editorial policy and find out how we make money .

Finty Rewards logo

Finty members get

I don't want rewards

I want rewards

Disclaimer: You need to be logged in to claim Finty Rewards. If you proceed without logging in, you will not be able to claim Finty Rewards at a later time. In order for your rewards to be paid, you must submit your claim within 45 days. Please refer to our T&Cs for more information.

Annual $173 Billion Worth Of Volunteer Tourism Industry Is Enough To Make A Change.

Sujan Pariyar

Sujan Pariyar

tourism industry net worth

Thousands of volunteer organizations with thousands of volunteer opportunities worldwide. Millions of well intended people willing to give their time to make a difference. Billions of dollars contributed just for welfare of others. Voluntourism is now more than $173 billion dollar industry with a “Make a difference tag line”.

Traveling is a great way to explore ourselves and if we are able to give back to local communities during our travel trips, it can give us the sense of fulfillment and satisfaction. Joining right intended organizations can make the experience of giving back memorable and worth it. Organizations charge you for your accommodation and meals that are provided for you during your volunteering trips. Many times the price will be higher because the project add some funds to sustain. If the humanitarian organization is solely running of volunteer contributions, then some parts of the funds will also support local staffs for working everyday in the projects. There are also various organizations giving free accommodation and meals in exchange of volunteer work.

It’s always better to connect with projects directly than through agencies. Here’s why:

Many international agencies charge an average of $1000 for a month of volunteering. With the advertising costs, staff salary and other stuff they will only be able to pay half of the funds to the partner organizations in developing countries. When the organizations in the developing countries get an average of $500 from international organizations, they will only manage to give half or less of it to the real project which is making the difference in local communities . Technically, the real project you are working with and accommodation plus meals they are providing you for a month, they will only get an average of $250 per month out of your $1000.

Avoid all this charming volunteer international agencies and find the local projects . Imagine yourself paying around $300 for the accommodation and meals to the host organization and using the rest of the money that would have been paid for the international organization to make the real difference. If you are volunteering with children you will be able to buy them stationary or other education material, you can be able to supply food for poor families for several months, you can help sponsor some kids for a year education and more. The money which would go in the pocket of different unnecessary agencies can make the real difference in the real project. Investing smart in voluntourism can help the project to upgrade and the fund is enough to make a change in third world countries.

Voluntourism : A rapid growing multi-billion dollar controversial industry.

There are almost equal numbers of people who think voluntourism is bad and good. Many people believe that volunteer travels do more harm than good. And there is also a huge number of people who love volunteering and every travel they make they support a local community charity.

Some of the reasons why this industry is controversial:

High volunteering fees without transparency.

Untrained foreigner involvement in serious projects like children welfare.

Volunteers taking aways jobs of locals.

Volunteer project scam.

Short term volunteering periods.

Benefits of Volunteering and Traveling.

Research shows that volunteering leads to higher life satisfaction and lower rates of depression, as well as better physical health and a longer life. Also by volunteering and traveling abroad we will be able to gain new experiences out of our comfort zone. Meeting new people and making new friends help us to understand different lifestyles of being in developed and developing countries. The experience we gain during voluntourism helps us to enhance our resume and personal growth. Many times making a difference in someone’s life gives us a sense of achievement and fulfillment that earning money doesn’t.

There are numerous benefits of traveling abroad. When we travel to a new country we deal with new languages and new culture. We try to adapt in new situations and new environment which helps us to build patience. It makes us more social and boost up our confidence. Many times traveling give us more valuable lessons for our life than reading a book or watching news. Exploring new places and breaking out our daily lifestyles help us to get new, creative and original ideas.

How to make a difference with your money and volunteering trip?

Every year millions of volunteers contribute billions of dollars for welfare of third world countries. Even developed countries are recruiting volunteers for different project. The numbers of volunteers are raising every year. Most of the volunteers are gap year students and from the age group of 19 -26 years old. America, Germany, Denmark, United Kingdom, Spain are just some of the active countries whose citizens volunteer all around the year in developing countries. Before thinking of signing up for a volunteer trip, know what you are good at. What are your talents or skills you can contribute. Please don’t volunteer in a project you have no idea about. If you really like the project and you want to join, then ask the program manager if they can give you some orientation classes where you can learn some skills to contribute and hand the project properly. As said before, try to research local organizations who are in need of help, not the best volunteer advertising companies which are easy to find in google ( If you really want to make a difference). During your volunteer trip, try to research what the organization is in need and contribute on that. Many time donating money is not solution, supporting things like buying stuff by yourself for the organization can make the right use of your money.

Author: Sujan pariyar is editor in chief at  Influencing Entrepreneur  magazine, founder of Inxchan.com. He is also known for starting meditation and yoga picture as travel trend.

IMAGES

  1. Tourism industry statistics for 2020 and beyond

    tourism industry net worth

  2. Tourism Industry: Here's all you should know about the structure

    tourism industry net worth

  3. Tourism Market Research: Trends 2023 in the UK

    tourism industry net worth

  4. Mapping the Tourism Industry Around the World

    tourism industry net worth

  5. Tourism Industry: Here's all you should know about the structure

    tourism industry net worth

  6. Tourism Industry in India

    tourism industry net worth

VIDEO

  1. All Industry

COMMENTS

  1. Global tourism industry

    Travel and tourism: share of global GDP 2019-2033. Share of travel and tourism's total contribution to GDP worldwide in 2019 and 2022, with a forecast for 2023 and 2033. Leading global travel ...

  2. COVID-19 and reimagining the tourism economy

    Tourism made up 10 percent of global GDP in 2019 and was worth almost $9 trillion, 1 See "Economic impact reports," World Travel & Tourism Council (WTTC), wttc.org. making the sector nearly three times larger than agriculture. However, the tourism value chain of suppliers and intermediaries has always been fragmented, with limited coordination among the small and medium-size enterprises ...

  3. Travel and tourism in the U.S.

    In 2022, the total direct travel spending of domestic leisure travelers in the U.S. amounted to 718 billion U.S. dollars. Meanwhile, during that same year, international travel spending in the U.S ...

  4. Global Market Size of Travel and Tourism (2017-2021, $ Billion)

    The travel and tourism market across global grew at a compound annual growth rate of negative 13% during the period 2017-2021. The global travel industry along with its allied sectors saw a slump in market value with the pandemic in 2020. Prior, to 2020, the industry was also witnessing slow growth due to low economic growth.

  5. Global Tourism Market To Be Worth $12.3 Billion by 2032

    If that annual growth is realized, the global tourism industry will reach an overall value of $12.3 billion by the end of 2032, according to a newly released market research study from Customs Market Insights. The same report indicates that the global tourism market was valued at about $8.56 billion in 2022 and was expected to increase to $8.87 billion by the end of last year.

  6. The Covid-19 Pandemic Has Cost The Global Tourism Industry ...

    In the first 10 months of 2020 alone, it cost the tourism industry $935 billion in revenue worldwide - or if we stick with our long-form representation, $935,000,000,000.

  7. Paris Tourism Economy Rated World's Most Valuable At $36 Billion

    Paris' tourism industry generated the most money of any city. ... Shanghai sits at No. 4 with a sector worth $30 billion in 2022. But the WTTC expects that to rise to $71 billion by 2032 ...

  8. Tourist Spending Insights Provide Unprecedented View of Global Tourism

    Tourism is an important sector in the global economy. Today, 10.4% of the world's GDP and 7% of the world's total exports come from tourism. The industry is worth over US$ 1.1 trillion. The money earned from expenditures by foreigners are crucial drivers of economic development and can be an important source of foreign exchange.

  9. International tourism revenue by country, around the world

    International tourism revenue, 2020: The average for 2020 based on 125 countries was 3859 million USD. The highest value was in the USA: 84205 million USD and the lowest value was in Guinea: 1 million USD. The indicator is available from 1995 to 2020.

  10. Travel and Tourism Market Share, Size and Industry Growth Analysis 2021

    The global Travel and Tourism Market is estimated to surpass $8.9 trillion mark by 2026 growing at an estimated CAGR of more than 3.1% during the forecast period 2021 to 2026. Globally, the tourism industry contributed to $8.9 trillion to the global GDP in 2019 equalling a contribution of 10.3%. However, In the midst of the worldwide Covid-19 ...

  11. Forbes Global 2000: The World's Largest Hotel, Restaurant And Leisure

    The onset of the pandemic was an unforeseen catastrophe for the global tourism industry. ... Marriott reported a net loss of $128 million on nearly $2.2 billion in revenue during the final nine ...

  12. Adventure Tourism Market Size & Growth Report, 2022

    The global adventure tourism market size was valued at USD 282.1 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 15.2% from 2022 to 2030. The adventure tourism industry witnessed strong growth and related spending due to the increased number of travelers in recent years is driving the market demand

  13. State of the Industry Report for the $91.8 Billion Sport Tourism

    FORT WORTH, TEXAS (May 3, 2022) - Sports ETA, the only trade association for the sports events and tourism industry, released its annual State of the Industry Report for 2021 resulting in the sports tourism sector's direct spending impact of $39.7 billion which generated a total economic impact of $91.8 billion, supporting 635,000 full-time ...

  14. Mapping the Tourism Industry Around the World

    In 2018, the global tourism industry was worth $1.7 trillion. Revenues generated from tourists have grown faster than the world economy. The Asia-Pacific region saw the greatest growth in tourist spending, with a 7% increase year-over-year. At $570 billion, Europe is the region with the most tourist spending in 2018.

  15. 25 Hotel Industry Statistics [2023]: Hotel Rate Trends And ...

    The global hospitality industry is worth over $4.548 trillion as of 2022. There are about 1.6 million people employed by the U.S.'s accommodation industry. The global travel and tourism industry was worth $4.671 trillion in 2020, down from its $9.17 trillion value in 2019. The average U.S. hotel occupancy rate is 64.2% as of February 2023.

  16. Travel agency industry

    The market size of the global online travel industry alone was estimated at over 470 billion U.S. dollars in 2022. This figure was expected to rise further in 2023, as companies gradually ...

  17. 2024 travel trends: top destinations and tourism industry trends

    A look at the new travel trends and destinations set to drive the tourism industry in 2024. The Week. ... A significant 54% of affluent high net worth individuals (HNWIs) plan to enjoy "three or ...

  18. Tourism industries

    In 2020, almost one in ten enterprises in the EU non-financial business economy belonged to the tourism industries (see Table 1, Table 2). These 2.3 million enterprises employed 10.9 million persons, accounting for 8.5 % of the persons employed in the non-financial business economy and 20.6 % of persons employed in the services sector.

  19. Analyzing the impact tourism makes on an economy

    "In the tourism industry, we're always looking at the economic impact of tourism," says Yang Yang, associate professor and Arthur F. McGonigle Research Fellow at the School of Sport, Tourism and Hospitality Management (STHM). ... or the overall disparity in net worth. An increase in tourism created an increased demand for rentals which ...

  20. Luxury Travel Market Size, Share And Growth Report, 2030

    The global luxury travel market size was estimated at USD 1.38 trillion in 2023 and is expected to grow at a CAGR of 7.9% from 2024 to 2030. Increasing spending by elite travelers to visit unexplored destinations and gain new experiences is driving the market growth. In addition, the rising trend of micro trips and the rapidly expanding tourism ...

  21. Space Tourism Market Size, Share & Growth Report, 2030

    The global space tourism market size was valued at USD 851.4 million in 2023. It is expected to grow at a compound annual growth rate (CAGR) of 44.8% from 2024 to 2030. Rising advancements in technology, growing inclination of adventure travelers, High Net Worth of Income (HNWI) individuals toward spaceflight, and increased focus on research ...

  22. What U.S. State Makes the Most Money from Tourism?

    Nevada, the Silver State, experienced a thriving travel and tourism industry with a significant economic impact. In 2022, the industry generated an impressive $90.7 billion impact on Nevada's economy, surpassing pre-pandemic levels.The renowned city of Las Vegas, with its iconic Strip and world-class resorts, continues to be a major draw for visitors worldwide.

  23. Annual $173 Billion Worth Of Volunteer Tourism Industry Is Enough To

    Voluntourism is now more than $173 billion dollar industry with a "Make a difference tag line". Traveling is a great way to explore ourselves and if we are able to give back to local communities during our travel trips, it can give us the sense of fulfillment and satisfaction. Joining right intended organizations can make the experience of ...