Tourism to contribute 5.8% of global GDP in the next decade
31-12-22
The effects of the pandemic have altered the way we travel. Today, travellers are more concerned about their travel choices. In the wake of the pandemic, several trends have emerged, such as working holidays, staycations, coworking spaces, etc.
The report "Hotel in 2032" by Noesis Capital Advisors, India's leading hotel advisory firm, provides information on an overview of the global hotel industry and current and future hotel trends over the next decade. It also includes some exquisite analysis of the hospitality market by industry leaders.
According to the "Hotel in 2032" report, between 2022 and 2032, travel and tourism will contribute to the global economy at an average annual rate of 5.8%, which is more than double the 2.7% average annual growth of the global economy.
By the end of 2022, the sector's contribution to the global economy is expected to increase by 71% in the Asia-Pacific region, thanks to increased domestic spending and the return of foreign tourists.