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Travel & Tourism directly supports nearly six times as many jobs as the automotive manufacturing sector in the United States (US), according to a new report by the World Travel & Tourism Council (WTTC).
The WTTC Benchmarking Report 2017 compares Travel & Tourism to eight other sectors, which are considered to have similar breadth and global presence, across 27 countries and five regions.
Synthetic Leather RiekerRieker Combo Black Nero In 2016, the US Travel & Tourism sector sustained 5.5 million direct jobs and a total of 14.2 million, when you take direct, indirect, and induced into account. The research shows that Travel & Tourism supported twice as many jobs as banking (2.7 million), six times more jobs than automotive (987,000) and is significantly larger than mining (711,000), agriculture (2.9 million) and chemicals manufacturing (851,000).
Additionally, Travel & Tourism, when all the direct, indirect and induced impacts are taken into account, generated USD$1,509 billion to the US’ economy in 2016, or 8.1% of the country’s GDP. This is 1 percentage point larger than the automotive manufacturing contribution at 7.1%, and several times larger than that of agriculture (2.9%) and mining (3.1%).
David Scowsill, President & CEO, WTTC, said: “This new study shows the importance of Travel & Tourism in the US, both as a generator of GDP and creator of jobs. We urge the US Administration to acknowledge the strength of these figures and to adjust their current predominantly inward-facing strategy, which seems to be restricting growth in the Travel & Tourism sector.
Policy proposals such as the Travel Ban have already negatively impacted the US image of a welcoming tourist destination for business and leisure travel. Additionally, the President’s proposed budget cut for the US marketing organisation Brand USA will eliminate the country’s international marketing programmes, thus further compounding negative perceptions and dramatically threatening the competitiveness of the US in the global marketplace. This will have direct consequences for GDP growth and job creation for Americans.”
US Travel & Tourism GDP is expected to grow at an annual average of 3.3% over the next decade. In comparison, the total economy is expected to expand 1.7% per annum while the mining and automotive manufacturing sectors are forecast to grow 0.4% and 1.2% per annum, respectively.
“There is a lot to gain from the growth of Travel & Tourism, but this can only be done if the government embraces the importance of the sector and works towards policies that are favourable for the sector to grow. Travel & Tourism jobs are intrinsic to making America great because they cannot be replaced elsewhere! We invite the Trump Administration to sit around the table with the top Travel & Tourism industry leaders to discuss how the US can continue to be a thriving tourist destination, welcoming over 77 million visitors a year,” Scowsill concluded.
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About the Benchmarking Report
The WTTC Benchmarking Report is published once every two years and is sponsored by American Express.
The following sectors have been analysed in comparison to Travel & Tourism. They were selected as having similar a breadth and global presence as Travel & Tourism.
- Agriculture: includes agriculture, forestry, and fishing
- Nero Black Combo Leather RiekerRieker Synthetic Automotive manufacturing: includes motor vehicles and parts & accessories
- Banking: includes all banking activities and related services
- Chemicals manufacturing: includes drugs & medicines, manufacture of basic pharmaceutical products and pharmaceutical preparations, plastics, rubber, paint, polishes, ink, perfumes, cosmetics, soap, cleaning materials, fertilizer, pesticides, other chemicals
- Construction: includes those primarily engaged in the construction of buildings (both residential and non-residential), engineering projects or speciality trade contractors. Construction work done may include new work, additions, alterations, or maintenance and repairs.
- Financial services: includes all financial related activities including banking, investment services and insurance
- Mining: includes the extraction of oil, natural gas, coal, metals, and related services
- Retail (without wholesale): includes all retail trade (i.e. Retail trade, except of motor vehicles & retail codes to motor vehicles and motorcycles)
Countries researched in the study: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Jamaica, Japan, Kenya, Malaysia, Mexico, Peru, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Thailand, Turkey, United Arab Emirates, United Kingdom, and United States of America
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