Global Tourism Investment Remains Over $100 Billion Behind Pre-pandemic Levels

 According to the same source, it is anticipated that global investments in the travel and tourism industry will increase by 11.5 percent this year, reaching a total value of $955 billion. Nevertheless, a full recovery to pre-pandemic levels is not expected before 2025. The World Travel & Tourism Council (WTTC) report highlights a substantial decline in capital flow during the pandemic. In 2020, investments plummeted by 24 percent, followed by an eight percent reduction in 2021. Prior to the pandemic, investments from both the public and private sectors in the travel and tourism industry maintained a consistent growth rate of 4.3 percent annually from 2010 to 2019. This growth propelled the figures from $754.6 billion in 2010 to $1.1 trillion by 2019.

WTTC President & CEO Julia Simpson emphasized the significance of investment in Travel & Tourism for global recovery and growth, stating, "Investment in Travel & Tourism is integral to the world’s recovery and growth. The sector’s resilience and potential for innovation continue to drive us forward. We remain confident yet vigilant in our pursuit of a brighter, more connected global future. The countries that displayed the highest levels of investment last year, according to the WTTC, were the United States with $213 billion, China with $146 billion, and Saudi Arabia with $42 billion. Although the United States maintained its top-ranked status, the economic contribution of the Travel and Tourism sector to the country decreased by $700 billion compared to 2019, settling at just under $1.3 trillion in the previous year. Furthermore, Saudi Arabia has significantly increased its investments in various aspects of its aviation infrastructure, hospitality industry, attractions, and related sectors with the aim of tripling tourism's economic contribution. The WTTC report also anticipates that the global tourism and travel sector will experience an average growth rate of 6.1 percent throughout this year. It specifically notes that the Asia-Pacific and Caribbean regions are expected to exhibit the strongest growth rates in terms of investments in the travel and tourism industry.