(TAN): The travel & tourism sector in the Middle East is expected to create nearly 3.6 million new jobs over the next decade, according to the World Travel & Tourism Council (WTTC)’s latest Economic Impact Report.
The forecast from the WTTC, which shows an average of 360,000 new jobs every year, also reveals the sector will lead the region’s economic recovery, with its average annual growth set to outpace the overall economy for the next 10 years.
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According to the report, travel & tourism’s GDP is forecasted to grow at an average rate of 7.7% annually between 2022-2032, three times the 2.5% growth rate for region’s overall economy, to reach nearly USD 540 billion (10.1% of the total economy).
The sector’s contribution to GDP is expected to grow more than 36% to over USD 256 billion by the end of 2022, amounting to 6.5% of the total economic GDP, while employment in the sector is set to grow by 8.7% this year to reach over 6 million jobs.
The global tourism body’s annual report also shows further optimism for the region’s travel & tourism GDP, which could almost reach pre-pandemic levels by 2023 — just 2.5% below 2019 levels.
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Julia Simpson, WTTC president & CEO, said: “After a very difficult couple of years, the future is looking brighter with travel & tourism expected to create 3.6 million new jobs across the Middle East over the next decade. Looking to this year and the next, the outlook is more positive with both GDP and employment set to almost reach pre-pandemic levels. The recovery of the sector in the Middle East last year was certainly slower than expected, due in part to the impact of the omicron variant.”
