(TAN): World Travel & Tourism Council (WTTC) has found strong signs of recovery of the economic impact from travel & tourism in the five city ‘powerhouses’ of Western Europe.
The Cities Economic Impact Report, sponsored by Visa and researched in partnership with Oxford Economics, analysed key indicators such as tourism’s contribution to GDP, employment and traveller spend. The study examined the impact of the sector in London, Paris, Berlin, Rome and Madrid.
The WTTC report shows that in 2019, the tourism sector contributed over USD 83.5 billion to the economies of the five European capitals, and last year was just 15% below 2019 at almost USD 71 billion. Paris has shown the strongest recovery of the five capital cities.
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WTTC President & CEO Julia Simpson said: “Travellers are flocking back to Paris, London, Berlin, Madrid, and Rome. Business travel is growing steadily. And China’s reopening is bringing welcome visitors to cities across Europe. Tourists provide a massive boost to both the economy and job creation. It is crucial that the national and local governments continue to recognise the importance of Travel & Tourism for the local and national economies, jobs, and businesses.”
In 2020, job numbers in the five capitals fell by 41% to just over 580,000 jobs. The following year, job numbers rose by 13% to 654,000, and last year job numbers rose again by another 23% to reach 807,000, just 17% below the combined total in 2019. Paris currently has the largest job market in tourism of the five European capitals with almost 322,000 jobs.
