The contribution of the tourism and travel sector to GDP of Latin America would grow 48.2% in 2022 compared to what was registered in 2020 and would reach US$ 233,000 million over the course of the year, according to estimates by the World Travel and Tourism Council (WTTC).
“In recent years, the travel and tourism sector in Latin America has been seriously affected. However, our latest research shows that 2022 could bring a strong recovery for the sector and the global economy,” said Julia Simpson, President and CEO of WTTC.
According to the agency’s research, the contribution of the global travel and tourism sector to the world economy could reach US$ 8.6 billion during 2022just 6.4% below pre-pandemic levels.
It also revealed that, in 2019, the travel and tourism sector in Latin America contributed US$267 billion to GDP (8.1% of the region’s economy). However, in 2020, when the pandemic severely impacted the industry, its contribution fell by 41.1%; that is, to US$ 157,000 million.
Employment in the tourism sector in 2022
The WTTC study indicated that, if travel restrictions begin to relax and vaccination programs continue to advance, by 2022, jobs generated by the travel and tourism sector could reach 16 million jobs, 22.8% more than in 2020.
“For this, it will be important that significant measures are taken to accelerate the recovery of this sector. It should be noted that the growth forecast for the Tourism GDP in Latin America for this 2022 is still 12.7% below pre-pandemic levels,” the entity said.
Source: Larepublica
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