LONDON--(BUSINESS WIRE)-- The World Economic Forum has today published a new report forecasting that the travel and tourism industry is projected to serve 30 billion tourist trips by 2034.
Travel and Tourism at a Turning Point: Principles for Transformative Growth, produced in collaboration with and the , reveals a projected $16 trillion contribution to global GDP by the same year鈥攔epresenting more than 11% of the total world economy, according to World Travel & Tourism Council estimates. The report also found that the sector is expanding 1.5 times faster than the global economy, generating significant commercial opportunities as long as the mounting challenges of climate change, labour shortages and infrastructure gaps are addressed.
Inbound and outbound trips increasing fast Asia is on track to become the world鈥檚 fastest-growing tourism economy, with the direct travel and tourism GDP contribution expected to exceed 7% across the region by 2034. Notably, India and China alone will represent more than 25% of all outbound international travel by 2030.
Countries such as Sri Lanka, Thailand, Indonesia, and Saudi Arabia are also poised for significant growth, driven by substantial investment in their tourism sectors. This momentum is leading to a rise in international arrivals, increased tourism-related business activity and greater global visibility.
Sports and technology Equally, high-growth segments like sports tourism, projected to hit $1.7 trillion by 2032, and ecotourism which is growing at 14% CAGR, are redefining travel priorities. The global travel technology market, worth $10.5 billion in 2024, is set to nearly double by 2033, as 91% of industry tech leaders anticipate aggressive investment increases.
To support this boom, the industry will need to expand significantly鈥攔equiring an estimated 7 million new hotel rooms, 15 million additional flights annually and investment in infrastructure capable of supporting 30 billion trips globally.
Risks and opportunities However, the report also flags significant risks. Travel and tourism currently accounts for 8% of global greenhouse gas emissions, a figure that without intervention could rise to 15% by 2034. Waste generated by tourists is expected to reach 205 million tons annually, equivalent to 7% of the world鈥檚 solid waste. At the same time, workforce shortages are escalating. The UK alone saw 53% turnover in 2022鈥2023, while the US hospitality industry continues to lag in hiring despite 16%-above-inflation wage increases.
Without decisive, coordinated action, the sector could face up to $6 trillion in lost revenue by 2030 from future disruptions, missing its potential to become a true driver of resilience, inclusion and regeneration.
B酶rge Brende, President and CEO of the World Economic Forum, said: 鈥淎s global travel accelerates, we are standing at a pivotal crossroads. The sector鈥檚 potential to drive inclusive prosperity, cultural understanding and environmental regeneration is immense鈥攂ut realizing this opportunity will require more than incremental change.
鈥淚t calls for a bold reimagining of the systems that underpin travel and tourism, anchored in multistakeholder collaboration. From aligning on sustainable fuel standards to empowering local communities in tourism planning, the time has come to redesign the rules to create a sector that works better for people and the planet. This report offers a blueprint to guide that transformation and unlock tourism鈥檚 full promise in a rapidly evolving world.鈥
His Excellency Ahmed Al-Khateeb, Minister of Tourism for the Kingdom of Saudi Arabia, said:
"This report cements a global truth: tourism is not just a siloed, standalone industry鈥攊t is an engine for economic growth, cultural understanding, and international cooperation that influences all aspects of the world's experience-driven economy. As the sector expands, the global community must lead with purpose鈥攔eimagining tourism to be more sustainable, inclusive, and resilient.
鈥淚n Saudi Arabia, we鈥檙e investing in regenerative destinations, future-ready infrastructure, and talent development鈥攏ot only to welcome 150 million visitors by 2030, but to help shape and support the future of global tourism. The story being written about tourism of the future is one of transformation, and we invite the world to be part of it.鈥
Bob Willen, Managing Partner and Chairman at Kearney, added: 鈥淭ourism is a powerful driver of jobs, culture and economic growth around the world. As the industry grows to meet the needs of billions more travellers, it also needs to evolve. That means using technology responsibly, supporting workers and small businesses, protecting the planet, and making sure local communities truly benefit.
鈥淭he principles in our report lay out a practical path forward from investing in greener infrastructure and building a more inclusive workforce, to preserving cultural heritage and planning for future crises. It鈥檚 about creating a travel and tourism sector that鈥檚 not just bigger, but works in everyone鈥檚 interests.鈥
Notes to editors Travel and Tourism at a Turning Point: Principles for Transformative Growth is published by the World Economic Forum in collaboration with Kearney and the Kingdom of Saudi Arabia. The report draws on global data, expert interviews and scenario modelling to set out a roadmap for a sustainable and inclusive tourism future.
About Kearney Since 1926, Kearney has been a leading management consulting firm and trusted partner to three-quarters of the Fortune Global 500 and governments around the world. With a presence across more than 40 countries, our people make us who we are. We work impact first, tackling your toughest challenges with original thinking and a commitment to making change happen together. By your side, we deliver鈥攙alue, results, impact.
About the World Economic Forum The World Economic Forum, committed to improving the state of the world, is the international organization for public-private cooperation. The Forum engages the foremost political, business, and other leaders of society to shape global, regional, and industry agendas. ().
About the Ministry of Tourism of Saudi Arabia The Ministry of Tourism of Saudi Arabia, established in the year 2000, is at the forefront of transforming the Kingdom into the most attractive global destination for tourists and investors. Dedicated to realizing Saudi Arabia's ambitious Vision 2030, the Ministry focuses on long-term growth through innovative policies, strategic investments, and the development of national human capital. With a mission centered on enabling accelerated and sustainable growth, it employs data-driven strategies and integrated delivery mechanisms, all while staying true to the country's rich Arabian authenticity. The Ministry is deeply committed to sustainability, aiming to lead by example in minimizing environmental impact and promoting eco-friendly tourism practices that ensure the preservation of natural resources for future generations. By aspiring to captivate hearts and minds of global audience, the Ministry opens Saudi Arabia鈥檚 doors to the world, creating a tourism sector where transformative stories are experienced daily. Having welcomed 100 million visitors in 2023, Saudi Arabia is on a steadfast journey toward its goal of 150 million visitors by 2030. As the guiding force behind Saudi Arabia鈥檚 tourism sector transformation, the Ministry champions cutting-edge regulations, fosters successful collaborations and cultivates talent. This commitment positions the Kingdom to welcome the world, fueling the realization of Vision 2030 and showcasing a sustainable and vibrant future.
View source version on :
Press contact
Tom Stewart-Walvin
Rostrum 鈥 PR consultants to Kearney
Copyright Business Wire 2025
