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Tourism is back to pre-Pandemic levels, but challenges remain, WEF alerts

July 10, 2024

International tourist arrivals and the travel and tourism sector’s contribution to global GDP are expected to return to pre-pandemic levels this year, driven by the lifting of COVID-19-related travel restrictions and strong pent-up demand, reveals a new World Economic Forum travel and tourism study.

The Travel & Tourism Development Index 2024 (TTDI), a biennial report published in collaboration with the University of Surrey, analyzed the travel and tourism sectors of 119 countries around a range of factors and policies. Topping the 2024 list of economies are the United States, Spain, Japan, France and Australia. The Middle East had the highest recovery rates in international tourist arrivals (20% above the 2019 level), while Europe, Africa and the Americas all showed a strong recovery of around 90% in 2023.

Despite the strides, the TTDI warns that significant investment is needed to close gaps in enabling conditions and market share between developing and high-income countries. One possible pathway to help achieve this would be sustainably leveraging natural and cultural assets – which are less correlated with country income level than other factors – and can offer developing economies an opportunity for tourism-led economic development.

“It’s essential to bridge the divide between differing economies’ ability to build a strong environment for their travel and tourism sector to thrive,” said Iis Tussyadiah, Professor and Head of the School of Hospitality and Tourism Management at the University of Surrey. “The sector has big potential to foster prosperity and mitigate global risks, but that potential can only be fully realized through a strategic and inclusive approach.”

Source: World Economic Forum