As one of the world’s largest economic sectors, Travel and Tourism creates jobs, drives export and generates prosperity across the world. Companies, large and small, inindustries ranging fromaccommodation and transportation to food & beverage, retail and culture and sports & recreation, all strive to create products and services that bring people together, support communities and celebrate the wonders that our world can offer. In its annual analysis quantifying the global economic and employment impact of Travel& Tourism in 185 countries and 25 regions, the World Travel & Tourism Council’s (WTTC) research reveals that the sector accounted for 10.4% of global GDP and 319 million jobs, or 10% of total employment in 2018.
The United Arab Emirates has already established itself as the main tourist destination in the Gulf Cooperation Council region. Though a major oil producing country, the Emirati government has a clear vision to diversify its economy and balance its dependency on different sectors. The tourism industry has established itself as a major amplifer of economic divergence and has been projected to contribute about 312.4 billion United Arab Emirati dirham to the UAE’s GDP by 2027.
The Hospitality, Travel & Tourism sector has always been an integral part of India’s economy. In a 2018 report by the World Travel and Tourism Council (WTTC) – India was ranked 3rd in the world tourism sector after the US and China. This sector is the 3rd largest Foreign Exchange Earner for the country and its direct contribution to GDP which is just spending on accommodation, transportation, attractions and entertainment alone, was US $ 98 billion last year.81.1 million people were employed in the tourism sector in India in 2017- 18, which was 12.38 per cent of total employment in the country.