Market size of the tourism sector worldwide 2011-2024

The market size of the global tourism sector rose significantly in 2023 compared to the previous year, totaling around 1.9 trillion U.S. dollars. Despite the sharp annual increase, global tourism revenue remained below the figures reported before the onset of the COVID-19 pandemic. As forecast, the market size of the tourism sector worldwide was expected to reach an estimated two trillion U.S. dollars in 2024.

What is the economic impact of travel and tourism?

In 2023, the total contribution of travel and tourism to the global GDP, including the direct, indirect, and induced impact of these markets, was estimated at nearly 10 trillion U.S. dollars, almost recovering from the impact of the COVID-19 pandemic. Similarly, the number of travel and tourism jobs worldwide was just around one percent below pre-pandemic levels in 2023, with these industries generating, directly and indirectly, 330 million jobs.

What are the most popular travel destinations worldwide?

Both before and after the COVID-19 pandemic, France topped the ranking of the most visited countries by inbound tourists worldwide. In 2023, the number of inbound tourist arrivals in France peaked at 100 million, the highest figure reported to date. That year, Spain, the United States, and Italy followed in the list. Meanwhile, the United States was the country with the highest international tourism receipts worldwide in 2023, ahead of Spain and the United Kingdom.