The Ultimate Guide to Investing in the Booming Travel Industry in 2024
By Doyinsola Oladipo
NEW YORK (Reuters) - Discover why the travel industry is set to explode in 2024, with a record $1 out of every $10 spent globally being on travel. Get ready to capitalize on this trend as people rush to book hotels, cruises, and flights, according to the World Travel and Tourism Council's annual report.
With the travel and tourism industry's contribution to global GDP expected to hit new highs, now is the time to invest in this lucrative market. The WTTC estimates a 12.1% year-over-year increase in the industry's contribution to global GDP in 2024, reaching $11.1 trillion and making up 10% of global GDP.
Don't miss out on this economic powerhouse! Despite previous concerns of a global recession, travel and tourism are set to lead the way in economic growth, as stated by Julia Simpson, CEO of the WTTC.
Travel spending in the U.S., China, and Germany will play a significant role in boosting GDP, with the sector expected to support nearly 348 million jobs in 2024. This represents a substantial increase from the pre-pandemic levels in 2019.
Take advantage of the job opportunities in the leisure and hospitality industry, with 1 million job openings currently available in the United States alone. The industry is actively hiring to meet the growing demand for travel services.
Get ahead of the curve and invest in the thriving travel industry of 2024!
Analysis: The travel industry is poised for unprecedented growth in 2024, with a significant increase in global GDP contribution and job creation. Investors and job seekers alike can benefit from the booming travel sector, making it a lucrative opportunity for financial growth and career advancement.
