14 million travel jobs at risk: WTTC

Research conducted for the World Travel & Tourism Council by Oxford Economics shows that the industry could employ 14 million fewer people and contribute $610 billion less in GDP to the world economy over the next 10 years.

The research looked at 46 countries, which together account for more than 80 per cent of travel and tourism employment and GDP, and assessed how well placed these countries are to create an enabling environment to develop travel and tourism talent over the next decade.

It concluded that that travel and tourism’s human capital challenges are significantly higher than those faced in other sectors, with 37 out of 46 countries facing a talent deficit and skills shortage in the industry over a period of 10 years - resulting in a jobs figure four per cent lower than baseline projected levels of employment.

Travel and tourism currently sustains 266 million jobs, an amount estimated to rise to 347 million by 2024. Similarly, the industry contributed nearly $7 trillion to the global economy in 2014; which is forecast to increase to $11 trillion by 2024.

For more information, visit http://www.wttc.org.