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The rise in travel and tourism has shown significant resilience globally. Despite slow economic growth in advanced economies and geopolitical tensions in some regions, the T&T sector still accounts for a large part of the global economy (estimated to be approximately 9% of global GDP or US$ 7 trillion) and employment, while the number of international travelers continues to increase. According to the World Travel & Tourism Council (WTTC), the T&T sector is forecast to continue growing at 4% annually—faster than financial services, transport, and manufacturing.

 

Source: WEF Travel and Tourism Competitiveness Report

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