Travel and Tourism at a Turning Point: Principles for Transformative Growth
The travel and tourism sector stands at a critical juncture. Projected to contribute $16 trillion to global GDP by 2034 – more than 11% of the world’s economy – the industry faces unprecedented growth alongside complex challenges including environmental pressures, workforce shortages and tensions between visitors and residents.
The travel and tourism sector stands at a critical juncture. Projected to contribute $16 trillion to global GDP by 2034 – more than 11% of the world’s economy – the industry faces unprecedented growth alongside complex challenges including environmental pressures, workforce shortages and tensions between visitors and residents.
This comprehensive report, developed by the World Economic Forum in collaboration with Kearney, examines key growth drivers such as evolving traveller profiles, emerging segments like wellness and ecotourism, and technological innovation. It also addresses critical tension points including climate impact, skills gaps and labour shortages, and cultural preservation challenges.
The report presents 10 guiding principles for sector transformation, from adapting offerings to regenerative practices, supported by an overarching framework for holistic collaboration. These principles provide actionable pathways for governments, businesses and communities to harness tourism’s potential while addressing sustainability imperatives, ensuring the sector becomes a catalyst for global resilience, cultural understanding and inclusive prosperity.