The World Economic Forum has released a report predicting that the travel and tourism industry will serve 30 billion tourist trips by 2034, contributing $16 trillion to global GDP. This represents more than 11% of the total world economy.

 

The sector is expanding 1.5 times faster than the global economy, generating significant commercial opportunities if climate change, labor shortages, and infrastructure gaps are addressed.

 

Asia is on track to become the world's fastest-growing tourism economy, with India and China representing more than 25% of all outbound international travel by 2030.

 

Countries like Sri Lanka, Thailand, Indonesia, and Saudi Arabia are also expected to experience significant growth due to substantial investment in their tourism sectors.

 

High-growth segments like sports tourism and ecotourism are redefining travel priorities, with the global travel technology market set to nearly double by 2033. To support this boom, the industry will need to expand significantly, requiring 7 million new hotel rooms, 15 million additional flights annually, and investment in infrastructure capable of supporting 30 billion trips globally.

 

However, the report also flags significant risks, such as travel accounting for 8% of global greenhouse gas emissions, generating waste equivalent to 7% of the world's solid waste, and escalating workforce shortages. Without decisive, coordinated action, the sector could face up to $6 trillion in lost revenue by 2030 from future disruptions, missing its potential to become a true driver of resilience, inclusion, and regeneration.

 

Børge Brende, President and CEO of the World Economic Forum, said: “As global travel accelerates, we are standing at a pivotal crossroads. The sector’s potential to drive inclusive prosperity, cultural understanding and environmental regeneration is immense—but realizing this opportunity will require more than incremental change.

 

“It calls for a bold reimagining of the systems that underpin travel and tourism, anchored in multistakeholder collaboration. From aligning on sustainable fuel standards to empowering local communities in tourism planning, the time has come to redesign the rules to create a sector that works better for people and the planet. This report offers a blueprint to guide that transformation and unlock tourism’s full promise in a rapidly evolving world.”

 

Ahmed Al-Khateeb, Minister of Tourism for the Kingdom of Saudi Arabia, said: "This report cements a global truth: tourism is not just a siloed, standalone industry—it is an engine for economic growth, cultural understanding, and international cooperation that influences all aspects of the world's experience-driven economy. As the sector expands, the global community must lead with purpose—reimagining tourism to be more sustainable, inclusive, and resilient.

 

 

 

“In Saudi Arabia, we’re investing in regenerative destinations, future-ready infrastructure, and talent development—not only to welcome 150 million visitors by 2030, but to help shape and support the future of global tourism. The story being written about tourism of the future is one of transformation, and we invite the world to be part of it.”

 

Bob Willen, Managing Partner and Chairman at Kearney, added: “Tourism is a powerful driver of jobs, culture and economic growth around the world. As the industry grows to meet the needs of billions more travellers, it also needs to evolve. That means using technology responsibly, supporting workers and small businesses, protecting the planet, and making sure local communities truly benefit.

 

“The principles in our report lay out a practical path forward from investing in greener infrastructure and building a more inclusive workforce, to preserving cultural heritage and planning for future crises. It’s about creating a travel and tourism sector that’s not just bigger, but works in everyone’s interests.” -TradeArabia News Service