The Dominican Republic seeks to grab a greater share of the growing international travel market. The World Travel & Tourism Council (WTTC) Economic Impact report predicts a 4% year-on-year growth rate over the next 10 years for the tourism sector in Latin America. Tourism is expected to be one of the most dynamic sector in many countries as millions of tourists again enter vacation mode.
In 2019, the Travel & Tourism sector had contributed 10.3% to global GDP.
The report also states that in 2021 the travel and tourism sector’s contribution to Latin America’s GDP represented 6.1% (US$213.4 billion), a growth of 26.5% over the previous year.
According to the Economic Impact Report (EIR), the contribution of the global travel and tourism sector to the world economy during 2021 reached US$5.812 trillion, a growth of more than 21.7% over the previous year. Thus, the sector represents 6.1% of the global economy.
In addition, travel and tourism contributed 289 million jobs in 2021, an increase of 6.7% over the previous year, adding more than 18.2 million new jobs in the sector.
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WTTC
30 August 2022