Global tourism is projected to hit 30 billion trips annually by 2034, contributing $16 trillion to global GDP—more than 11% of the total world economy—according to a new World Economic Forum (WEF) report.
The report, titled “Travel and Tourism at a Turning Point: Principles for Transformative Growth”, was developed in collaboration with Kearney and Saudi Arabia’s Ministry of Tourism. It highlights tourism as a sector growing 1.5 times faster than the global economy, offering substantial commercial opportunities—provided critical challenges such as climate impact, labour shortages, and infrastructure gaps are effectively addressed.
Asia to Lead Global Tourism Growth
Asia is expected to become the world’s fastest-growing tourism economy, with the region’s travel and tourism GDP contribution projected to exceed 7% by 2034. By 2030, India and China alone will account for more than 25% of outbound international travel.
Other regional markets, including Sri Lanka, Thailand, Indonesia, and Saudi Arabia, are also seeing rapid expansion, fueled by major investment in tourism infrastructure and rising global visibility.
Key Growth Segments: Sports, Eco, and Tech
Sports tourism is expected to reach $1.7 trillion by 2032.
Ecotourism is growing at a 14% compound annual rate, reshaping global travel trends.
The travel technology market, valued at $10.5 billion in 2024, is set to nearly double by 2033, with 91% of industry leaders anticipating significant increases in tech investment.
Meeting global demand will require massive expansion, including:
7 million new hotel rooms
15 million additional flights per year
Major upgrades in transport and service infrastructure
Mounting Sustainability and Workforce Challenges
However, the report also warns of serious risks.
Tourism contributes 8% of global greenhouse gas emissions, a figure that could rise to 15% by 2034 without intervention.
Tourist-generated waste is expected to reach 205 million tons annually, or 7% of global solid waste.
Labour shortages continue to challenge the sector, with the UK seeing 53% turnover in 2022–2023, and US hospitality struggling despite wage increases 16% above inflation.
Without coordinated action, the sector could lose up to $6 trillion in potential revenue by 2030, undermining its ability to serve as a driver of resilience, inclusion, and regeneration.
Global Leaders Call for Bold Transformation
Børge Brende, President of the World Economic Forum, emphasized the need for bold reforms:
“The sector’s potential to drive inclusive prosperity and environmental regeneration is immense—but realising it requires more than incremental change. We must redesign the systems that support travel and tourism with sustainability, collaboration, and local empowerment at the core.”
Ahmed Al-Khateeb, Saudi Arabia’s Minister of Tourism, underscored tourism’s central role in global economic development:
“Tourism is not a standalone industry—it is a powerful engine of growth and cooperation. As we invest in regenerative destinations and infrastructure, we’re not just preparing to host 150 million visitors by 2030—we’re helping shape the future of global tourism.”
Bob Willen, Managing Partner and Chairman at Kearney, added:
“As the industry scales to serve billions more travellers, it must evolve—through responsible tech, inclusive employment, and green investment. The future of tourism isn’t just about growth, it’s about making that growth work for everyone.”
Having already welcomed 100 million visitors in 2023, Saudi Arabia remains on track to reach 150 million by 2030, positioning itself as a central player in the transformation of global tourism.
Source: Arabian Business
