The European Union’s travel and tourism industry is on track for substantial expansion over the next decade, with projections indicating the creation of 4.5 million new jobs by 2035. This growth is expected to elevate the sector’s contribution to the EU’s GDP to nearly €2.3 trillion, accounting for almost 11% of the region’s economy.
According to recent research, the sector is anticipated to support over 30 million jobs by 2035, highlighting its vital role in the EU’s socio-economic framework. The industry is projected to outpace the broader economy, with a 10-year Compound Annual Growth Rate (CAGR) of 1.8%, compared to the overall EU economy’s 1.3%. Additionally, the sector is expected to contribute more than €900 billion annually in tax revenues to EU governments.
International visitor spending is forecasted to reach €730 billion over the next ten years, while domestic spending is estimated to surpass €1.2 trillion. These figures underscore the expanding influence of travel and tourism on the EU economy. By 2025, the sector’s GDP contribution is projected to approach €1.9 trillion, representing 10.5% of the EU economy, with employment nearing 26 million jobs, or 12% of all EU employment.
The appointment of Commissioner Apostolos Tzitzikostas as European Commissioner for Sustainable Transport and Tourism signals a renewed emphasis on the sector’s importance. This development is expected to foster a more sustainable and interconnected industry, opening new destinations and driving innovation across Europe.
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