Travel sector to contribute US$12tn to global economy in 2026

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Global travel and tourism is projected to contribute US$12 trillion to the world economy in 2026, accounting for 9.9% of global GDP, according to new research from the World Travel & Tourism Council (WTTC), released as the sector continues navigating disruption linked to the Iran war.

WTTC’s latest Economic Impact Research (EIR) projects global travel and tourism will grow 3.2% in 2026, ahead of the wider economic growth forecast at 2.4%, while supporting 376 million jobs worldwide – equivalent to one in nine jobs globally. Over the next decade, the sector’s GDP is forecast to grow at an annual average rate of 3.6%, 1.5 times faster than the wider global economy, with travel and tourism expected to create almost 89 million additional jobs worldwide.

In Europe, travel and tourism growth is forecast to significantly outperform the wider regional economy in 2026, with sector GDP projected to rise 3.6% compared to broader economic growth of 1%. International visitor spending across Europe is expected to increase 7.1% in 2026, ahead of the global average of 3.7%, as travellers increasingly favour destinations closer to home amid geopolitical uncertainty.

UAE leading the way in travel technology, reports WTTC

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Southern European destinations are forecast to continue leading regional growth. Spain’s travel

and tourism sector is projected to grow 3.7% in 2026, matching Türkiye, while Italy is expected to lead Europe’s major tourism markets with growth of 3.8%. International visitor spending in Spain is forecast to rise 5.3% this year after the country recorded 96.8 million international arrivals in 2025 – the second highest in Europe after France – while generating €115.1bn (US$130.1bn) in visitor spending, the highest in Europe and third globally.

Sustained long-term growth will depend on continued investment in infrastructure, digital innovation, destination management, skills development and cross-border connectivity, with artificial intelligence and emerging technologies expected to play a growing role in traveller experience, operational efficiency and workforce development across the sector, according to the report.

Solo traveller

Gloria Guevara, President and CEO of WTTC, said travel and tourism continued to prove resilient despite slower wider economic expansion.“The sector is creating jobs, driving investment and supporting communities across the continent,” she added.

The projections come as airlines continue adjusting operations following regional airspace disruption and rising fuel costs linked to the Iran war. Jet fuel prices surged from around US$831 per tonne before the conflict to a peak of US$1,838 in early April before easing to approximately US$1,560, according to Bloomberg data, while carriers including KLM, British Airways and Cathay Pacific adjusted schedules and reduced selected routes. EasyJet said it incurred US$25 million in additional fuel costs in March 2026.

The latest forecast also follows WTTC’s recent recovery talks aboard Crystal Serenity in Egypt, where more than 300 tourism leaders discussed connectivity, destination resilience and long-term tourism investment amid regional aviation disruption.

For more information, visit www.wttc.org