By Neil Jerome Morales

MANILA (Reuters). – Global tourism and travel sectors will return to pre-pandemic levels by 2023 and continue to grow at a faster rate than global GDP growth in 2023, according to the World Travel and Tourism Council (WTTC).

According to WTTC, the industry will experience an average annual growth rate of 5.8% between 2022 and 2032, compared to the 2.7% global GDP increase, and there will be 126,000,000 new jobs.

Tourism accounted for 10% of the global GDP in 2019 but it was decimated by the coronavirus pandemic, which reduced its output and left 62 million jobless.

“The recovery will be so impressive that it will recover really strongly.” All of this depends on China’s reopening,” stated Julia Simpson, President WTTC. She called on all nations to reopen their borders.

China’s policy of “zero COVID”, and its persistent lockdowns, have disrupted international trade as well as domestic and foreign travel.

Travel and tourism’s GDP will reach $8.35 Trillion this year, and $9.6 Trillion in 2023. This is a significant increase from its pre-pandemic levels.

According to WTTC, tourism jobs will recover to 300,000,000 this year and to 324 million by 2023. This is close to 2019’s 333 million.

It is expected that the Asia-Pacific hospitality industry will surpass the $3.3 trillion mark in 2023.

Travel in Asia-Pacific has been slower than Europe and North America due to strict borders in many countries. Travellers in Southeast Asia are getting on board again after the removal of COVID-19 quarantine and entry restrictions. Industry members warn that a complete recovery is unlikely to be achieved quickly.