The World Travel and Tourism Council’s recent Economic Impact Report (EIR) revealed that the African Travel and Tourism sector is expected to create nearly 14 million new jobs in the next decade in this continent.
The WTTC estimates that an average of 1.4 million new jobs are created in this region’s tourism sector each year. The same also revealed that the sector would lead the economic recovery in this region, with annual GDP growth set to outperform the overall economy for the next ten years, VisaGuide.World reports.
According to the report, between 2022-2023, the GDP of Travel and Tourism is projected to grow at an average rate of 6.8 percent, more than double the growth rate of 3.3 percent of the region’s overall economy, to reach nearly US$279 billion or 7.2 percent of the total economy.
Such data also show that by the end of 2022, the contribution of the sector to GDP is expected to increase by 20.5 percent to US$144 billion, reaching 5.1 percent of total economic GDP,
In addition, employment in this sector is expected to increase by 3.1 percent to reach about 22 million jobs.
“The global tourism body’s annual report also shows further optimism for the region’s Travel & Tourism GDP, which could approach pre-pandemic levels by 2023 – just 9 percent below 2019 levels,” the statement issued by WTTC reads.
In this regard, President and CEO of WTTC, Julia Simpson, noted that the African country is clearly recovering and is determined to experience considerable recovery.
“However, last year, the recovery was significantly impacted by Omicron, which saw many countries reinstating severe and unjustified travel restrictions on several key African destinations,” she also added.
Before the pandemic started, the contribution of the Travel and Tourism sector to the region’s GDP was 6.8 percent or US$182.4 billion in 2019, falling to just 3.8 percent of US$96.5 billion in 2020 when the pandemic was at its peak. Almost halved the contribution of such a crucial sector to the economy with a decline of 47.1 percent.
The sector also supported over 25 million jobs throughout the region, which after a decline of 22.9 percent in 2020, fell to only 19.6 million.
Moreover, the latest WTTC EIR Report in 2021 reveals a year in which the start of the recovery for the Travel and Tourism sector of the region is seen, where the contribution of Travel and Tourism to GDP increased by 23.5 percent year on year, reaching more than US$119. billion.
It also saw a recovery of 1.6 million jobs in Travel and Tourism, representing an increase of 8.2 percent to reach more than 21 million.