Economists are forecasting sluggish global growth in 2026, with wider GDP expected to crawl along at 2.4 percent amid inflationary pressure, geopolitical uncertainty and cautious consumer spending. Most industries are bracing for it. Travel isn’t. The sector is not only growing faster than the broader economy, it has been doing so consistently, and new research suggests the gap is only going to widen.
New data from the World Travel & Tourism Council shows the global travel sector is on track to contribute $12 trillion to the world economy this year, accounting for nearly 10 percent of global GDP. Wider global economic growth is forecast at 2.4 percent. Travel is growing at 3.2 percent. The gap is widening, and the WTTC’s research suggests it will keep doing so for the next decade.
Why Travel Keeps Beating the Broader Economy
The WTTC produces its Economic Impact Research annually across 184 economies in partnership with Oxford Economics, making it one of the most authoritative datasets in the industry. The 2026 figures tell a clear story.
Over the next 10 years, global travel and tourism GDP is forecast to grow at 3.6 percent annually, which is 1.5 times faster than the wider global economy’s projected 2.4 percent. The sector is also expected to generate roughly 89 million new jobs globally over that period, accounting for approximately one in three of all new jobs created across the entire economy.
Where the Growth Is Actually Happening
Europe is leading the charge. While wider European GDP growth is forecast at just 1 percent in 2026 amid inflationary pressure and economic uncertainty, the continent’s travel sector is expected to grow 3.6 percent, nearly four times faster. International visitor spending across Europe is projected to rise 7.1 percent, well above the global average of 3.7 percent, as travelers increasingly choose destinations closer to home.
Spain is one of the standout performers. The WTTC forecasts Spain’s travel sector will grow 3.7 percent in 2026, with international visitor spending rising 5.3 percent. Those numbers sit on top of an already remarkable 2025: Spain drew 96.8 million international arrivals last year, second in Europe only to France, while generating $130.1 billion in visitor spending, the most of any European destination and third highest globally. The country is not just popular. It is converting that popularity into revenue better than almost anyone else on the continent.
Italy is keeping pace. WTTC forecasts Italy will lead Europe’s major markets with 3.8 percent travel sector growth in 2026. The country’s sector was valued at $248.3 billion in 2024, according to separate WTTC data, driven by strong international visitor spend and a booming meetings and events industry that shows no signs of cooling.
The employment picture reinforces the trend. Travel already supports 376 million jobs worldwide in 2026, representing one in nine of all jobs globally. The forecast of 89 million additional positions over the next decade makes it one of the most significant engines of employment growth anywhere in the world economy.
The Decade Ahead
Zoom out to 2035 and the trajectory holds. WTTC projects travel will inject $16.5 trillion into the global economy by then, representing 11.5 percent of global GDP, growing at 3.5 percent annually against the broader economy’s 2.4 percent. That sustained gap is not an accident. It reflects a fundamental shift in how people spend, prioritizing experiences over goods even when household budgets tighten.
The growth is not uniform. The U.S. faces headwinds from a pullback in international arrivals, while Southern Europe continues to surge. For travelers, that divergence is worth paying attention to: some destinations are actively investing in the infrastructure and policies to welcome visitors, and the data shows exactly which ones.
Travel is not bouncing back from the pandemic. It has moved past that story entirely. The industry is rewriting its role in the global economy, and the numbers behind the shift are hard to argue with.
Jennifer Allen is a retired chef turned traveler, cookbook author and nationally syndicated journalist; she’s also a co-founder of Food Drink Life, where she shares expert travel tips, cruise insights and luxury destination guides. A recognized cruise expert with a deep passion for high-end experiences and off-the-beaten-path destinations, Jennifer explores the world with curiosity, depth and a storyteller’s perspective. Her articles are regularly featured on the Associated Press Wire, The Washington Post, Seattle Times, MSN and more.