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China travel & tourism contributes $402.3 billion to total GDP in 2017

03/23/2018| 1:57:10 PM| 中文

The global economic impact of Travel & Tourism is shown to account for 10.4% of global GDP and 313 million jobs, or 9.9% of total employment, in 2017.

The 2018 Annual Economic Reports by World Travel & Tourism Council cover 185 countries and 25 regions of the world, providing the necessary data on 2017 performance as well as unique 10-year forecasts on the sector’s potential.

Key Facts in China

The direct contribution of Travel & Tourism to GDP was RMB 2,719.2 billion (USD 402.3 billion), 3.3% of total GDP in 2017 and is forecast to rise by 6.9% in 2018, and to rise by 6.7% pa, from 2018-2028, to RMB 5,578.7 billion (USD 825.4 billion), 3.9% of total GDP in 2028.

The total contribution of Travel & Tourism to GDP was RMB 9,119.7 billion (USD 1,349.3 billion), 11.0% of GDP in 2017, and is forecast to rise by 6.6% in 2018, and to rise by 6.6% pa to RMB 18,461.7 billion (USD 2,731.5 billion), 12.9% of GDP in 2028.

In 2017 Travel & Tourism directly supported 28,250,000 jobs (3.6% of total employment). This is expected to rise by 1.5% in 2018 and rise by 1.8% pa to 34,413,000 jobs (4.3% of total employment) in 2028.

In 2017, the total contribution of Travel & Tourism to employment, including jobs indirectly supported by the industry was 10.3% of total employment (79,900,000 jobs). This is expected to rise by 3.2% in 2018 to 82,436,000 jobs and rise by 3.5% pa to 116,493,000 jobs in 2028 (14.7% of total).

Visitor exports generated RMB 846.9 billion (USD 125.3 billion), 5.2% of total exports in 2017. This is forecast to grow by 0.5% in 2018, and grow by 1.9% pa, from 2018-2028, to RMB 1,030.9 billion (USD 152.5 billion) in 2028, 4.2% of total.

Travel & Tourism investment in 2017 was RMB 1,045.4 billion, 3.0% of total investment (USD 154.7 billion). It should rise by 6.2% in 2018, and rise by 6.5% pa over the next ten years to RMB 2,092.9 billion (USD 309.7 billion) in 2028, 3.9% of total.

 

Leisure travel spending (inbound and domestic) generated 80.5% of direct Travel & Tourism GDP in 2017 (RMB 5,256.0 billion) compared with 19.5% for business travel spending (RMB 1,274.7bn).

 

Domestic travel spending generated 87.0% of direct Travel & Tourism GDP in 2017 compared with 13.0% for visitor exports (ie foreign visitor spending or international tourism receipts).

Contribution of Travel & Tourism worldwide

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TAGS: Travel & Tourism | GDP | employment
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