New research from the World Travel & Tourism Council (WTTC) has revealed China’s Travel & Tourism sector’s contribution to GDP could reach CNY 11 trillion this year, just 5.2% short of pre-pandemic levels.
In 2019, before the pandemic struck, China’s Travel & Tourism sector’s contributed CNY 11.5 trillion to GDP (11.6% of the country’s economy).
However, in 2020 the pandemic had a major impact on the sector and Travel & Tourism’s contribution to the Chinese economy fell by a staggering 59.9%, to CNY 4.6 trillion.
WTTC research shows that if China, with more than 87% of its population already fully inoculated, begins to ease restrictions throughout the year, the sector’s contribution to GDP could reach CNY 11 trillion in 2022, just 5.2% behind pre-pandemic levels.
The sector could recover more than 14 million jobs to reach nearly 81 million jobs in 2022 – just 1.7% below 2019 levels.
Julia Simpson, WTTC President & CEO, said: “China is a critical player in the global Travel & Tourism sector. It has done well to drive domestic tourism during the pandemic, but international travel has come to a halt. The benefits to opening borders represent a boost in both economic wealth and jobs.
Read original article