The travel and tourism market in the U.S. is second in
growth only to China's in the past seven years, according to a report from the
World Travel and Tourism Council (WTTC).
The WTTC ranked the top 10 countries in the world based on
GDP growth, domestic spending, investment growth and visitor exports in its
Travel and Tourism Power and Performance Report.
In order, the top 10 countries are China, the U.S., India,
Mexico, the U.K, Spain, Turkey, Canada, Indonesia, and Australia and the United
Arab Emirates (tied for 10th place).
According to the WTTC, the travel and tourism sector in 2017
accounted for 10.4% of global GDP and 9.9% of total employment (313 million
jobs). The sector grew 4.6% in 2017, outpacing the global economy for the
seventh consecutive year.
"With no surprise, China took first place, driven by
the strongest absolute growth out of all countries in three indicators -- GDP
growth, domestic spending and investment growth," the WTTC said. "It
only failed to climb to the top position in visitor exports, where it ranked
The U.S. has the largest total travel and tourism GDP in the
world and comfortably came in second place to China, the WTTC said. It pointed
to the country's strong economy and its streak of job growth.
"WTTC advocates that growth is driven by strong travel
facilitation policies, and sustainable and proactive planning," president
and CEO Gloria Guevara said in a statement. "The USA must continue to work
to capitalize on the economic benefits of the travel and tourism sector and
realize opportunities for continued growth."