Prime office rents in London’s West End have grown by 9% this year. While this measure of joblessness in the capital was the highest for any region of the UK, it was below all the other above-mentioned cities, barring Hong Kong.Įmployment growth is, as of now, still proving to be robust, with London likely to be in a stronger position on this measure than every city apart from Paris. This is despite the fact unemployment ticked up in Q1. London Property Alliance’s latest Global Cities Survey shows that the London economy has continued to perform modestly, with growth forecasts narrowly preventing recession this year.

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International visitor spending rose by 81.9% in 2022, but still 40.4% behind 2019 numbers.

Domestic visitor spending increased by 20.4% in 2022, only 14.1% below 2019.

In 2022, there were 2 2 million new jobs, representing a 7.9% increase on 2021, and only 11.4% below 2019.

In 2022, the Travel & Tourism sector contributed 7.6% to global GDP an increase of 22% from 2021 and only 23% below 2019 levels.

Meanwhile, international visitor spending amounted to US$ 1.9 trillion in 2019. Prior to the pandemic, Travel & Tourism (including its direct, indirect, and induced impacts) accounted for 1 in 5 new jobs created across the world during 2014-2019, and 10.3% of all jobs (334 million) and 10.4% of global GDP (US$ 10 trillion) in 2019.

These reports, in conjunction with Oxford Economics, are a vital tool in helping us to equip public and private sector bodies with hard evidence of the huge value Travel & Tourism brings to the economy, so that their policymaking and investment decisions support our sector.

Alongside our Insights reports, WTTC produces reports on the economic and employment impact of Travel & Tourism for 185 countries/economies and 26 geographic or economic regions in the world.

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