The travel sector is one of the most fascinating in the world. Not only does it offer a multitude of exotic places to explore and experiences to be had, there is also much more to it beneath the surface that helps drive the world economy.
So, here are five things you didn’t know about the travel sector!
1. One in ten people work in the travel sector
If you just look at those who are working in airlines, hospitality and transportation, then the sector already employs about 119 million people around the world.
However, the sector is more complicated than this, and there are numerous other people who support these workers. If you include them, then the number of people employed in the travel sector increases to 313 million. Many of these jobs are semi-skilled, and the workers are in areas where there aren’t many other opportunities for work.
Therefore, the travel industry is the only source of income for many families across the world.
2. Business travel is still important
When virtual meetings became a possibility, many business analysts predicted that business travel would decline. However, research has found that this has not been the case. While there has been a small decrease, it is hardly noticeable.
Going forward, many industry experts believe that opportunities and demand for business travel will actually increase. The countries that are seeing the biggest growth are in the developing world.
3. Staff want to travel around the world
It isn’t just business leaders who want to travel for business. Research has found that many millennial and Generation Z workers are looking for jobs that allow them to travel. Over a third (39%) won’t accept a job unless it gives them an opportunity to travel for work, and nearly a third (30%) would accept a lower salary in exchange for this opportunity, too.
Travelling for work is a great way for people to experience new environments and learn about different cultures around the world.
4. The smartphone is becoming a booking tool
Booking travel arrangements on a desktop is slowly becoming obsolete. According to statistics from Orbitz, nearly 48% of smartphone users in the US will use their devices to research, plan and book an entire trip to a destination they’ve never visited.
Technology is certainly becoming an integral part of the travel experience. This is also partly due to the popularity of review sites.
5. The contribution to the global economy is high
Did you know that the contribution that travel and tourism made to the global economy was $8.8 trillion in 2018? The industry is expected to keep growing, too, resulting in millions of new jobs around the world to support new families and people.
In fact, tourism seems to be a rather resilient sector; even during depressing economic times, the industry tends to grow instead of decreasing. Most (72%) of the global GDP from travel and tourism, however, derives from just 20 countries. Therefore, tourism management will become an important part of the future of the tourist industry.
The travel industry is an important part of the global economy. Without it, many families in the world wouldn’t have an income and many workers wouldn’t be satisfied with their work.