Travel and Tourism Satellite Account, 2020
The travel and tourism industry—as measured by the real output of goods and services sold directly to visitors—decreased 48.0 percent in 2020 after increasing 1.0 percent in 2019, according to the most recent statistics from the Travel and Tourism Satellite Account. By comparison, the broader economy as measured by real gross domestic product (GDP) decreased 3.4 percent in 2020 after increasing 2.3 percent in 2019.
This is the largest contraction in real output since the travel and tourism statistics began in 1998. Travel and tourism's share of GDP fell from 2.92 percent in 2019 to a historic low of 1.71 percent in 2020. It remains larger than agriculture, mining, and utilities.Read the Article