The news comes on the day WTTC, which represents the global Travel & Tourism sector, its Members, and business leaders from around the world, head to Paris for the Destination France summit.
Organized by President Emmanuel Macron and with an opening speech from WTTC Chairman and President & CEO of Carnival Corporation & plc, Arnold W. Donald, the event will focus on driving travelers back to the destination which before the pandemic, was the world’s most popular destination.
WTTC says the sector’s growth this year is set to soar ahead of Europe’s overall recovery at 23.9%, and the global recovery at 30.7%.
In 2019, France’s Travel & Tourism sector’s contribution to GDP represented €211 billion (8.5% of the national economy).
In 2020, when the pandemic brought international travel to a grinding halt, the contribution of the Travel & Tourism sector fell to just €108 billion (4.7% of the national economy).
However, according to the latest research, at the current rate of recovery, France’s Travel & Tourism sector can expect a year on year growth of almost 35%, representing an increase of €38 billion.
The data also reveals that the country could see a year on year increase of 21.8% in 2022, contributing a further boost to the economy of €32 billion.
The global tourism body says that whilst a rise in domestic travel has provided some relief to the nation, it is not enough to achieve the full recovery needed to salvage its economy and the millions of jobs lost due to the COVID-19 pandemic.