The ancient city of Istanbul is buzzing with excitement as tourists flock back, lured by the promise of newfound riches for the local travel industry. The World Travel & Tourism Council‘s latest Economic Impact Research reveals a remarkable comeback story that has Istanbul’s hoteliers, restaurateurs, and tour guides grinning from ear to ear.
According to the report, global tourism spending will shatter previous records in 2024, injecting a whopping 0 billion more into economies worldwide compared to the sector’s highest point pre-pandemic. This translates into one in every ten dollars generated around the globe coming from the unstoppable travel and tourism juggernaut.
The turnaround is already underway. International visitor spending is forecast to reach a staggering .89 trillion this year, nipping at the heels of 2019’s peak. Meanwhile, domestic tourists are set to splurge more than ever before, with expenditure projected to top an eye-watering .4 trillion globally.
But why is this pivotal for Istanbul’s vibrant travel scene? Simple – Turkey finds itself among the lucky 142 nations expected to exceed their individual tourism revenue records from 2019. With its ancient wonders, mouthwatering cuisine, and unique cultural melting pot, Istanbul is a premiere destination primed to cash in on the world’s refreshed appetite for exploration.
Bosphoruscruisetour, CC BY-SA 4.0, via Wikimedia Commons
The numbers prove staggering. Worldwide, the travel sector now accounts for nearly 348 million jobs – over 13.6 million more than its pre-pandemic high point. Opportunity abounds for Istanbul’s hotels, restaurants, guides and more to rapidly expand their workforce and meet soaring demand.
“This isn’t just about breaking records; the travel sector is back at its brilliant best after a difficult few years,” declares Julia Simpson, WTTC’s President and CEO. “Countries like Turkey are providing a significant economic boost and supporting millions of jobs as international visitors return much faster than expected.”
Looking ahead, the WTTC envisions a “promising” decade of “robust growth and unparalleled career opportunities.” By 2034, their analysts predict travel and tourism will supercharge the global economy with trillion in value – a staggering 11.4% of all economic activity worldwide. An incredible 449 million people are projected to find work in this booming industry.
For the locals of Istanbul, this travel renaissance signals a long-awaited return to prosperity. The city’s tea gardens and crowded bazaars are once again alive with the sights, sounds and air of discovery. As travellers reconnect with their wanderlust, Istanbul stands ready to regale them with its ancient splendour.
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Check Amazon’s best-seller list for the most popular travel accessories. We sometimes read this list just to find out what new travel products people are buying.
