Contribution of tourism to the economy of Georgia and other countries of the world

Contribution of tourism to the economy of Georgia and other countries of the world

The World Travel and Tourism Council (WTTC) publishes the 2018 report. The organization has been assessing the impact of travel and tourism on the economies of 185 countries using various indicators for 25 years.

According to the report, last year, direct contribution of travel and tourism to GDP in Georgia was 9.3% and it is anticipated that this rate will increase to 10.5% by 2028.

Direct contribution of travel and tourism to GDP reflects economic activity, created by hotels, tourist organizations, air companies, transport, restaurants. Total contribution includes all the fields related to travel and tourism.

Last year, total contribution of travel and tourism to employment was 27%, which involves 483 000 jobs. Among them are jobs, creation of which was facilitated by tourism industry. This year, WTTC anticipates 1.2% growth this rate, which means increase to 489 000 jobs and long-term forecast by 2028 implies the increase of jobs to 546 000. As to direct contribution of tourism to employment, last year it was 140 500 jobs, which is 7.8% of total employment. This year, increase to 142 000 is expected. For 2028, the forecast is 161 000 jobs.

In the report, it is noted that in 2017, investments in tourism and travel sector made 435.1 mln GEL, which is 3.6% of total investments. WTTC anticipates doubling of the rate and its growth to 881.3 mln GEL by 2028. WTTC calculates contribution of tourism and travel to GDP growth in 145 countries, among which Georgia ranks 91.

According to the report, 35.7% of tourism contribution to GDP is business tourism, while 64.3% ia of the money spent for holidays. 79.5% of total contribution is the money spent by foreign visitors and 20.5% – by locals. According to the report, incomes generated by domestic tourism will increase in 2018 by 4.9% and the incomes from foreign visitors – by 5.7%.

In total, contribution of tourism and travel to DGP in the world makes 62.9 bln YSD, in Georgia – 4.7 bln and as a result, the country holds 91st place in the world.

As to other countries of the region, in Turkey, total contribution of tourism and travel to the country’s economy exceeds 98 bln USD and with this rate, Turkey is number 14 in the world. Azerbaijan holds 81st place with $5.6 bln, Armenia – 126th with $1.7 bln and Ukraine – 83rd with $5.5 bln.

With the share of direct employment in the sector of tourism and travel Georgia ranks 78 in the world. According to the report, tourism directly creates 140 300 jobs in Georgia. In the rating, Azerbaijan is ahead of Georgia with 173 400 jobs created by tourism sector. The country ranks 68 in the world, Ukraine is number 56 with 228 100 jobs and Turkey is number 35 with 461 000 jobs. Bulgaria is 98th on the list with 90 000 jobs and Armenia is number 117.

WTTC also calculated indirect impact of tourism and travel in various countries of the world. According to the survey, last year in Georgia, contribution of tourism and travel to GDP was 9.3% and with this rate, Georgia ranked 26 among the countries of the world. In Armenia, this rate is 4.4% and the country is number 67, Azerbaijan ranks 74 with 4.2% and Turkey – 86 with 3.8%.

According to the same calculation, the share of employees working in tourism and related sectors in total employment of Georgia is 7.8% and Georgia ranks 29 among 145 countries of the world. Armenia is number 82 on the list, Azerbaijan – 85, Bulgaria – 114, Turkey – 168 and Ukraine – 171.

With the share of tourism and travel in capital investments, Georgia ranks 130 in the world.

As WTTC forecasts, in Georgia, the increase of tourism’s contribution to GDP in 2018 will be 5.5% and with the increase rate, Georgia holds 48th position in the world. For comparison, 8.5% increase is anticipated in Armenia and the country is number 5 in the world.

According to the report, on Georgia, share of tourism in employment in 2018 will increase by 1.2% and with the increase rate, Georgia is number 130 in the world.

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