WTTC Projects Record-Breaking Year for Travel
Skift Take
The World Travel & Tourism Council predicts 2024 will be a record year for the sector, with an economic contribution expected to hit $11.1 trillion, indicating robust growth and significant job creation.
The DJIA plunged 530 points, Nasdaq was down 228, the S&P 500 fell 64 points and the 10 year treasury yield was down .05 to 4.31%. Reasons for the plunge ranged from comments by a Fed affiliate suggesting there could be no rate cuts this year to oil spiking on the potential for Iran and Israel escalation. SOND was the big mover in a down day for lodging stocks, up 17%. SLNA traded down to another all-time low, closing at $0.08 a share, down another -19%.
The World Travel & Tourism Council is projecting a record-breaking year for travel and tourism in 2024, with the sector’s global economic contribution set to reach an all-time high of $11.1 trillion. According to the global tourism body’s 2024 Economic Impact Research, Travel & Tourism will contribute an additional $770BN over its previous record. As the global sector soars past its pre-pandemic prosperity, WTTC expects 142 countries
