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In the five “central” cities of Western Europe – London, Paris, Berlin, Rome, and Madrid – there are strong signs of recovery of the economic impact of Travel and Tourism after the Coronavirus pandemic affected this sector worldwide.
Through a new report by the World Travel and Tourism Council (WTTC) it has been revealed that in 2019 the Travel and Tourism sector contributed over $83.5 billion to the economies of the five EU capitals, while in 2022, it was only 15 per cent below 2019 with almost $71 billion, SchengenVisaInfo.com reports.
According to the WTTC, among the five capitals, Paris has shown the strongest recovery with the other four being 18 per cent to 30 per cent below 2019. In 2019, in Paris, the sector’s GDP contribution was $38 billion, but in 2022 it recovered to just six per cent below pre-pandemic levels at around $35.7 billion.
As for the GDP contribution in London, it was almost $15 billion last year, although it is slightly behind Berlin in terms of recovery to the levels of 2019. At the same time, the contribution of the German capital to the economy of the city was over $7.7 billion in 2022, which is 18 per cent less than in 2019.
“Travellers are flocking back to Paris, London, Berlin, Madrid, and Rome. Business travel is growing steadily. And China’s reopening is bringing welcome visitors to cities across Europe. Tourists provide a massive boost to both the economy and job creation,” WTTC President & CEO Julia Simpson, pointed out in this regard.
Simpson also emphasized that it is essential that national and local governments continue to recognize the importance of Travel and Tourism to local and national economies, jobs and businesses.
Moreover, the WTTC revealed that before the pandemic began there were over 976,000 Travel and Tourism jobs across the five cities.
Meanwhile, in 2020, the number of jobs in the five capitals fell by 41 per cent to just over 580,000 jobs. In 2021 the number of jobs then grew by 13 per cent to 654,000, and last year job numbers rose again by another 23 per cent to reach 807,000, just 17 per cent below the combined total in 2019.
In addition, the WTTC reports show that amongst the five capitals, Paris currently holds the largest Travel and Tourism job market with almost 322,000 jobs.
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