It will generate 1.5 million jobs
RR l Buenos Aires | June 4, 2024
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RELATED TOPICS: Argentina, Julia Simpson, PBI, Wttc
The World Travel and Tourism Council (WTTC) projects that by the end of 2024, Argentina’s tourism sector will represent almost 1.5 million jobs, that is, 11.4% of the total jobs in the country. A figure that has not stopped growing after the recovery from the 2020 break, as reported REPORTUR.mx (WTTC: tourism will contribute almost the same in Argentina as in 2019)
Likewise, according to the Economic Impact Research (EIR) 2024, prepared by the world body in association with Oxford Economics, this year will be a key year for the country, as the Travel sector will contribute $62.8 billion to its GDP. , which will mean an increase of 2.4% compared to 2019 levels.
On the other hand, spending by international visitors is expected to approach $7 billion, an increase of 5.7% compared to 2019. In addition, spending on domestic tourism is projected to reach a historical record with almost 40 billion dollars.
The Argentine Travel and tourism sector contributed 58.3 billion dollars to the national economy, with which the sector represented 8.8% of the national economy.
During 2023, the activity also reinforced its workforce with 88 thousand additional jobs than those registered in 2022, with which it managed to contribute with almost 1.40 million jobs throughout the country. Expenditure on international tourism reached 4.6 billion dollars, that is, a growth of 44.6% compared to the previous year’s figure. Likewise, national spending continued to increase and registered more than 39 billion dollars, 5.3% above 2022.
Julia Simpson, president and CEO of the WTTC, said: “Argentina’s Travel and tourism sector continues to establish itself as a pillar for economic growth and social development in the country, while the destination continues to be a tourism benchmark on a global scale. .”
The WTTC sees a promising future for the next decade, characterized by strong growth and unprecedented career opportunities. It is estimated that by 2034, the sector in Argentina will contribute more than 87 billion dollars to the economy, which will represent 10.6% of the national GDP. It will also represent a pillar for the generation of jobs; taking into account the indirect jobs of the hospitality industry.
In this way, almost 15% of the workforce in Argentina will be represented by the Travel and tourism sector.
