WTTC: China’s travel sector contribution to GDP could reach CNY 11 trillion this year

China Published 2 years ago on 22 February 2022 | Author TIN Media
CHINA :

China's Travel & Tourism business contributed CNY 11.5 trillion to GDP (11.6 per cent of the country's economy) in 2019 before the epidemic struck.

However, the pandemic had a significant impact on the sector in 2020, with Travel & Tourism's contribution to the Chinese GDP dropping by 59.9% to CNY 4.6 trillion.

According to the WTTC study, if China, which has already fully vaccinated over 87 per cent of its people, eases restrictions throughout the year, the sector's contribution to GDP might reach CNY 11 trillion in 2022, only 5.2 per cent below pre-pandemic levels.

In 2022, the sector might reclaim more than 14 million jobs, bringing total employment to approximately 81 million, just 1.7 per cent lower than in 2019.

"China is a major player in the global travel and tourism sector," WTTC President and CEO Julia Simpson stated. During the pandemic, it did a good job of driving local tourism, but foreign travel has come to a halt. The advantages of opening borders include an increase in both economic riches and work opportunities.