France’s Travel & Tourism Sector Broke Records in 2023, Aims to Surpass Them This Year

The new report from the World Travel and Tourism Council (WTTC) has revealed that France’s tourism industry experienced a robust six per cent year-on-year increase in its GDP contribution last year, reaching a new high of €246 billion.

According to the same source, the Travel and Tourism sector is also on the same track to contribute an unprecedented €254.7 billion to the economy in 2024, thus representing an eight per cent increase from 2019 and accounting for nine per cent of France’s GDP, Schengen.

This year, the sector expects to support nearly 2.93 million jobs, reflecting an increase of over 76,000 from its previous high.

At the same time, spending by both international and domestic tourists is set to reach new heights, with projections of €70.3 billion and €138.8 billion, respectively.

In 2023, the industry generated over 172,000 new jobs, boosting the total employment in the sector to nearly 2.9 million, 4.7 per cent higher compared to 2019 levels.

However, Travel and Tourism now represents one in every 11 jobs in France.

WTTC report further shows that the country welcomed a significant influx of international tourists who spent €66.7 billion. 

In comparison, those domestic expenditures rose to €135 billion, surpassing 2019 by one per cent and per cent, respectively.

Based on WTTC forecasts, in the next decade, France will enjoy significant growth in the main areas, such as economic growth, employment, and spending by foreign and domestic travelers.

As a result, forecasts reveal that by 2034, the Travel and Tourism sector will boost France’s economy with around €310.5 billion, which is equal to 9.6 per cent of the total economic output. 

In addition, the sector is also expected to be a major driver of job creation, employing around 3.4 million people across the country – 11 per cent.

Previous data from WTTC unveiled that since international arrivals in France for the first half of 2024 were at 93 per cent of the same period in 2019, the latter decided to maintain its position as the most popular destination in the world for international arrivals in 2024.

Source : https://schengen.news/frances-travel-tourism-sector-broke-records-in-2023-aims-to-surpass-them-this-year/