Global travel industry seen 'resilient' despite slowing growth

BERLIN - The global travel industry is likely to expand by 4 percent in 2019 despite slowing economic growth in key areas such China and Europe, but a no-deal Brexit could wipe out 700,000 travel-related jobs, a top industry association said on Tuesday.

Based on data from 185 countries, the group forecasts steady growth of 4 percent this year, given continued demand from China, the second largest travel and tourism market behind the United States, and other countries in Asia. Travel and tourism’s contribution to Britain’s gross domestic product grew by just 1 percent in 2018, while overall GDP expanded 1.4 percent. The sector accounted for $311 billion in GDP in 2018, or about 11 percent of overall GDP.

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