Lebanon Businessnews News

Tourism’s contribution to GDP grew 11 percent last year
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The contribution of travel and tourism to GDP was $10.4 billion last year, representing 19 percent of the Gross Domestic Product (GDP), according to the World Travel and Tourism Council (WTTC).

The sector’s contribution to GDP increased by 11 percent in 2018, compared to the preceding year.

Out of the total, $9.3 billion was generated from foreign visitors, according to the WTTC.

The total amount includes direct contributions represented by subsectors such as hotels, travel agents, airlines, modes of passenger transportation, and other indirect contributions from investment and the supply chain.

The total contribution (direct and indirect) of travel and tourism supported 394,000 jobs, accounting for 18 percent of total employment.

The leisure segment generated 95 percent of the direct contribution of travel and tourism last year, compared with five percent through spending on business travel.

According to WTTC, Iraq represented 13 percent of the inbound arrivals, ahead of the United States (nine percent), France (nine percent), and Canada (six percent).

The UAE represented around 20 percent of the outbound departures, followed by France (12 percent), Turkey (11 percent), and Syria (ten percent).
Reported by Rania Ghanem
Date Posted: Aug 01, 2019
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