The annual Cities Report from the World Travel & Tourism Council (WTTC), which was released yesterday, shows that Macau was the second fastest growing city in 2017, in terms of travel and tourism GDP contribution, recording 14.2 percent. The SAR was behind Cairo, which recorded 34.4 percent in the sector’s GDP contribution.
The report covers 72 of the world’s most important tourism cities, which together generated over USD625 billion in GDP contributions last year (24.3 percent of global travel and tourism GDP).
The world’s top 10 cities in terms of tourism market size are: Shanghai (USD35 billion), Beijing (USD32.5 billion), Paris (USD28 billion), Orlando (USD24.8 billion), New York (USD24.8 billion), Tokyo (USD21.7 billion), Bangkok (USD21.3 billion), Mexico City (USD19.7 billion), Las Vegas (USD19.5 billion) and Shenzhen (USD19 billion).
The world’s top 10 cities in terms of job creation are: Jakarta, Beijing, Mexico City, Shanghai, Bangkok, Chongqing, Delhi, Mumbai, Ho Chi Minh City and Shenzhen.
WTTC president and CEO Gloria Guevara said, “With 54 percent of the world’s population living in urban areas, cities have become global economic hubs, driving growth and innovation. They attract huge quantities of people who travel to experience their culture, do business and live. This growth has also resulted in a rise in city tourism – a trend which is forecasted to maintain momentum.
“Our report highlights the crucial importance of cities to travel and tourism worldwide, and likewise how vital this sector is to the economy. Over half a billion trips are made to cities annually, representing 45 percent of global international travel.”
The report shows that four of the five fastest growing cities over the past 10 years are located in China, which include Chongqing, Chengdu, Shanghai and Guangzhou.
Shanghai was ranked as the largest city by travel and tourism volume in 2017. By 2027, travel and tourism’s direct contribution to GDP in Shanghai is expected to be double the size of Paris’.
Meanwhile, Bangkok (50.4 percent), Paris (29.8 percent), Mexico City (24.0 percent) and Tokyo (20.2 percent) are the biggest contributors to their country’s travel and tourism GDP.
The annual report also noted that Chinese cities have matured rapidly over the past decade and are forecast to continue dominating the growth charts between 2017 and 2027.
The WTTC also predicted that Chinese domestic and outbound markets would drive growth in the coming decade, with the majority of top performers maintaining their positions.
It added that Chinese cities would continue to lead, although a slowdown in growth is expected. With the exception of Marrakech, in the coming decade the top 10 fastest growing cities for travel and tourism GDP are in the Asia-Pacific.
“Planning for and managing growth so that it is inclusive and sustainable – with the well-being of the communities who live and work in such cities at its core – needs to be the top priority for city governments, working in partnership with the private sector,” said Guevara.
The WTTC presented the report yesterday at the WTTC Asia Leaders Forum held at MGM Cotai. The event was attended by influential members of the tourism industry.
The seventh Global Tourism Economy Forum will kick off today at MGM Cotai, with the European Union as partner region.