In 2019, Macau generated the highest share of GDP through direct travel and tourism of any other economy worldwide, with over half its GDP coming from this sector. Macau is a city and a special administrative region of the People's Republic of China - its economy is largely based on casino gaming and tourism. The nation with the second highest share of GDP generated by direct travel and tourism was the Maldives. The country began to develop its travel and tourism industry in 1970s and now over 30 percent of GDP is coming from this sector in 2019.
What is GDP?
GDP is the total value of all goods and services produced in a country in a year. It is considered an important indicator of the economic strength of a country and a positive change is an indicator of economic growth.
What is direct contribution to GDP?
The direct contribution of travel and tourism to GDP reflects the ‘internal’ spending on travel and tourism (total spending within a particular country on travel and tourism by residents and non-residents for business and leisure purposes) as well as government 'individual' spending - spending by government on travel and tourism services directly linked to visitors, such as cultural (e.g. museums) or recreational (e.g. national parks).
Countries with the highest share of GDP generated by direct travel and tourism worldwide in 2019
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WTTC. (February 3, 2020). Countries with the highest share of GDP generated by direct travel and tourism worldwide in 2019 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1100368/countries-highest-gdp-travel-tourism/
WTTC. "Countries with the highest share of GDP generated by direct travel and tourism worldwide in 2019." Chart. February 3, 2020. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1100368/countries-highest-gdp-travel-tourism/
WTTC. (2020). Countries with the highest share of GDP generated by direct travel and tourism worldwide in 2019. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1100368/countries-highest-gdp-travel-tourism/
WTTC. "Countries with The Highest Share of Gdp Generated by Direct Travel and Tourism Worldwide in 2019." Statista, Statista Inc., 3 Feb 2020, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1100368/countries-highest-gdp-travel-tourism/
WTTC, Countries with the highest share of GDP generated by direct travel and tourism worldwide in 2019 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1100368/countries-highest-gdp-travel-tourism/ (last visited November 10, 2024)
Countries with the highest share of GDP generated by direct travel and tourism worldwide in 2019 [Graph], WTTC, February 3, 2020. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1100368/countries-highest-gdp-travel-tourism/