Turizmus.com summarises the latest results of the 2018 report of the World Travel & Tourism Council (WTTC) examining the global and domestic impact of tourism in 185 countries including Hungary. According to the results of the research, the positive tendency witnessed in the tourism of Hungary is going to continue in the future, and an even greater growth is expected in some domains in subsequent years.
The World Travel & Tourism Council is a global body that brings together those involved in the Travel & Tourism sector and publishes annual reports analysing the global and domestic impact of tourism in the examined countries. This year, the WTTC’s Annual Economic Report examined 185 countries and 25 regions in the world capturing both the direct and induced impacts of tourism present there.
In this graph, you can take a look at the correlation established by the WTTC about how the different direct and indirect factors of tourism contribute to the growth experienced in society and economy.
Hungary was also among the researched countries, and a 24-page-long analysis was published about it. According to the results, the total contribution of the Hungarian tourism to the GDP was 2.4 % in 2017, but it is anticipated that it is going to rise to 3.0 % this year.
Furthermore, as it is forecast, a 2.1% increase can also be expected by 2028.
Considering the direct economic impact of tourism on the country, the report shows that the total contribution of tourism to the GDP was 8.0 % in 2017, which is a considerable result.
The report further highlights that it is not only the economic impact of tourism that is going to augment in the future but its impact on the field of employment as well. In fact, the tourism industry provided 157,000 jobs to Hungarians in 2017, which accounts for 3.5 % of the total employment in the country. However, it is forecast that this year, the number of Hungarians working in tourism can augment with another 2.7%, while by 2028, altogether 186,000 jobs will be created in this sector providing more employment opportunities than before.
This is undoubtedly good news since a growing tendency has also been witnessed in the number of tourists visiting Hungary, which has a direct influence on the country’s tourism. While this year, 17,427,000 tourists are expected to visit Hungary, this number can increase to 20,185,000 by 2028.
The results mentioned above seem to be very promising, but it is also worth examining what all these mean in the world ranking. Considering the total contribution of the country to the GDP in 2017, Hungary became 60th out of the 185 participants, while regarding the contribution of tourism to the field of employment, Hungary ranked 74th on the list.
All in all, the report confirms that the increasing tendency experienced in tourism is likely to continue in Hungary, and it is great to see how many areas are positively influenced by it. If you are interested in reading the whole report concerning Hungary, then you can find it here.
Featured image: Bódis Krisztián facebook/Budapest Images