Global investment in Travel & Tourism surpassed $1 trillion in 2025, the first time capital spending has reached that level since before the COVID-19 pandemic, according to new economic research released Wednesday by the World Travel & Tourism Council (WTTC).

The findings, part of WTTC’s latest Economic Impact Research (EIR): Global Trends Report, show that sector investment increased 8.5% year over year. This helped Travel & Tourism contribute a record $11.6 trillion to global GDP during 2025.

According to WTTC, the United States, China, India, and Saudi Arabia accounted for nearly half of all global Travel & Tourism investment, representing almost $500 billion in combined capital spending.

The organization says continued investment in transportation infrastructure, tourism facilities, destination development, and supportive government policies is strengthening the sector’s long-term growth prospects despite ongoing geopolitical and economic uncertainties.

China remains one of the largest tourism investment markets, supported by long-term national development strategies. WTTC projects the country’s Travel & Tourism investment pipeline could reach $402 billion by 2036.

India continues expanding airports, transportation networks, and tourism infrastructure while maintaining policies designed to attract domestic and international investment into the sector.

In the United States, continued infrastructure spending, strong domestic travel demand, and major international events—including the 2026 FIFA World Cup and the 2028 Los Angeles Olympic Games—are expected to support additional tourism growth over the coming years.

Saudi Arabia also remains one of the world’s fastest-growing tourism investment markets as the Kingdom advances its Vision 2030 strategy. Large-scale destination projects, regulatory reforms, and significant public and private investment have positioned tourism as a central pillar of the country’s economic diversification efforts.

WTTC President and CEO Gloria Guevara said the latest findings demonstrate a close relationship between sustained investment and tourism growth, arguing that countries prioritizing long-term tourism development are better positioned to generate employment, attract visitors, and stimulate economic activity.

Spain Among Europe’s Strongest Performers

The report identifies Spain as one of Europe’s leading tourism success stories. Travel & Tourism accounted for 15.3% of Spain’s GDP, generated approximately $130 billion in international visitor spending, and supported roughly one in seven jobs across the country.

WTTC attributes Spain’s performance to sustained public investment, including €3.4 billion in European Union recovery funding allocated to tourism sustainability, digitalization, and infrastructure improvements, alongside implementation of the country’s Tourism Strategy 2030.

Emerging Tourism Markets

Beyond the world’s largest tourism economies, the report highlights several markets expected to record strong growth during the next decade.

Indonesia is forecast to become one of the fastest-growing outbound travel markets globally, while the Netherlands is expected to experience Europe’s strongest growth in Travel & Tourism capital investment. Rwanda continues to emerge as one of Africa’s fastest-growing leisure tourism destinations.

Other countries identified for strong sector performance include Germany, Europe’s largest Travel & Tourism economy; Malta, which recorded one of the European Union’s fastest post-pandemic tourism recoveries; Singapore, a leading global business travel hub; and Thailand, where visitor spending is expected to continue expanding rapidly across Southeast Asia.

Long-Term Outlook

WTTC forecasts that Travel & Tourism could contribute $17.1 trillion to the global economy by 2036 while supporting nearly 89 million additional jobs worldwide.

The organization concludes that continued investment, improved travel policies, and government recognition of tourism as a strategic economic sector will be critical to sustaining growth over the next decade, even as global economic and geopolitical challenges continue to influence international travel.

For travelers, this investment wave means better infrastructure, new destinations, and enhanced experiences worldwide. As the industry rebounds and expands, the coming years promise exciting opportunities for exploration and discovery.