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Oceania's Tourism Sector Set for $112B Growth in Eco-Friendly Initiatives

2024-10-18 09:48:24.841000

Oceania's travel and tourism sector is poised for significant growth, with the potential to add an impressive US$112 billion over the next decade, bringing the total to US$336 billion by 2034. According to a recent report from the World Travel & Tourism Council (WTTC), this growth is expected to create 1.1 million new jobs, resulting in a total of 3.5 million jobs in the sector [e948c7d4].

The WTTC forecasts an annual growth rate of 3.2% for Oceania's tourism sector, which outpaces the broader economy's projected growth of 2.9%. By the end of 2024, the industry is anticipated to grow by 16.5% above pre-pandemic levels, reaching US$224 billion in total spending [e948c7d4].

Australia is leading the recovery in the region, although full recovery of international visitor spending is not expected until 2025. The employment forecast indicates that the sector will exceed pre-pandemic employment figures by 4.8%, employing approximately 2.3 million people [e948c7d4].

To support this growth, significant investments are needed in air connectivity, airport expansions, and sustainable infrastructure. The WTTC emphasizes the importance of protecting local communities and ecosystems as the tourism sector expands [e948c7d4].

This focus on eco-friendly tourism positions Oceania as a potential global leader in sustainable travel, aligning with increasing consumer preferences for environmentally responsible travel options. The region's commitment to sustainability will be crucial in attracting eco-conscious travelers and ensuring long-term viability for its tourism industry [e948c7d4].

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