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Industry talent shortage may put 14 million jobs at risk: WTTC

World economy to lose US$610 billion in GDP

The World Travel and Tourism Council (WTTC) is warning international governments and private sector companies that the global travel and tourism industry could see the loss of 14 million jobs and US$610 billion in worldwide GDP over the next ten years if they fail to implement policies which “promote proactive and careful talent management”.


Research by Oxford Economics concluded that there is a serious shortage of the right people, in the right place, with the right skills, to meet the growth of travel and tourism over the next ten years.


And, apparently when it comes to human capital challenges, our industry has got it harder than a lot of other sectors, the research reveals.


"We are a people industry which depends on quality people to deliver a quality product to our customers,” WTTC chief executive David Scowsill said.


“I urge anyone with an interest in our great industry to act now to address the anticipated talent shortage.


"We need the right policies, programmes and partnerships in place, to ensure that the workforce of the future knows about the opportunities in our sector, and has the appropriate skills and knowledge to support future growth."


The travel and tourism industry currently sustains 266 million jobs, a figure projected to rise to 347 million by 2024.


Similarly, the industry contributed nearly $7 trillion to the global economy in 2014, which is forecast to rise to $11 trillion by 2024.


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Written by: Gaya Avery
Published: 23 February 2015

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