The global hotel construction pipeline reached an all-time high at the end of 2023 with a record number of projects and millions of rooms under development.At the heart of this ecosystem are core tourism actors such as hospitality providers, airlines, cruise operators, tour organizers and destination management authorities. These stakeholders generate direct employment, provide travel and tourism goods and services and drive infrastructure investment. However, they do not operate in isolation. Hotels depend on utilities and local infrastructure. Airlines require functioning regulatory systems. Tour operators rely on preserved natural and cultural sites as well as the support of local communities. Their success is inherently linked to the capabilities and conditions created by enabling and adjacent sectors and activities. Enabling sector and activities provide intermediary and downstream products, services and infrastructure that enable the functioning of the T&T operations. Technology providers supply platforms for booking, data analysis and experience design. Financial institutions help manage transactions, provide credit and underwrite infrastructure investment. Emerging empirical studies are finding that the expansion of digital inclusive finance is associated with stronger tourism development and efficiency, in part by easing financing constraints for SMEs and reducing payment frictions for visitors.4 At the same time, financial players also benefit directly from the sector. International payment processing, cross-border fees and currency conversion are key revenue drivers: for example, cross-border travel and international online orders may account for over a third of revenue for leading global payment network providers.5 Construction firms build transport networks, accommodation stock and cultural venues. Tourism growth also depends on and acts as a catalyst for real estate development and urban renewal. The demand for hotels, resorts and holiday properties spurs construction and investment across the property sector. The global hotel construction pipeline reached an all-time high at the end of 2023 with a record number of projects and millions of rooms under development. Hospitality real estate investment has surged alongside the tourism rebound, with global hotel investment volume reaching $57.3 billion in 2024, a 7% increase over the previous year.6 Tourism also boosts residential markets through demand for short-term rentals and second homes. The global holiday rental market, comprising holiday properties offered through platforms such as Airbnb, was valued at around $94 billion in 2024 and is forecast to exceed $134 billion by 2034.7 In many destinations, such tourism-related real estate development not only creates new accommodation and attractions but also leaves lasting benefits for communities through improved infrastructure, higher property values and revitalized city districts that serve locals and visitors alike.8Adjacent sectors and activities are interconnected with and benefit from T&T operations, often providing upstream goods and services that can drive T&T demand. These relationships demonstrate tourism’s far-reaching economic impact across multiple industries. –Food and agriculture represent one of tourism’s most significant adjacent connections. Food and drink are defining elements of the visitor experience: travellers spend between 15% and 35% of their budgets on food,9 and food- focused travellers spend on average 25% more than other segments. Local cuisines are central to destination appeal, with 81% of travellers saying that trying local food is the part of travel they most anticipate. This demand reshapes agricultural production: one study found that an 8% increase in tourist food consumption per meal required nearly 50% more arable land, much of it for animal-based foods. The global agritourism market was valued at $73 billion in 2024 and is projected to surpass $200 billion by 2033.10 –Healthcare systems benefit significantly from tourism-driven investment. Medical tourism has become a multibillion-dollar sector, with the global market valued at about $41.7 billion in 2024 and forecast to grow by more than 16% annually through 2035.11 Revenues from this flow of international patients support the expansion of hospitals, training of medical staff and broader service improvements that also benefit residents. Türkiye illustrates this dynamic vividly: in 2023 the country treated roughly 1.5 million foreign patients, generating more than $3 billion in revenue from medical tourism.12 Such growth reflects deliberate government policy and sustained healthcare investment, positioning Türkiye as one of the world’s leading destinations for cross-border medical care. –Arts and culture are among the biggest beneficiaries of global tourism. Cultural tourism represents about 40% of all international travel, reflecting a growing appetite among visitors for heritage, art and cultural experiences worldwide.13 This steady flow of travellers sustains museums, historic landmarks, festivals and creative industries in many destinations. Cultural tourists tend to be higher-value visitors who, on average, spend 38% more per day and stay 22% longer than other segments, creating deeper and more enduring economic benefits.14 The cultural tourism market is immense, projected to reach $1.2 trillion in 2025 and expected to grow to $2.6 trillion by 2035, channelling vast revenue into cultural preservation and the creative economy.15 The Louvre Museum in Paris demonstrates this global dynamic clearly: in 2022, it welcomed 7.8 million visitors, of which 70% came from outside France, underscoring how international tourism directly supports cultural institutions and the livelihoods of local artists and cultural workers.16 Beyond Tourism: Coordinated Pathways to Inclusive Prosperity 9

Beyond Tourism Coordinated Pathways to Inclusive Prosperity 2025