Foreword This insight report arrives at a crucial moment for the travel and tourism (T&T) sector. Today, T&T is at a crossroads, facing a complex landscape filled with new opportunities and a variety of challenges. The sector is projected to serve about 30 billion tourist visits and contribute $16 trillion to global GDP by 2034 – more than 11% of the world’s economy. This remarkable trajectory, coupled with T&T’s impacts, extending far beyond its substantial economic contributions, presents unprecedented possibilities. The sector encompasses cultural exchange, social connection and personal enrichment – all catalysts for positive global change. It is a vital engine of growth, deeply interconnected with a wide array of industries and crucial to the well-being of communities and individuals. However, this path forward is not without its challenges. The past five years have been tumultuous, including worldwide disruptions, geopolitical tensions and the COVID-19 pandemic. Yet through it all, the sector has demonstrated remarkable resilience and resourcefulness, and, as a result, it is more important than ever to the global economy. This report proposes a set of guiding principles aimed at fostering a transformed and more sustainable industry; it delves into the enablers and potential areas for intervention that can help achieve these goals. It also details tension points, including environmental impacts, the need for investments and workforce challenges. By bringing together our diverse perspectives and expertise to address the industry’s multifaceted evolution, we explore the biggest trends shaping the future, from the transformative power of new technologies to evolving traveller profiles and the rise of new growth segments. Over the next decade, T&T’s path will hinge on the collaborative action of all stakeholders, and the environment created to allow those partnerships to flourish. Governments, businesses, travellers and communities must work together to create an industry that not only fuels economic prosperity but also encourages cultural understanding, environmental regeneration and inclusive growth. We are optimistic that this extraordinary opportunity can be realized. With thoughtful collaboration and strategic action, the travel and tourism sector can achieve its remarkable potential while addressing the challenges that lie ahead, producing lasting value for economies, communities and travellers worldwide.Børge Brende President and Chief Executive Officer, World Economic Forum Travel and Tourism at a Turning Point: Principles for Transformative GrowthJuly 2025 Ahmed Al-Khateeb Minister of Tourism, Kingdom of Saudi Arabia Bob Willen Global Managing Partner and Chairman, Kearney Travel and Tourism at a Turning Point: Principles for Transformative Growth 3

Travel and Tourism at a Turning Point 2025