U.S. Travel Sector Flourishes Economically and Environmentally in 2024
The U.S. travel and tourism sector showcased an impressive performance in 2024, achieving simultaneous economic growth and reduction in greenhouse gas emissions. This data, provided by the World Travel & Tourism Council (WTTC), reveals a 1.8% annual increase in the sector’s GDP between 2019 and 2024, alongside a 1.7% decline in emissions.
This encouraging trend signifies an early “decoupling” between economic growth and environmental impact within the travel industry. The analysis shows a consistent decrease in emissions intensity, dropping from 0.38kg of CO2e per USD of GDP in 2019 to a mere 0.32kg in 2024. Furthermore, the sector’s energy mix saw an improvement in the share of low-carbon energy, rising to 5.2% in 2024, a slight increase from 5.1% in 2023.
Employment opportunities for the youth in the sector also saw an upward trend, escalating from 3.5 million in 2023 to 3.54 million in 2024, marking a 1.1% year-over-year gain. Young workers constituted 23.7% of direct travel and tourism employment in the U.S., a figure significantly higher than the overall U.S. average of 13.1%.
The data reflects promising progress as the travel sector strives for long-term sustainable growth, all while maintaining its crucial economic contribution to the American economy.
Source: Hospitality Net