WTTC Reports 43 Million Workforce Shortfall in Travel and Tourism by 2035

What's Happening?

The World Travel & Tourism Council (WTTC) has released a report indicating that while the travel and tourism sector is projected to create 91 million new jobs by 2035, it will face a significant workforce shortfall of 43 million workers globally. The report, titled 'Future of the Travel & Tourism Workforce,' was unveiled at the WTTC's 25th Global Summit in Rome. It highlights that despite the sector's robust job creation, demographic and structural changes are expected to result in a 16% gap between labor demand and supply. The hospitality industry, in particular, is anticipated to experience an 8.6 million worker deficit, with lower-skilled roles being the hardest to fill. The report draws on research from 20 economies, with China, India, and the EU facing the largest absolute shortages.

Why It's Important?

This development is crucial as it underscores the challenges the travel and tourism industry will face in sustaining its growth trajectory. The projected workforce shortfall could hinder the sector's ability to meet rising demand, potentially impacting global economic contributions. The shortage is particularly concerning for lower-skilled roles, which are essential yet difficult to automate. This situation calls for strategic collaboration between governments, educational institutions, and industry stakeholders to address labor market imbalances. The report serves as a call to action to implement policies that can bridge the gap and ensure the sector remains a significant job creator.

What's Next?

The WTTC plans to work with global government officials to develop policies aimed at reducing the workforce gap. This includes initiatives to attract and retain talent, particularly in lower-skilled positions. The report suggests that investment in training and education will be critical to preparing the workforce for future demands. Additionally, countries like Saudi Arabia are highlighted as examples of successful workforce development, with significant investments in training and a focus on increasing female participation in the sector.