TOURISM AS AN ECONOMIC DRIVER: A GLOBAL HEAVYWEIGHT

According to the World Tourism Barometer of the United Nations World Tourism Organization (UNWTO), more than 1.3 billion international travellers were recorded in 2023 – around 88 percent of the level before Covid-19 pandemic. For 2024, the UNWTO forecasts a full recovery in tourist numbers. The travel industry is back on track for success. Two key figures on its economic importance:

  • Tourism has grown – minus the pandemic years – twice as fast as world GDP in the last 15 years.
  • Every tenth employee worldwide works in the travel and tourism industry.

The positive effects of tourism can be seen in industrialised nations as well as in emerging and developing countries. In Germany, tourism is a fundamental component of the national economy and reached new record levels in the 2022/2023 tourism year: the travel expenditure by Germans for pre-booked trips rose up to 79 billion euros – around 27 percent more than in the previous year. At the same time, tourism provides jobs for about three million people – that is almost seven percent of all employed persons in Germany. 

EMPLOYMENT IN GERMANY

Shares of selected sectors in total German employment: direct effects.

In the EU Mediterranean countries, the travel is a crucial source for the creation of jobs and prosperity – with 19 million guests per year and multimillion investments, the TUI Group has a significant share in this. 

EMPLOYMENT THROUGH TOURISM

Share of total employment: direct, indirect and induced effect, forecast 2023.

In emerging and developing countries, tourism strengthens social and environmental standards, stabilises national economies and offers enormous opportunities for economic, social and ecological development. As such, tourist spending significantly exceeds global development aid.

TOURISM IS THE MOST EFFECTIVE FORM OF DEVELOPMENT COOPERATION


TUI – a systemically important player

TUI is of great importance for tourism worldwide. In many places, the company is the largest private investor and long-term strategic partner of the destination countries. This is particularly true for regions in southern Europe and in emerging and developing countries such as Cape Verde. TUI has always been and remains a central partner – also for medium-sized companies. For example, the travel group is the largest commission provider for German travel agencies and, with its online platform TUI Musement, arranges excursions for tens of thousands of excursion micro-enterprises worldwide. In holiday destinations, TUI thus also helps to stabilise the local tourism infrastructure and supports small and medium-sized tourism businesses on the ground. 

GERMANY: HOME OF THE TRAVEL WORLD CHAMPION

The TUI Group is the only company in the world that offers the value chain in the travel sector end-to-end: from advice on how to get there by plane, the vacation experience in the hotel or on the ship, to activities, service, transfers and support for guests at the vacation destination.

The Group provides special support in countries with weak development through the TUI Care Foundation. Since 2016, the foundation has initiated and promoted over 100 projects in 30 countries worldwide: The focus is always harnessing the potential of tourism as a driver for development, education and prosperity. Recently, the foundation announced the “Tourism for Development Fund” together with the UNWTO. The fund aims to promote sustainable tourism development in the least developed countries (LDCs), and the TUI Care Foundation will provide around 10 billion euros for this purpose until 2030. 

"Least Developed Countries have an enormous untapped tourism potential which is an important opportunity for their economic, social and environmental sustainability. We want to put destinations in LDCs on the global tourism map."

Thomas Ellerbeck, Chairman of the TUI Care Foundation


Profitable again: record turnover for TUI in 2023

After difficult years in the wake of the Covid-19 pandemic, TUI Group is profitable again. Turnover in the 2023 financial year reached a record level of EUR 20.7 billion and was significantly higher than pre-crisis turnover (2019: EUR 18.9 billion). The Group looks back on a strong summer with 19.1 million guests – around 13 percent more than in the previous year. The current booking trend also allows the Group to look ahead to 2024 with confidence.