ccording to a travel and tourism Economic Index Reports (EIR) 2024 for Nigeria recently released by the World Travel and Tourism Council (WTTC), Nigeria’s travel and tourism industry is expected to contribute N9.55trn ($14.8b) this year (2024) to the nation’s economy. This translates to about 3.9 percent of the country’s Gross Domestic Product (GDP).
This is a positive for the industry in Nigeria as it indicates a 0.2 percent growth. The industry will contribute 2.71 million jobs, an increase from 1.98 million jobs in 2023.
An important aspect of the WTTC EIR shows that the bulk of travel and tourism spending in the country comes from domestic tourism. While Nigeria’s international visitors spending stood at N491.9 billion ($760m), domestic visitors’ spending was N4.95 trillion ($7.7billion).
Globally, the World Travel and Tourism Council (WTTC) is anticipating historic milestone for the travel and tourism sector this year (2024) and forecasts its global economic contribution to soar to $11.1 trillion, a figure surpassing all previous records. The research was conducted by WTTC’s 2024 in collaboration with Oxford Economic.

According to the report, the travel and tourism will contribute an additional $770 billion into the global economy compared to its previous record, solidifying its status as a dominant force in the world economy.
WTTC’s analysis shows that 142 out of 185 countries examined are expected to outperform their previous national records. The sector’s growth is also reflected in job creation, with WTTC estimating a global workforce of almost 348 million jobs, an increase of more than 13.6 million compared to 2019.
International visitor spending is projected to approach the peak levels of 2019, reaching $1.89 trillion, while domestic tourism expenditure is expected to surpass previous records, reaching $5.4 trillion.
“Against the backdrop of uncertainty, the travel and tourism sector remains a global economic powerhouse,” said Julia Simpson, president and CEO for WTTC. “This isn’t just about breaking records, we’re no longer talking about a recovery — this is a story of the sector back at its best after a difficult few years, providing a significant economic boost to countries around the world and supporting millions of jobs.”