Nigeria travel, tourism sector to create 2.6 million jobs in 10 years, says WTTC

There is a new ray of hope for tourism and travel in Nigeria as the sector is expected to scale up Gross Domestic Product (GDP) and create an average of 260,000 employment opportunities yearly for the next decade.

According to the World Travel & Tourism Council (WTTC), Economic Impact Report released recently, “the Travel & Tourism sector in Nigeria is expected to create 2.6 million new jobs over the next decade, doubling the number of those employed within the sector by 2032.

The WTTC’s forecast shows an average of nearly 260,000 new jobs will be created every year for the next 10 years, to reach more than 5.1 million.

According to the report, Nigeria’s Travel & Tourism contribution to GDP is forecasted to grow at an average rate of 5.4 per cent between 2022 and 2032, significantly outpacing the three per cent growth rate of the overall economy.

This will catapult the sector’s contribution to GDP to nearly ₦12.3 trillion by 2032, representing 4.9 per cent of the total economy.

The global tourism body’s report also provides optimism for the short-term recovery, as the sector’s contribution is set to reach near pre-pandemic levels by next year, just 3.5 per cent behind 2019 levels.

By the end of this year, the Nigerian Travel & Tourism sector’s contribution to GDP is expected to grow 10.4 per cent, to reach more than ₦7.2 trillion (3.9 per cent of the total economy), while employment in the sector is set to grow by 4.3 per cent to reach more than 2.5 million jobs.

Julia Simpson, WTTC President & CEO, said “The pandemic was catastrophic for Nigeria’s Travel & Tourism sector, wiping billions from the economy and affecting millions of livelihoods.

“Following two years of severe and highly disruptive travel restrictions which decimated the sector, the outlook for the future is much brighter, with our sector expected to create more than 2.5 million jobs over the next decade.”

Before the pandemic, Nigeria’s Travel & Tourism sector’s contribution to GDP was 4.5 per cent (₦8 trillion) in 2019, falling to just 2.8 per cent (₦4.9 trillion) in 2020, which represented a shocking 39.3 per cent loss.

The sector also supported nearly 3. 4 million jobs in 2019, falling to just below 2.2 million in 2020, when the pandemic devastated the sector.

The global tourism body’s latest EIR report also reveals that 2021 saw the beginning of the recovery for Nigeria’s Travel & Tourism sector.

Last year, its contribution to GDP climbed 35.1 per cent year on year, to reach nearly ₦6.6 trillion.
The sector also saw a recovery of 240,000 Travel & Tourism jobs, representing a positive rise of 11.3 per cent to more than 2.4 million.

The sector’s contribution to the economy and employment could have been higher if it weren’t for the impact of the Omicron variant, which led to the recovery faltering around the world, with many countries reinstating severe travel restrictions.