Travel and Tourism Industry to Generate 392,000 Jobs in Panama this Year

 
986Views 0Comments Posted 23/06/2024

The World Travel and Tourism Council estimates that activity in Panama will be reinforced by air connectivity and the interest of visitors in discovering a sustainable destination.  The generation of jobs through the travel and tourism industry in Panama this year will amount to 392 thousand people, for a contribution of 13.5 billion dollars to the local economy, which will represent a contribution of 19.5% to the gross domestic product.  This is estimated by a study carried out by the World Travel and Tourism Council (WTTC), based in London, England, together with Oxford Economics, which highlights the great potential that the country has to attract tourists by air and sea and reinforce the commitment to a sustainable destination in which nature is highlighted. 

 

Last year, employment in the tourism sector, including hotels, restaurants, transportation, among other related activities such as air transportation, was 380,000 people, which is equivalent to 47,500 additional jobs than those registered before the pandemic in the year 2019.  The country stood out last year among the 98 destinations that broke records in terms of the economic contribution of this industry to the GDP.  Panama is consolidating itself as one of the most resilient countries globally, in terms of tourism. With positive figures, it reinforces the role of this sector as a pillar for social development and the growth of its economy, while continuing to be a global tourism benchmark. 

 

Spending by international visitors in Panama will reach a historic high with 9.4 billion dollars, an increase of more than 23% compared to 2019.  Likewise, spending on domestic tourism is expected to achieve a record of 2.2 billion dollars.  It is also revealed that by 2034 the Panamanian tourism industry will be valued at 19.1 billion dollars.  

 

In Panama, it is expected that 472 thousand people will be employed in the tourism sector within a decade.  There are sectors such as luxury tourism that are growing in Panama and Copa Airlines represents a third of the air connections that exist, directly generating 150 thousand tourists who come to Panama through the StopOver program.  It is also specified that there is great interest among young generation Z tourists in visiting destinations full of nature like Panama.