TOURISM AS AN ECONOMIC DRIVER: A GLOBAL HEAVYWEIGHT

After two years of the coronavirus pandemic, international tourism is clearly showing signs of recovery. According to the UNWTO's 2022 World Tourism Barometer, nearly 250 million international travellers were recorded in the first five months of 2022. This puts the travel industry almost at the pre-crisis level of 2019 and back on track for success:

  • 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. Before the corona crisis, it generated a gross value added of more than 105 billion euros and provided jobs for three million people. 

In the EU Mediterranean countries, the travel industry provides jobs and prosperity in a special way - with 27 million guests per year (before the pandemic) and multimillion investments, the TUI Group has a significant share in this. 

EMPLOYMENT THROUGH TOURISM

Share in total employment: direct, indirect and induced effects 2019.

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

TOURISM IS THE MOST EFFECTIVE FORM OF DEVELOPMENT COOPERATION

Tourist spending exceeds global development aid by a factor of almost four - and the trend is rising sharply.


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. Especially for the restart of tourism after the pandemic, TUI is 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.


GOVERNMENT LOANS ARE REPAID

After difficult years following the coronavirus pandemic, TUI is profitable again, creating the basis for new growth as well as servicing its government loans. In June 2022, following a capital increase, the tourism group repaid Silent Participation II to the Economic Stabilisation Fund, including interest totaling 725 million euros. In addition, the undrawn KfW credit lines were reduced by a further 300 million euros to 2.1 billion euros.