The travel and tourism sector is on an exciting journey of transformation. Emerging from the challenges posed by the COVID-19 pandemic, the industry is not just recovering; it’s thriving! While some mixed sentiments linger, recent news and reports highlight a wave of optimism, showcasing the incredible potential of this vibrant sector.

As one of the largest industries globally, contributing over 10% of total jobs and projected to grow significantly in the coming years, travel and tourism is poised for "good growth”. This means economic expansion that uplifts not only corporations, but also local communities, travellers and our environment. To realize this vision, it’s essential to harness the sector's full potential by looking at it holistically, foster collaboration across its diverse ecosystem, and also tackle some misconceptions.

Here are seven current travel and tourism myths debunked:

1. Slow recovery from COVID-19: Contrary to belief, 2024 is set to surpass previous national travel spending records in over 140 countries, signalling a robust rebound.

2. International dominance: Actually, domestic travellers account for approximately 75% of total spending in travel and tourism, highlighting the strength of local exploration.

3. Business travel in decline: The global business travel industry is instead expected to reach around $1.5 trillion in spending by 2024, with forecasts suggesting growth to $2 trillion by 2028.

4. Benefits limited to developed countries: Emerging economies capture today nearly half of global tourism flows, making tourism a top-five export earner for 80% of nations worldwide.

5. Large corporations reap all rewards: In reality, 80% of businesses in this sector are small and medium enterprises that drive local employment and community development.

6. Jobs in decline: But forecasts predict an addition of approximately 100 million jobs in travel and tourism by 2034, which is higher than the ~350 million jobs the sector has today.

7. Big environmental impact: Reducing emissions is a key priority for travel and tourism, and the sector contributes today to about 8% of global emissions, making its environmental impact smaller than many other sectors.

These realities not only dispel myths, but also illuminate the sector’s capacity to drive economic growth, inclusive prosperity and sustainable development.