Markets
Visualizing the Countries Most Reliant on Tourism
Visualizing the Countries Most Reliant on Tourism
Without a steady influx of tourism revenue, many countries could face severe economic damage.
As the global travel and tourism industry stalls, the spillover effects to global employment are wide-reaching. A total of 330 million jobs are supported by this industry around the world, and it contributes 10%, or $8.9 trillion to global GDP each year.
Today’s infographic uses data from the World Travel & Tourism Council, and it highlights the countries that depend the most on the travel and tourism industry according to employment—quantifying the scale that the industry contributes to the health of the global economy.
Ground Control
Worldwide, 44 countries rely on the travel and tourism industry for more than 15% of their total share of employment. Unsurprisingly, many of the countries suffering the most economic damage are island nations.
At the same time, data reveals the extent to which certain larger nations rely on tourism. In New Zealand, for example, 479,000 jobs are generated by the travel and tourism industry, while in Cambodia tourism contributes to 2.4 million jobs.
Rank | Country | T&T Share of Jobs (2019) | T&T Jobs (2019) | Population |
---|---|---|---|---|
1 | Antigua & Barbuda | 91% | 33,800 | 97,900 |
2 | Aruba | 84% | 35,000 | 106,800 |
3 | St. Lucia | 78% | 62,900 | 183,600 |
4 | US Virgin Islands | 69% | 28,800 | 104,400 |
5 | Macau | 66% | 253,700 | 649,300 |
6 | Maldives | 60% | 155,600 | 540,500 |
7 | St. Kitts & Nevis | 59% | 14,100 | 53,200 |
8 | British Virgin Islands | 54% | 5,500 | 30,200 |
9 | Bahamas | 52% | 103,900 | 393,200 |
10 | Anguilla | 51% | 3,800 | 15,000 |
11 | St. Vincent & the Grenadines | 45% | 19,900 | 110,900 |
12 | Seychelles | 44% | 20,600 | 98,300 |
13 | Grenada | 43% | 24,300 | 112,500 |
14 | Former Netherlands Antilles | 41% | 25,700 | 26,200 |
15 | Belize | 39% | 64,800 | 397,600 |
16 | Cape Verde | 39% | 98,300 | 556,000 |
17 | Dominica | 39% | 13,600 | 72,000 |
18 | Vanuatu | 36% | 29,000 | 307,100 |
19 | Barbados | 33% | 44,900 | 287,400 |
20 | Cayman Islands | 33% | 12,300 | 65,700 |
21 | Jamaica | 33% | 406,100 | 2,961,000 |
22 | Montenegro | 33% | 66,900 | 628,100 |
23 | Georgia | 28% | 488,200 | 3,989,000 |
24 | Cambodia | 26% | 2,371,100 | 16,719,000 |
25 | Fiji | 26% | 90,700 | 896,400 |
26 | Croatia | 25% | 383,400 | 4,105,000 |
27 | Philippines | 24% | 10,237,700 | 109,600,000 |
28 | Sao Tome and Principe | 23% | 14,500 | 219,200 |
29 | Bermuda | 23% | 7,800 | 62,300 |
30 | Albania | 22% | 254,300 | 2,880,000 |
31 | Iceland | 22% | 44,100 | 341,200 |
32 | Greece | 22% | 846,200 | 10,420,000 |
33 | Thailand | 21% | 8,054,600 | 69,800,000 |
34 | Malta | 21% | 52,800 | 441,500 |
35 | New Zealand | 20% | 479,400 | 4,822,000 |
36 | Lebanon | 19% | 434,200 | 6,825,000 |
37 | Mauritius | 19% | 104,200 | 1,272,000 |
38 | Portugal | 19% | 902,400 | 10,197,000 |
39 | Kiribati | 18% | 6,600 | 119,000 |
40 | Gambia | 18% | 129,600 | 2,417,000 |
41 | Jordan | 18% | 254,700 | 10,200,000 |
42 | Dominican Republic | 17% | 810,800 | 10,848,000 |
43 | Uruguay | 16% | 262,500 | 3,474,000 |
44 | Namibia | 15% | 114,600 | 2,541,000 |
Croatia, another tourist hotspot, is hoping to reopen in time for peak season—the country generated tourism revenues of $13B in 2019. With a population of over 4 million, travel and tourism contributes to 25% of its workforce.
How the 20 Largest Economies Stack Up
Tourist-centric countries remain the hardest hit from global travel bans, but the world’s biggest economies are also feeling the impact.
In Spain, tourism ranks as the third highest contributor to its economy. If lockdowns remain in place until September, it is projected to lose $68 billion (€62 billion) in revenues.
Rank | Country | Travel and Tourism, Contribution to GDP |
---|---|---|
1 | Mexico | 15.5% |
2 | Spain | 14.3% |
3 | Italy | 13.0% |
4 | Turkey | 11.3% |
5 | China | 11.3% |
6 | Australia | 10.8% |
7 | Saudi Arabia | 9.5% |
8 | Germany | 9.1% |
9 | United Kingdom | 9.0% |
10 | U.S. | 8.6% |
11 | France | 8.5% |
12 | Brazil | 7.7% |
13 | Switzerland | 7.6% |
14 | Japan | 7.0% |
15 | India | 6.8% |
16 | Canada | 6.3% |
17 | Netherlands | 5.7% |
18 | Indonesia | 5.7% |
19 | Russia | 5.0% |
20 | South Korea | 2.8% |
On the other hand, South Korea is impacted the least: just 2.8% of its GDP is reliant on tourism.
Travel, Interrupted
Which countries earn the most from the travel and tourism industry in absolute dollar terms?
Topping the list was the U.S., with tourism contributing over $1.8 trillion to its economy, or 8.6% of its GDP in 2019. The U.S. remains a global epicenter for COVID-19 cases, and details remain unconfirmed if the country will reopen to visitors before summer.
Meanwhile, the contribution of travel and tourism to China’s economy has more than doubled over the last decade, approaching $1.6 trillion. To help bolster economic activity, China and South Korea have eased restrictions by establishing a travel corridor.
As countries slowly reopen, other travel bubbles are beginning to make headway. For example, Estonia, Latvia, and Lithuania have eased travel restrictions by creating an established travel zone. Australia and New Zealand have a similar arrangement on the horizon. These travel bubbles allow citizens from each country to travel within a given zone.
Of course, COVID-19 will have a lasting impact on employment and global economic activity with inconceivable outcomes. When the dust finally settles, could global tourism face a reckoning?
Markets
Graphene: An Investor’s Guide to the Emerging Market
The market value of graphene could reach $3.75 billion by 2030. As the emerging industry shows fast growth, it also faces obstacles.


Graphene: An Investor’s Guide to the Emerging Market
Graphene is an atomic-scale “honeycomb” that is revolutionizing the world of materials and capturing investor attention.
Experts predict that its market value could reach the billion-dollar threshold by 2027 and soar to a staggering $3.75 billion by 2030.
In this infographic sponsored by HydroGraph, we dive into everything investors need to know about this exciting industry and where it’s headed.
Promising Properties
Graphene possesses several unique physical properties which contribute to its wide range of potential applications.
- 200 times stronger than steel
- Harder than diamonds
- 1,000 times lighter than paper
- 98% transparent
- Higher electrical conductivity than copper
- Heat conductivity: 5 times that of copper
- 2,630 m² of surface area per gram
Since its first successful isolation in 2004, graphene’s properties have opened the doors to a multitude of commercial applications and products.
Applications of Graphene
Graphene has permeated numerous sectors like electronics, energy, and healthcare because of its impressive array of end uses.
Industry | Revenue CAGR of Graphene Across Industries, 2022-2027 |
---|---|
Biomedical and Healthcare | 52% |
Electronics and Telecommunications | 34% |
Energy | 25% |
Aerospace and Defense | 16% |
Other End-User Industries | 17% |
Graphene’s antibacterial properties make it highly suitable for medical instruments and implants. Furthermore, it has shown remarkable potential in helping treat diseases such as cancer.
Another one of the material’s applications is its ability to emit high-speed light pulses, or to combine graphene’s thinness and high-conductivity to create the tiniest possible light sources.
All in all, it’s difficult to sum up graphene’s properties and potential applications in one place. The supermaterial has been covered and cited in thousands of academic journals, and comes up with over 2 million search results on Google Scholar.
Graphene Commercialization
Graphene has evolved from a scientific breakthrough to a commercial reality in less than two decades, putting it firmly on the radar of many future-focused investors.
But despite the strides the industry is making, it is still in its infancy, and therefore challenges exist on the path to widespread adoption. Here are the top five commercialization obstacles perceived by industry players.
Obstacle | % of survey respondents |
---|---|
Cost | 31% |
Production Methods, Scaling, and Distribution | 21% |
Material Quality/Consistency | 17% |
Lack of Knowledge/Awareness | 15% |
Dispersion/Handling | 14% |
When transitioning cutting-edge materials from the laboratory to consumer products, challenges like these can be expected. But one company is tackling them head-on.
By producing 99.8% pure graphene, and ensuring batch-to-batch consistency, HydroGraph is helping meet the growing demand for graphene products across industries while addressing challenges like cost, scale, and quality.

Interested in learning more? Explore investment opportunities with HydroGraph now.

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