globalEDGE Blog - By Tag: maldives

As many people go around the world to travel and enjoy the scenery of various attractions, we are starting to see how the traveling industry has shifted towards getting a better understanding of what travelers want in their destination. The market size for tourism has been making a comeback over the last few years since the pandemic, regaining their sector amount from $0.8 trillion in 2020 back up to $2 trillion in 2024. On top of it, WTTC announced this year that the travel industry has put approximately $11.1 trillion toward the global GDP. Travel and tourism will take over 11.4% of the economy by 2034, leading to a $16 trillion contribution. But now the question is, what makes this industry appealing for travelers to visit various countries?

Over the past decade South Asia has experienced rapid economic growth, but its infrastructure growth has not kept pace. The World Bank recently came out with a report, “Reducing Poverty by Closing South Asia’s Infrastructure Gap,” which found that countries in South Asia need to invest up to $2.5 trillion in order to bridge the infrastructure gap in the next ten years. An infrastructure gap is the difference between a country’s development goals and its actual capability to obtain those goals.