April 4 (SeeNews) - The direct contribution of Macedonia's tourism and travel sector to the country's gross domestic product (GDP) is expected to increase by 6.4% year-on-year in 2018, The World Travel&Tourism Council (WTTC) has said.
In 2017, tourism generated 11.2 billion denars ($206.3 million/182.3 million euro) revenue, equivalent to 1.8% of total GDP, the WTTC said in its Travel&Tourism Economic Impact 2018 report on Macedonia.
The total contribution of Macedonia's tourism and travel sector to the country's GDP was 42.2 billion denars, or 6.6% of GDP, in 2017. The sector's total contribution is expected to rise by 6.4% in 2018.
WTTC ranks Macedonia 139th out of 185 countries worldwide in terms of the tourism and travel sector's total contribution to GDP in 2017.
In 2028, the sector's direct contribution to Macedonia's GDP is projected at 1.9%, while its total contribution is forecast at 7.6% of GDP.
Investments in Macedonia's tourism sector are seen rising 4.6% in 2018 from 5.5 billion denars in 2017. WTTC forecasts that investments in the sector will continue to grow over the next ten years and reaching 10.5 billion denars in 2028.
Macedonia's tourism and travel sector directly supported 12,000 jobs last year. In 2018, the sector is expected to directly support 3.7% more jobs.
(1 euro = 61.43 denars)