The World Travel & Tourism Council (WTTC) has welcomed the launch of the new Oxford Street traffic-free zone in London, supporting its view that the city is a strong model for growth in Europe and focused on attracting more tourism.
As global Travel & Tourism industry leaders gather for the World Travel Market (WTM) in London, WTTC is forecasting that the sector will grow in Europe by 3.1% in 2026, continuing to outperform the wider economy and exceeding the sector’s 2.6% growth recorded last year.
London is leading the way. The city welcomed an estimated 16.4 million international visitors in 2025, one of the highest visitor totals of any city worldwide.
WTM coincides with a landmark investment in the visitor experience. Just days before the event begins, almost a kilometre of Oxford Street has become permanently traffic-free, delivered by the Mayor of London through the Oxford Street Development Corporation, supported by the UK Government.
Gloria Guevara, President & CEO of WTTC, said: “London shows what happens when government treats Travel & Tourism as a strategic priority. Transforming Oxford Street, just as the global travel sector arrives in the city, sends a powerful message that London is open, ambitious and investing in every visitor’s experience.
“Our sector is set to create around one in three of all new jobs worldwide over the next decade, but that growth is never automatic. It depends on governments putting the right conditions in place, from connectivity and infrastructure to skills.”
When announcing the pedestrianisation, the Mayor of London, Sadiq Khan, said: “It is a truly momentous occasion for the capital. Revitalising Oxford Street will boost jobs and economic growth in the capital, unlock the full potential of this key part of the West End, and help build a better, greener and more prosperous London for everyone.”
WTTC’s latest Economic Impact Research shows the opportunity for destinations that invest. International visitor spending across Europe is set to rise 5.8% in 2026, while the sector worldwide is forecast to contribute a record US$11.9 trillion to the economy, accounting for 9.9% of global GDP and supporting 375 million jobs worldwide, equivalent to one in every nine jobs.
WTTC is calling on governments to follow London’s lead, backing the sector with investment in infrastructure, skills, sustainable destination management and connectivity.
