global tourism
Soaring Passenger Traffic, Longer Stays: Mastercard Economics Institute on Travel in 2024
Mastercard Economics Institute | May 20, 2024
PURCHASE, N.Y. | MAY 20, 2024 – The travel sector in 2024 is breaking boundaries. Through March 2024, consumer spending on travel is robust with significant increases in passenger traffic, according to the latest global report from the Mastercard Economics Institute. Released today, “Travel Trends 2024” provides comprehensive insights into the evolving landscape of the travel industry across 74 markets. Despite fluctuating exchange rates and varying levels of affordability, the desire to travel remains stronger than ever. In 2024 the travel sector is flourishing, with nine out of the last 10 record-setting spending days in the glob...
Travel & Tourism Set to Break All Records in 2024, Reveals WTTC
The World Travel & Tourism Council | April 4, 2024
Global GDP impact predicted to exceed $11 trillion in 2024 Unprecedented job numbers expected in the sector New York, U.S.: The World Travel & Tourism Council (WTTC) is projecting a record-breaking year for Travel & Tourism in 2024, with the sector’s global economic contribution set to reach an all-time high of $11.1 trillion. According to the global tourism body’s 2024 Economic Impact Research (EIR), Travel & Tourism will contribute an additional $770BN over its previous record, stamping its authority as a global economic powerhouse, generating one in every 10 dollars worldwide. As the global sector soars past its ...
Portuguese Travel & Tourism Sector Set to Reach Record-Breaking High This Year, Says WTTC
WTTC | July 13, 2023
London, UK: The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals the Portuguese Travel & Tourism sector is projected to exceed the 2019 peak this year. According to the report, the sector is set to contribute €40.4 billion to the Portuguese economy by the end of 2023, surpassing the 2019 pre-pandemic high of €40.1 billion. WTTC is also forecasting that the sector will create around 30,000 jobs this year, only 68,000 jobs below the 2019 level of just over one million, to reach 950,000 employed by Travel & Tourism. A look back on last year Last year, the Travel & Touris...
Indisputable Success – The UAE
Maria Quintero | June 21, 2023
By Maria Quintero, Hala Matar Choufany Throughout the last decade, the UAE has established itself as a leading regional and international tourism destination. Over 22 million international visitors in 2022 - almost on par with pre-pandemic levels - along with the UAE’s game-changing infrastructure, year-round sunshine, top-class tourism attractions, and rich cultural heritage, reinstated the country’s positioning as one of the strongest business and leisure markets in the world. As of 2022, UAE, the second largest economy in the Arab world, ranked at the top of the Travel & Tourism Development Index in the MENA region and among ...
Hospitality Trends: Unveiling the Harsh Reality of Overtourism
Lionel Saul | June 15, 2023
By Lionel Saul, Tatyana Tsukanova Factors fueling the surge in tourist numbers In recent months, hospitality and tourism industry actors have been eagerly awaiting projections regarding the volume of domestic and international travelers for 2023, hoping that the numbers will reach the level of 2019. Based on current trends, it is expected that in 2023 global tourism will actually outperform 2019, which might be partly due to revenge tourism. For many actors in the industry, this is good news. However, voices have begun to denounce what is being called ‘overtourism’. For some observers, it has gotten out of hand and there are simpl...
New Report to Support Climate Action in the Tourism Sector
UNWTO | March 10, 2023
UNWTO has released a new report highlighting the progress that global tourism has made in measuring greenhouse gas emissions as well as the challenges the sector still faces. Measurement of greenhouse gas (GHG) emissions is key for climate action. However, the tourism sector as the value chain is complex, diverse and overlapping, making sure measurement challenging. The new report "Climate Action in the Tourism Sector: An Overview of Methodologies and Tools to Measure Greenhouse Gas Emissions" was developed by UNWTO with support from the Federal Ministry for the Environment, Nature Conservation, Nuclear Safety and Consumer Protection of G...
Opportunities for Tourism Due to Post-Pandemic Travel Triggers
Dr Cindy Heo | January 30, 2023
By Dr. Cindy Heo Insights from a recent research project that analyzes the post-pandemic emotional triggers behind making travel decisions. The findings highlight how people today are deciding to travel due to a desire to make human connections, find a sense of belonging, create lasting memories and undertake affordable sustainable actions. These new values of travel are opening up important opportunities for hoteliers and DMOs to create innovative and engaging offers based on quality rather than quantity of travel demand. In brief, new opportunities for tourism abound thanks to very personal, human triggers. Impact of Covid-19 on perso...
Tourism Outlook: A New Spring in Its Step?
STR | April 6, 2022
Global tourism receipts were well below the pre-pandemic level in 2021 as travel restrictions and uncertainty persisted, and changing consumer behavior dented economic recovery. But now, in the spring of 2022, some two years since COVID-19 forced governments to impose lockdowns and severe travel restrictions, there are plenty of signs of optimism for the future of tourism. This is true even with potential macroeconomic and geopolitical headwinds. STR has evaluated consumer views and behaviors throughout the pandemic, and our latest survey, conducted in February 2022, canvassed opinion from a global audience to gauge sentiment and the out...
