Travel & Tourism sector
U.S. Travel & Tourism Recovery Projected to Exceed Pre-Pandemic Levels in 2022
WTTC | February 9, 2022
London – February 9, 2022 – The World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism sector, today announced its latest economic modeling projecting that U.S. Travel & Tourism could rebound strongly this year, reaching almost $2 trillion in U.S. GDP contribution and exceeding pre-pandemic levels by 6.2%. News of the strong recovery follows steady gains in the sector during 2021 and signals the welcome comeback of one of the world’s most important economic drivers after almost two years of upheaval. “Our latest forecast shows the recovery significantly picking up this year as in...
Deal Activity in the Travel & Tourism Sector Improved by 22% During October 2021, Finds GlobalData
GlobalData | November 19, 2021
A total of 72 deals (comprising mergers & acquisitions [M&A], private equity, and venture financing) were announced in the global travel and tourism sector during October 2021, which is a growth of 22% over 59 deals announced in September, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “This is the second consecutive month of growth in deal activity for the sector. As several countries have eased travel restrictions and COVID-19 booster jabs are being rolled out, deal-making sentiments for the sector appear to be improving. However, a surge in COVID-19 cases i...
Almost 180,000 UK Travel & Tourism Jobs Could Be Lost if Restrictions Return, Warns WTTC
WTTC | November 15, 2021
London, UK – November 15, 2021 – Up to 180,000 jobs could be lost across the UK Travel & Tourism sector this year, if travel restrictions are reimposed this winter, according to alarming new data from the World Travel & Tourism Council (WTTC). WTTC, which represents the global private Travel & Tourism sector, made the warning after an analysis which showed the impact caused by a further tightening of borders. The figures were revealed today by Julia Simpson, WTTC President & CEO, during the 2021 Tourism Alliance Conference, a major event where industry leaders will discuss how to rebuild the UK Travel & Tourism s...
New WTTC Report Provides Recommendations to Drive Recovery and Enhance Resilience of the Travel & Tourism Sector
WTTC | October 22, 2021
London, UK – October 22, 2021 – The World Travel & Tourism Council (WTTC) and the Ministry of Tourism of Saudi Arabia launched today an important new report that highlights the pain points to restore international mobility, and recommendations to drive the recovery of the Travel & Tourism sector, while enhancing its resilience. With the pandemic bringing international travel to an almost complete standstill, due to border closures and severe travel restrictions, Travel & Tourism suffered more than any other sector over the past 18 months. The sector’s contribution to global GDP fell from nearly US$ 9.2 trillion in 201...
Deal-Making Activity in the Travel & Tourism Sector Declined by 17.4% During August 2021
GlobalData | September 15, 2021
A total of 57 deals (comprising mergers & acquisitions [M&A], private equity, and venture financing) were announced in the global travel and tourism sector during August 2021, which is a decline of 17.4% over 69 deals announced in July, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: August marks the second consecutive month of decline in deal activity for the travel and tourism sector after rebounding in June. The subdued deal activity could be attributed to dampened deal-making sentiments as uncertainty due to the COVID-19 pandemic still looms. All t...
Deal-Making Activity in the Travel & Tourism Sector Declined by 6.8% During July 2021, Finds GlobalData
GlobalData | August 18, 2021
A total of 69 deals (comprising mergers & acquisitions [M&A], private equity, and venture financing) were announced in the global travel and tourism sector during July 2021, which is a decline of 6.8% over 74 deals announced during the previous month, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Deal activity in the travel and tourism sector still remains inconsistent. While June showed some signs of recovery following a decline during the past few months, the rebound in deal activity could not be sustained for long with July again reversing the trend. This...
