Globally, travel and tourism's direct contribution to gross domectic product (GDP) was approximately 7.7 trillion U.S. dollars in 2022. This was a, not insignificant, 7.6 percent share of the ...
Future of tourism: Tech, staff, and customers
Not really. The industry continues to face a prolonged and widespread labor shortage. After losing 62 million travel and tourism jobs in 2020, labor supply and demand remain out of balance. 6 "WTTC research reveals Travel & Tourism's slow recovery is hitting jobs and growth worldwide," World Travel & Tourism Council, October 6, 2021.
The Latest Travel Data (2024-03-04)| U.S. Travel Association
The dashboard is the most comprehensive and centralized source for high-frequency intelligence on the U.S. travel industry, tracking industry performance, travel volumes and predictive indicators of recovery including air and lodging forecasts, DMO website traffic, convention and group trends, travel spending and losses, traveler sentiment ...
The future of travel and tourism as per 4 sector leaders
Industries in Depth. "People want to travel": 4 sector leaders say that tourism will change and grow. Published May 24, 2022· Updated Jan 11, 2023. The global travel and tourism industry's post-pandemic recovery is gaining pace as the world's pent-up desire for travel rekindles. Image: Unsplash/Anete Lūsiņa. Anthony Capuano.
A travel boom is looming. But is the industry ready?
Despite these promising signs, the tourism industry will likely struggle to capitalize on the imminent spike in travel demand, especially in Europe and the United States. From airlines and car rentals to hotels and airport restaurants, the entire travel supply chain is already showing signs of strain. Wait times at security checkpoints are ...
Data Insights
Data Insights. Below is U.S. Travel's latest travel industry research, including insights into emerging trends, factors driving travel's growth, as well as data to convey the importance of the travel industry and influence business leaders and legislation to strengthen travel for the future. Please note that some of our research products ...
Travel Will Represent a $15.5 Trillion Economy by 2033
By 2033, travel is set to become a $15.5 trillion industry—accounting for more than 11.6% of the global economy. This represents a 50% increase over its $10 trillion value in 2019, when travel ...
Global tourism to recover from pandemic by 2023, post 10-year growth
The travel and tourism industry's GDP is seen hitting $8.35 trillion this year and $9.6 trillion in 2023, a return to its pre-pandemic level. Tourism jobs are projected to recover to 300 million ...
How is the travel and tourism industry recovering?
The World Economic Forum has published its inaugural Travel and Tourism Development Index. It focuses on the growing role of sustainability and resilience in travel and tourism growth. Recovery for the sector is uneven and tourist arrivals in January 2022 were still 67% below 2019 levels, according to the World Tourism Organization.
FACT SHEET: 2022 National Travel and Tourism Strategy
The new National Travel and Tourism Strategy supports growth and competitiveness for an industry that, prior to the COVID-19 pandemic, generated $1.9 trillion in economic output and supported 9.5 million American jobs. ... The travel and tourism industry was one of the U.S. business sectors hardest hit by the COVID-19 pandemic and subsequent ...
What next for travel and tourism? Here's what the experts say
In 2020 alone, the travel and tourism sector lost $4.5 trillion and 62 million jobs globally. But as the world recovers from the impacts of the COVID-19 pandemic, travel and tourism can bounce back as an inclusive, sustainable, and resilient sector. Two experts highlight some of the key transformations in the sector going forward during the ...
COVID-19 and reimagining the tourism economy
Governments have generally played a limited role in the industry, with partial oversight and light-touch management. COVID-19 has caused an unprecedented crisis for the tourism industry. International tourist arrivals are projected to plunge by 60 to 80 percent in 2020, and tourism spending is not likely to return to precrisis levels until 2024.
Travel and Tourism
Travel and Tourism Satellite Account for 2018-2022 The travel and tourism industry—as measured by the real output of goods and services sold directly to visitors—increased 21.0 percent in 2022 after increasing 53.6 percent in 2021, according to the most recent statistics from BEA's Travel and Tourism Sate
Tourism's Importance for Growth Highlighted in World Economic ...
10 Nov 2023. Tourism has again been identified as a key driver of economic recovery and growth in a new report by the International Monetary Fund (IMF). With UNWTO data pointing to a return to 95% of pre-pandemic tourist numbers by the end of the year in the best case scenario, the IMF report outlines the positive impact the sector's rapid ...
Tourism
Tourism has massively increased in recent decades. Aviation has opened up travel from domestic to international. Before the COVID-19 pandemic, the number of international visits had more than doubled since 2000. Tourism can be important for both the travelers and the people in the countries they visit. For visitors, traveling can increase their ...
The Travel And Tourism Industry By 2030
2. Connectivity will become commoditized. Since 2006, the travel industry has benefited from the General Transit Feed Specification, a standard for how data is accessible across industry stakeholders.
Top Travel Industry Trends (2024-2027)
The travel and tourism industry is growing at an annual rate of 4.41%. By 2026, the projected market value will be just under $1 billion. Here are seven trends driving the future of the travel space. 1. Travelers go it alone. One website reports that 25% of all American millennials plan to travel by themselves each year.
Tourism outlook 2023
Tourism outlook 2023. Global tourism arrivals will increase by 30% in 2023, following growth of 60% in 2022, but will remain below pre-pandemic levels. The economic downturn, sanctions on Russia, and China's zero-covid strategy will delay recovery. EIU's guide to tourism in 2023 provides a comprehensive view of the challenges, opportunities ...
Travel demand remains resilient in Q2 2024: TUI achieves ...
Travel demand remains resilient in Q2 2024: TUI achieves record revenue of 3.6 billion euros Strong improvement in underlying Group EBIT / Highest ever results in the Hotels & Resorts and Cruises segments / Winter season with strong close and overall growth in bookings of +9 per cent, bookings for Summer 2024 remain promising at +5 per cent / Transformation of the business continues on track ...
Travel and tourism is one of the fastest growing sectors
With a GDP growth rate of 3.5% in 2019, travel and tourism trailed only behind information and communication and financial services. Apart from technology and capital, our society is also heavily ...
New Q1 Data Shows Older Demographic Driving Travel Spend
By the numbers, older, high-income consumers are on pace to match their Q1 levels of $1,202.10 spent on travel via credit card. That number plunged to $654 during Q2 of 2023 and has now rebounded ...
Locals in Aruba protest unsustainable growth of hotel and tourism industry
The protest was about the current environmental crisis that Aruba, like many other Caribbean nations, is facing. There was a particular focus on the unsustainable and unregulated growth of the hotel and tourism industry, exacerbated by the colonial impacts The Netherlands has had on Aruba and the rest of the ABC - SSS islands (Dutch Caribbean).
'New and shiny' Great Lakes cruise ship industry expects further growth
Wednesday's press conference comes after the Great Lakes cruise ship industry broke records in 2023. In Muskegon alone, around 2,500 passengers stopped by last year, generating around $700,000 ...
Expedia's Ariane Gorin on travel's B2B growth
In this installment of Travel Disruptors, Gorin spoke with McKinsey's Emma Loxton about the industry's postpandemic recovery, Expedia Group's B2B offerings, and how generative AI (gen AI) might change the business of travel. The following is an edited transcript of their conversation. McKinsey: As the travel industry continues to bounce ...
Global Business Jet Rental Industry Analysis Report
Global Business Jet Rental market is projected to grow at a CAGR of 17.50% during the forecast period to reach US$21660.04 million by 2029, from US$7005.679 million in 2022. Technological advances ...
Kentucky bourbon, tourism bring record growth. What to know for 2024
On Dec. 15, Beshear announced that in 2022 "Kentucky recorded its best year for growth of its signature bourbon and spirits industry, with over $2.1 billion in new investments and approximately ...
FG urged to boost tourism investments to drive economic growth
FG urged to boost tourism investments to drive economic growth. Zaleeha Sami, founder of Bilahid Vacations, has called on the Nigerian government and stakeholders to invest more in the tourism industry, citing its vast potential to boost the country's gross domestic product. Sami made this assertion during the Annual Investment Meeting (AIM ...
COMMENTS
Globally, travel and tourism's direct contribution to gross domectic product (GDP) was approximately 7.7 trillion U.S. dollars in 2022. This was a, not insignificant, 7.6 percent share of the ...
Not really. The industry continues to face a prolonged and widespread labor shortage. After losing 62 million travel and tourism jobs in 2020, labor supply and demand remain out of balance. 6 "WTTC research reveals Travel & Tourism's slow recovery is hitting jobs and growth worldwide," World Travel & Tourism Council, October 6, 2021.
The dashboard is the most comprehensive and centralized source for high-frequency intelligence on the U.S. travel industry, tracking industry performance, travel volumes and predictive indicators of recovery including air and lodging forecasts, DMO website traffic, convention and group trends, travel spending and losses, traveler sentiment ...
Industries in Depth. "People want to travel": 4 sector leaders say that tourism will change and grow. Published May 24, 2022· Updated Jan 11, 2023. The global travel and tourism industry's post-pandemic recovery is gaining pace as the world's pent-up desire for travel rekindles. Image: Unsplash/Anete Lūsiņa. Anthony Capuano.
Despite these promising signs, the tourism industry will likely struggle to capitalize on the imminent spike in travel demand, especially in Europe and the United States. From airlines and car rentals to hotels and airport restaurants, the entire travel supply chain is already showing signs of strain. Wait times at security checkpoints are ...
Data Insights. Below is U.S. Travel's latest travel industry research, including insights into emerging trends, factors driving travel's growth, as well as data to convey the importance of the travel industry and influence business leaders and legislation to strengthen travel for the future. Please note that some of our research products ...
By 2033, travel is set to become a $15.5 trillion industry—accounting for more than 11.6% of the global economy. This represents a 50% increase over its $10 trillion value in 2019, when travel ...
The travel and tourism industry's GDP is seen hitting $8.35 trillion this year and $9.6 trillion in 2023, a return to its pre-pandemic level. Tourism jobs are projected to recover to 300 million ...
The World Economic Forum has published its inaugural Travel and Tourism Development Index. It focuses on the growing role of sustainability and resilience in travel and tourism growth. Recovery for the sector is uneven and tourist arrivals in January 2022 were still 67% below 2019 levels, according to the World Tourism Organization.
The new National Travel and Tourism Strategy supports growth and competitiveness for an industry that, prior to the COVID-19 pandemic, generated $1.9 trillion in economic output and supported 9.5 million American jobs. ... The travel and tourism industry was one of the U.S. business sectors hardest hit by the COVID-19 pandemic and subsequent ...
In 2020 alone, the travel and tourism sector lost $4.5 trillion and 62 million jobs globally. But as the world recovers from the impacts of the COVID-19 pandemic, travel and tourism can bounce back as an inclusive, sustainable, and resilient sector. Two experts highlight some of the key transformations in the sector going forward during the ...
Governments have generally played a limited role in the industry, with partial oversight and light-touch management. COVID-19 has caused an unprecedented crisis for the tourism industry. International tourist arrivals are projected to plunge by 60 to 80 percent in 2020, and tourism spending is not likely to return to precrisis levels until 2024.
Travel and Tourism Satellite Account for 2018-2022 The travel and tourism industry—as measured by the real output of goods and services sold directly to visitors—increased 21.0 percent in 2022 after increasing 53.6 percent in 2021, according to the most recent statistics from BEA's Travel and Tourism Sate
10 Nov 2023. Tourism has again been identified as a key driver of economic recovery and growth in a new report by the International Monetary Fund (IMF). With UNWTO data pointing to a return to 95% of pre-pandemic tourist numbers by the end of the year in the best case scenario, the IMF report outlines the positive impact the sector's rapid ...
Tourism has massively increased in recent decades. Aviation has opened up travel from domestic to international. Before the COVID-19 pandemic, the number of international visits had more than doubled since 2000. Tourism can be important for both the travelers and the people in the countries they visit. For visitors, traveling can increase their ...
2. Connectivity will become commoditized. Since 2006, the travel industry has benefited from the General Transit Feed Specification, a standard for how data is accessible across industry stakeholders.
The travel and tourism industry is growing at an annual rate of 4.41%. By 2026, the projected market value will be just under $1 billion. Here are seven trends driving the future of the travel space. 1. Travelers go it alone. One website reports that 25% of all American millennials plan to travel by themselves each year.
Tourism outlook 2023. Global tourism arrivals will increase by 30% in 2023, following growth of 60% in 2022, but will remain below pre-pandemic levels. The economic downturn, sanctions on Russia, and China's zero-covid strategy will delay recovery. EIU's guide to tourism in 2023 provides a comprehensive view of the challenges, opportunities ...
Travel demand remains resilient in Q2 2024: TUI achieves record revenue of 3.6 billion euros Strong improvement in underlying Group EBIT / Highest ever results in the Hotels & Resorts and Cruises segments / Winter season with strong close and overall growth in bookings of +9 per cent, bookings for Summer 2024 remain promising at +5 per cent / Transformation of the business continues on track ...
With a GDP growth rate of 3.5% in 2019, travel and tourism trailed only behind information and communication and financial services. Apart from technology and capital, our society is also heavily ...
By the numbers, older, high-income consumers are on pace to match their Q1 levels of $1,202.10 spent on travel via credit card. That number plunged to $654 during Q2 of 2023 and has now rebounded ...
The protest was about the current environmental crisis that Aruba, like many other Caribbean nations, is facing. There was a particular focus on the unsustainable and unregulated growth of the hotel and tourism industry, exacerbated by the colonial impacts The Netherlands has had on Aruba and the rest of the ABC - SSS islands (Dutch Caribbean).
Wednesday's press conference comes after the Great Lakes cruise ship industry broke records in 2023. In Muskegon alone, around 2,500 passengers stopped by last year, generating around $700,000 ...
In this installment of Travel Disruptors, Gorin spoke with McKinsey's Emma Loxton about the industry's postpandemic recovery, Expedia Group's B2B offerings, and how generative AI (gen AI) might change the business of travel. The following is an edited transcript of their conversation. McKinsey: As the travel industry continues to bounce ...
Global Business Jet Rental market is projected to grow at a CAGR of 17.50% during the forecast period to reach US$21660.04 million by 2029, from US$7005.679 million in 2022. Technological advances ...
On Dec. 15, Beshear announced that in 2022 "Kentucky recorded its best year for growth of its signature bourbon and spirits industry, with over $2.1 billion in new investments and approximately ...
FG urged to boost tourism investments to drive economic growth. Zaleeha Sami, founder of Bilahid Vacations, has called on the Nigerian government and stakeholders to invest more in the tourism industry, citing its vast potential to boost the country's gross domestic product. Sami made this assertion during the Annual Investment Meeting (AIM ...