But, return of international visitor spend yet to recover The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) reveals a significant recovery of India’s Travel & Tourism sector, with domestic tourism playing a pivotal role. The data shows that whilst domestic tourism is driving the recovery of the sector in India, international travel spend remains below pre-pandemic levels. According to the global tourism body’s latest research, the sector’s contribution to India’s GDP reached just over INR 19.13TN in 2023 – almost 10% ahead of 2019 levels. Employment in Travel & Tourism grew by 10% to reach just under 43MN, 8% more than in 2019. Domestic visitor spending was 15% ahead of 2019, reaching INR 14.64TN however international visitor sp...
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Postcard Travel Club joins hands with RARE India in a strategic partnership to strengthen its footprint Postcard Travel Club, an inclusive community of conscious luxury travellers, travel designers, storytellers, and boutique properties that collectively advance responsible tourism, has formed a strategic alliance with RARE India, a collection of boutique hotels, wildlife lodges, and retreats across India, Bhutan, and Nepal. This partnership unites two pioneers advancing responsible tourism, and is further enhancing their commitment to environmental sustainability and community engagement through more conscious travel practices. Commenting on the collaboration, Amit Jaipura, Founder and CEO at Postcard Travel Club said, “Postcard Travel Club is delighted to announce a new allian...
Read MoreAlthough it took three years for the global travel and tourism sector to fully recover after COVID-19, the entire market has picked up the pace of solid growth and is on its way to reaching a new massive milestone. According to data presented by Stocklytics.com, the global travel and tourism industry is expected to gross $927 billion in revenue this year, 8.3% more than in 2023. This figure will grow by 14% and hit over one trillion dollars in 2027. Camping and cruises will remain the fastest-growing segments Four years after COVID-19 hit, it seems like the travel and tourism sector was never down on its knees, with people worldwide spending billions of dollars on traveling and vacation. Although inflation has significantly raised the prices of accommodation and tourist services,...
Read MoreDiversifying tourism across Asia and the Pacific, alongside promoting more and better education, will be key to building a more resilient and sustainable sector. According to UN Tourism’s data, the sector is experiencing a rapid recovery in Asia and the Pacific, with arrivals reaching 82% of pre-pandemic levels in the first quarter of 2024, boosted by the re-opening of many destinations throughout 2023. Now, with full recovery on the horizon, the latest joint meeting of UN Tourism’s Commission for Asia and the Pacific (CAP) and its Commission of South Asia (CSA), focused on the challenges and opportunities for creating a positive and lasting transformation. Guiding transformation and building resilience The 36th meeting of the CAP-CSA welcomed more than 130 delegates ...
Read MoreLocated just 30 minutes outside Paris, timeless resort has been magnificently restored to showcase its historic buildings, monuments and gardens Wyndham Hotels & Resorts has officially opened the doors to its newest hotel, the luxurious Dolce by Wyndham Versailles – Domaine du Montcel. Nestled in the outskirts of Paris in famed Domaine du Montcel Park, just minutes from the world-renowned Palace of Versailles, the striking 178-room resort sits on a charming estate in the heart of the beautiful Bièvre Valley and opens just as the world prepares to turn its competitive gaze to Paris this summer. Once the residence of France's famed Oberkampf-Mallet family in the late 1700's, the magnificent resort has been fully renovated to preserve its historic buildings, monuments and gar...
Read MoreMarket size set to grow by USD 249.2 billion from 2024-2028 The global meetings, incentives, conventions, and exhibitions (MICE) market size is estimated to grow by USD 249.2 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 11.94% during the forecast period. Digitalization of travel payments is driving market growth, with a trend towards rapid increase in globalization. However, threat of growing terrorism poses a challenge. Key market trends fuelling growth The global MICE market is experiencing significant growth due to business expansion driven by globalization. Companies like Toyota, Walmart, and Adidas are actively expanding their market presence in countries such as India, China, and Saudi Arabia. This growth is fuelled by co...
Read MoreAsia and the Pacific’s growing status as a gastronomy tourism destination has been celebrated as key stakeholders look to a more inclusive and sustainable future. The first UN Tourism Regional Forum on Gastronomy Tourism for Asia and the Pacific built on the success of the global event to serve as a platform for public and private sector leaders to address the main challenges and opportunities in this fast-emerging part of global tourism. As with the World Forum, the event was co-organized by UN Tourism and the Basque Culinary Centre (BCC) and hosted by the Department of Tourism of the Philippines. Ministers map better policies for a more inclusive future Reflecting the strong commitment of its Member States to harnessing the economic and social benefits of gastronomy tour...
Read MoreGrowing emphasis on golf infrastructure worldwide to boost the market growth The global golf tourism market size is estimated to grow by USD 9.09 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 6.72% during the forecast period. Growing emphasis on golf infrastructure worldwide is driving market growth, with a trend towards advent of integrated mobile solutions in golf clubs and other equipment. However, increasing threat from fantasy sports poses a challenge. Key market trends fuelling growth The golf tourism market has experienced growth in the past decade, with approximately 26 million people in the US playing golf occasionally. This trend is driving the need for golf clubs to offer integrated mobile solutions, provid...
Read MoreAlso wins World’s Best Economy Class airlines at Skytrax awards In the 2024 Skytrax World Airline Awards, Cathay Pacific has been awarded the fifth World’s Best Airline, up three places from last year, and the World’s Best Economy Class Airline. The carrier was also named World’s Cleanest Airline. These distinctions follow Cathay Pacific being named the third best premium airline in the world in AirlineRatings’ rankings last month, up six places from last year. Cathay Group Chief Executive Officer Ronald Lam said: “We feel extremely encouraged to have moved from last year’s top 10 to this year’s top 5 according to Skytrax and AirlineRatings, both major airline industry rankings. “These achievements highlight the huge strides we have made over the past year, both on the gro...
Read MoreTwo more properties in Rajasthan- Jaipur and Jawai in the portfolio Strengthening the presence of Brand Storii, ITC’s Hotel Group has announced the signing of two Storii resorts in Rajasthan. With these signings the chain’s portfolio of managed properties continues its high growth trajectory through the asset right strategy. Expected to open in early 2025, Storii by ITC Hotels, Jaipur and Storii by ITC Hotels, Jawai will exemplify the brand’s ethos to offer immersive experiences. Including the recently announced signing of Storii Jaisalmer, Brand Storii will now have a total of 3 properties within the state of Rajasthan. Speaking on the expansion of Brand Storii, Anil Chadha, Chief Executive, ITC Hotels said, “Brand Storii is a diverse collection of properties that tell their...
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