Will reach a record US$1.5 trillion in 2024, WTTC report says A new report from the World Travel & Tourism Council (WTTC) has revealed that business travel is set to surpass pre-pandemic levels this year, faster than previously predicted, to reach a record US$1.5TN. The rise of remote working during the pandemic had a disproportionate effect on corporate travel, compared to leisure travel, with virtual platforms replacing face-to-face meetings. Last year, leisure travel was just 2.9% behind the 2019 peak, whilst business travel continued to struggle, remaining 5.4% behind. But as business leaders re-emphasised the importance of face-to-face interaction, business travel is now back and is set to exceed 2019 levels by an impressive 6.2% to reach the new US$1.5TN record. ...
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After stronger than expected recovery in 2022, this year could see international tourism arrivals return to pre-pandemic levels in Europe and the Middle East. Tourists are nonetheless expected to increasingly seek value for money and travel closer to home in response to the challenging economic climate. Based on UNWTO's forward-looking scenarios for 2023, global international tourist arrivals could reach 80% to 95% of pre-pandemic levels this year, depending on the extent of the economic slowdown, the ongoing recovery of travel in Asia and the Pacific and the evolution of the Russian offensive in Ukraine, among other factors. All regions bouncing back According to new data UNWTO, more than 900 million tourists travelled internationally in 2022 – double the number recorded in ...
Read MoreTUI, the world's largest holiday company, is seeing a rise in holiday bookings towards pre-pandemic levels, the head of the group's German business told a newspaper. "Our customers have some catching up to do," Stefan Baumert told the Funke group of newspapers. FILE PHOTO: A sign is seen from the outside of the TUI travel centre, amid the coronavirus disease (COVID-19) outbreak, in Harpenden, Britain. REUTERS/Paul Childs "We are convinced that we can get close to the level of 2019," he said, adding he expected travelling to be easier this summer due to fewer restrictions related to the coronavirus pandemic. TUI last month said summer holiday bookings were approaching pre-COVID levels on pent-up demand, with a steady recovery in Britain since restrictions and testing rules were...
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