Set for over $30 billion in revenue and 29 million users in 2024 Over the past four years, the cruise industry has been struggling with the devastating impact of the COVID-19 pandemic, which caused its revenue and the number of users to sink deep below the 2019 levels. However, 2024 could mark the turning point for the market and bring the long-awaited recovery. According to data presented by Stocklytics.com, the cruise industry is set to reach pre-pandemic levels, with over $30 billion in revenue and 29 million users in 2024. From the Worst Performer to the Fastest-Growing Segment in the Tourism Industry Confidence in cruise lines plummeted after COVID-19 hit, turning the cruise market into the worst-hit sector of the tourism industry. Cruise lines worldwide practically d...
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International tourist arrivals reached 97% of pre-pandemic levels in the first quarter of 2024. According to UN Tourism, more than 285 million tourists travelled internationally in January-March, about 20% more than the first quarter of 2023, underscoring the sector’s near-complete recovery from the impacts of the pandemic. In 2023 international tourist arrivals recovered 89% of 2019 levels and export revenues from tourism 96%, while direct tourism GDP reached the same levels as in 2019. UN Tourism’s projection for 2024 points to a full recovery of international tourism with arrivals growing 2% above 2019 levels. In line with this, the newest data released by the UN specialized agency for tourism show that: The Middle East saw the strongest relative growth, with international...
Read MoreUN Tourism has released its latest Tourism Visa Openness report on global visa policies, revealing continuous shifts in international travel regulations. The report sheds light on the evolving landscape of travel facilitation. It includes the Tourism Visa Openness Index that measures the degree to which destinations facilitate tourism and how open a country is in terms of visa facilitation for tourism purposes. Also, mobility scores are included to indicate to the extent to which citizens around the world are subject to visa policies, as well as an in-depth analysis of the reciprocity of visa policies. Key findings include: Regional Openness Scores: Return to Pre-pandemic openness: Destinations' openness to international travel has rebounded to pre-pandemic levels followin...
Read MoreTo resume 70% of pre-COVID passenger capacity levels by end of 2023; will add about 3,000 flights this year The Cathay Pacific Group – comprising passenger airlines Cathay Pacific and HK Express – is committed to restoring passenger capacity and connectivity in the Hong Kong aviation hub to serve the needs of the Hong Kong and international travel markets. It anticipates that the Group will be operating around 70% of its pre-pandemic passenger flight capacity by the end of 2023 with an aim to return to pre-pandemic levels by the end of 2024, ahead of the Asia-Pacific traffic forecast issued by the International Air Transport Association (IATA). Following the Hong Kong Special Administrative Region (HKSAR) Government’s recent adjustments to anti-pandemic measures for travellers and a...
Read MoreInternational tourism continued to show strong signs of recovery, with arrivals reaching 57% of pre-pandemic levels in the first seven months of 2022. According to the latest UNWTO World Tourism Barometer, international tourist arrivals almost tripled in January to July 2022 (+172%) compared to the same period of 2021. This means the sector recovered almost 60% of pre-pandemic levels. The steady recovery reflects strong pent-up demand for international travel as well as the easing or lifting of travel restrictions to date (86 countries had no COVID-19 related restrictions as of 19 September 2022). UNWTO Secretary-General Zurab Pololikashvili said: “Tourism continues to recover steadily, yet several challenges remain, from geopolitical to economic. The sector is bringing back h...
Read MoreMore than twice as many tourists visited Spain in July than in the same month last year, a number only slightly below pre-pandemic levels, National Statistics Institute data showed on Thursday. The 9.1 million visitors in July spent close to 12 billion euros ($12 billion), more than twice as much as in 2021. Tourism earnings are a significant component of Spain's gross domestic product. Before COVID-19 put a halt to international travel in 2020, Spain received a record number of foreign tourists in 2019, with 9.9 million visiting in July of that year. FILE PHOTO: Passengers queue at check-in desks at Malaga-Costa del Sol Airport, in Malaga, Spain June 4, 2022. REUTERS/Jon Nazca Asian visitors were the only group who have not returned to the country in the same numbers, secreta...
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