travel and tourism
UNWTO at ITB Berlin: Setting Priorities for Tourism
UNWTO | March 10, 2023
UNWTO returned to ITB Berlin with a clear message: Tourism is back and committed to delivering positive change that goes beyond the sector itself. Tourism returns – why ITB matters ITB Berlin is the world's biggest tourism and travel trade fair. This week's event was the first in-person ITB for four years and comes as the sector's recovery is well underway. According to UNWTO, international tourism could reach 80 to 95% of pre-pandemic numbers by the end of the year, with 70 million international arrivals recorded in January alone (more than double the number of January 2022). The return of ITB was heralded by UNWTO as proof of str...
Travel Brands Need to Use Social Media to Directly Engage With Younger Cohorts
GlobalData | March 3, 2022
With social media proving to be the most cost-effective and impactful way of directly getting engaged with younger consumers, travel companies have begun to invest time and resource into this space for faster outreach and connection, finds GlobalData, a leading data and analytics company. GlobalData’s Job Analytics Database reveals that there was a 175.8% increase in social media-related jobs in the travel and tourism industry from 2020 to 2021. This showcases that an increasing amount of travel companies have acknowledged the importance of social media for brand engagement and customer service. According to GlobalData, *30% of Gen Z ...
US Average Overseas Tourism Expenditure Per Person Reached $3,580 in 2021, Making It the Most Valuable Globally
February 17, 2022
With an average spend per resident amounting to $3,580, the US source market is projected to be the most valuable globally in terms of average overseas tourism expenditure in 2021, according to GlobalData’s latest forecast. The leading data and analytics company notes that the willingness of the US market to dedicate significant amounts of its disposable income to international trips could help to drive the recovery of many destinations across the globe. GlobalData’s latest thematic report, ‘Premiumization in Travel & Tourism (2022)’, reveals that within the top 10 outbound destinations for the US market in 2021, six would be ...
Luxury Tourism Recovery Quicker Than Budget Tourism in US Due to Increase in High-Net-Worth Individuals
GlobalData | January 24, 2022
The pandemic has transformed many travelers into high-net-worth individuals and made the super-wealthy even wealthier, according to GlobalData. The leading data and analytics company notes that 29% of respondents in one of its live polls state that their budgets are ‘a lot’ or ‘slightly’ higher than pre-pandemic. The luxury leisure market experienced a strong start to recovery as wealthy consumers, now with higher levels of disposable income, began to travel once again in 2021. When looking at the US specifically, GlobalData found that total hotel revenue from leisure travelers for luxury hotels showed the strongest recovery in 202...
Trips to Visit Friends and Family Set to Rise by Ten Million by 2024 as US Relaxes UK Travel Restrictions, Says GlobalData
GlobalData | October 6, 2021
VFR travellers likely to lead demand in the immediate travel recovery phase VFR travel set to increase at a compound annual growth rate (CAGR) of 24.8% between 2021 and 2024 UK-US flights set to underpin recovery as demand for flights increases The announcement that US travel restrictions for vaccinated UK residents will be relaxed from early November will be met positively by people keen to reunite with family and friends. Leading data and analytics company GlobalData notes that the number of people travelling out of the UK to visit friends and relatives (VFR) is set to rise from 10.6 million in 2021 to 20.5 mi...
Travelers Prefer Booking Directly With Providers Amid Uncertainty
GlobalData | June 11, 2021
A recent GlobalData poll has revealed a shift in consumer preference towards booking holidays directly, instead of going through an online travel agency (OTA). A total 39%* of respondents said they would typically book directly, followed by 17% that opted for OTAs and price comparison sites. The leading data and analytics company notes that this shift is no surprise, given the flexible cancellation and straightforward refund policies offered by direct booking. Gus Gardner, Associate Travel and Tourism Analyst at GlobalData, comments: “The pandemic has caused a significant shift in consumer booking habits. A previous survey in Q3 2019** s...
Travel and Tourism Deal Activity Registers 40.3% Growth During March 2021, Finds GlobalData
GlobalData | April 13, 2021
A total of 108 deals (comprising mergers & acquisitions, private equity, and venture financing) were announced in the global travel and tourism sector during March 2021, which is an increase of 40.3% over 77 deals announced in February, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The rebound in deal activity in March, following a decline during the previous month, assumes even more significance as the travel and tourism sector was badly hit due to the COVID-19 pandemic. Deal activity in the sector remained subdued in 2020, while 2021 started on a slower note. H...
Travel & Tourism Sector Witnessed 29.6% Decline in Deal Activity During January 2021
GlobalData | February 9, 2021
A total of 57 deals were announced in the global travel and tourism sector during January 2021, which is a decrease of 29.6% over 81 deals announced in December 2020, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The travel and tourism sector has been one of the hardest hit by the COVID-19 pandemic with ongoing lockdowns in some of the key markets and travel restrictions bringing business travels mostly to a halt. Resultantly, deal-making appetite also remains muted.” The number of equity offerings, venture financing, mergers and acquisition (M&A), and priva...
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