Travel Advocates Share New Trillion-Dollar Impact Figures With Policymakers
U.S. Travel Association | April 20, 2023
At $1.2 trillion, direct spending on travel in the United States in 2022 was on par with pre-pandemic figures, according to new data released today by the U.S. Travel Association—reflecting the industry’s essential contributions to the American economy. “Travel rebounded strongly in 2022 thanks to robust demand for domestic leisure travel,” said U.S. Travel Association President and CEO Geoff Freeman. “Now we must focus on fully restoring the international and business travel segments to continue growing this critical driver of the U.S. economy.” Key points: Travel accounted for $1.2 trillion in direct spending in 2...
Deloitte: Business Travel Begins to Take Off, But Full Recovery Experiences Further Delays
Deloitte | April 11, 2023
Corporate travel spend will likely be smaller than pre-pandemic as U.S. and European companies weigh ROI and sustainability goals amid ongoing flexible work arrangements and increased use of technology NEW YORK, April 11, 2023 -- Key takeaways • Corporate travel spend in the U.S. and Europe is projected to surpass half of 2019 levels in the first half of 2023 and rise to two-thirds by the end of the year. Full recovery following the pandemic appears likely by late 2024 or early 2025. • Live events are set to comprise a significant share of corporate travel, advancing from the fifth biggest driver of increased spend in 20...
Bags Packed: Reuniting With Lost Vacations
Deloitte | April 3, 2023
By Anthony J. Jackson, Peter Caputo, Maggie Rauch, Stephen Rogers Prolonged inflation has taken its toll on consumers’ finances. Even as inflation rates show signs of easing,1 roughly four in 10 Americans surveyed in Deloitte’s Global State of the Consumer Tracker feel financially worse off compared to a year ago.2 Many continue to cite concerns around savings and nearly half still say they’re delaying large purchases.3 Americans’ sense of financial well-being seems to have taken a hit, and over the past year, so has spending confidence.4 Recession warnings certainly aren’t making matters any better. Through all the gloom, ...
Cloudbeds Launches Inaugural State of Independent Lodging Report
Cloudbeds | March 20, 2023
(SAN DIEGO, CA) March 20, 2023 — Cloudbeds, the hospitality management platform powering more reservations and happier guests for lodging businesses around the globe, today announced the launch of its inaugural State of Independent Lodging Report. The first installment of the report, which will be released annually, offers a unique and data-rich view into the independent lodging segment, including data from property types and segments often overlooked in industry reporting. “Over the past decade, we have enjoyed a front-row seat to one of the world’s most dynamic and accelerating industries. We’re thrilled to utilize that privile...
UNWTO Looks to “Re-Write Tourism History” at Official Re-Opening of China
UNWTO | February 24, 2023
UNWTO has heralded the re-opening of China as ‘the final piece in tourism’s recovery’ from the biggest crisis in the sector’s history. Leading a high-level delegation to the city of Hangzhou to join in the official re-opening, UNWTO Secretary-General Zurab Pololikashvili, warmly welcomed the lifting of travel restrictions as a major boost to economic growth and social opportunity both in Asia and the Pacific and globally. According to UNWTO data, the pandemic cost destinations worldwide a combined US$270 billion in Chinese outbound tourist spending in 2020 and 2021 alone. The re-opening of borders therefore represents “the moment...
Travel & Tourism Sector in Key European Capitals Strongly Recovering Says WTTC
WTTC | February 15, 2023
London, UK: A new report from the World Travel & Tourism Council (WTTC) has revealed strong signs of recovery of the economic impact from Travel & Tourism in the five city ‘powerhouses’ of Western Europe. The Cities Economic Impact Report, sponsored by Visa and researched in partnership with Oxford Economics, analysed key indicators such as Travel & Tourism’s contribution to GDP, employment and traveller spend. The study examined the impact of the sector in London, Paris, Berlin, Rome, and Madrid. The report from the global tourism body shows that in 2019, the Travel & Tourism sector contributed over $83.5BN to th...
International Visitors Spent $16.5 Billion in December 2022
NTTO | February 13, 2023
Data recently released by the National Travel and Tourism Office (NTTO) show that in December2022: International visitors spent nearly $16.5 billion on travel to, and tourism-related activities within, the United States, an increase of nearly 49 percent compared to December 2021 and the single highest month for U.S. tourism-related exports since February 2020—the onset of the global pandemic. Americans spent more than $15.5 billion traveling abroad, yielding a balance of trade surplus of $932 million for the month. A summation of the twelve months in 2022 (preliminary data, subject to future revisions) suggests that international...
Tourism Tidbits: Reviewing Some of the Travel & Tourism Industry’s Basic Principles – Part Two of a Two-Part Series
Dr. Peter E. Tarlow | February 6, 2023
Dr. Peter Tarlow We began the year by reviewing some of the fundamental principles of a successful tourism business or industry. Tourism is multifaceted and despite the fact that there is no one form of tourism many of the industry’s basic principles hold true no matter in which aspect of the travel and tourism industry one works. Despite our cultural, linguistic, religious, and geographic differences human beings are basically the same around the world and the best principles of good tourism transcend cultures, languages, nations, and religious affiliations. Due to tourism’s unique ability to bring people together if used pro...
Appointments/People on the Move
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