After 25 consecutive months of year-over-year declines, U.S. hotel construction increased slightly in December, according to pipeline data from STR. At a market-level, New York City, Phoenix and Dallas are set to see the largest supply percentage increases from current construction. Among the chain scales, the Luxury and Upscale segments lead in that measurement. U.S. […]
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The European tourism sector continues to bounce back from the COVID-19 pandemic. Europe enjoyed a strong travel rebound over the summer months of 2022, as people want to make up for experiences lost to the pandemic. However, the sector faced other major challenges this year such as staff shortages, increased living costs, and an energy […]
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The World Travel & Tourism Council (WTTC) launched its Cities Economic Impact Report (EIR) at the 22nd Global Summit in Riyadh today. Sponsored by Visa, the report shows cities remain the powerhouses of global tourism and will drive the recovery of the sector and economies around the world. The Cities EIR analyses 82 international city […]
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International tourism is on track to reach 65% of pre-pandemic levels by the end of 2022 as the sector continues to bounce back from the pandemic. An estimated 700 million tourists travelled internationally between January and September, more than double (+133%) the number recorded for the same period in 2021. This equates to 63% of […]
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International 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 […]
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Travel sentiment among Europeans remains strong, with 73% planning to embark on a holiday between June and November 2022 despite various concerns, including high inflation, the Russo-Ukrainian crisis and the ongoing pandemic. Interest in visiting other European destinations (58%) has increased significantly (+7%) since last summer. Notably, 31% of respondents will head to an adjacent […]
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Tourism continues to recover at a strong pace. Globally, destinations welcomed almost three times as many international arrivals in the first quarter of 2022 as in the same period of 2021, with Europe leading the sector’s rebound. According to the latest UNWTO World Tourism Barometer, international tourism saw a 182% year-on-year increase in January-March 2022, […]
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The latest data from ForwardKeys reveals that the tradition of travelling at the end of Ramadan is making a significant revival this year. As of 13th April, outbound flight bookings from the Middle East for travel covering the last ten days of the festival (22nd April – 2nd May) reached 64% or pre-pandemic levels, a […]
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Travel and tourism was poised for an upturn in 2022, as it hoped to put the pandemic behind it. However, new threats have recently emerged that will delay the much-needed recovery. Inflation spike exacerbated by war in Ukraine At the beginning of 2022, there were warning signs that inflation was surging, with higher energy and […]
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International tourism continued its recovery in January 2022, with a much better performance compared to the weak start to 2021. However, the Russian invasion of Ukraine adds pressure to existing economic uncertainties, coupled with many Covid-related travel restrictions still in place. Overall confidence could be affected and hamper the recovery of tourism. Based on the […]
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