The World Travel & Tourism Council (WTTC) forecasts that by 2025 the travel and tourism sector in Spain could reach a new all-time high, with an estimated contribution of €260.5 billion to GDP, equivalent to almost 16% of the national economy. According to the latest Economic Impact Research (EIR), prepared by WTTC in collaboration […]
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Around $135.35 billion is expected to be contributed by Turkey’s tourism industry to the country’s economy, accounting for around 12% of national GDP, with foreign and domestic tourism spending increasing, according to the latest figures from the World Travel and Tourism Council (WTTC). The WTTC report predicts an increase in tourism product of more than […]
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Sabre Corporation’s latest global travel study uncovers a significant shift in travel behaviors and preferences for 2024. The data-driven narrative unfolds, showcasing how travelers are navigating the ever-evolving landscape of global travel. The study indicates a newfound confidence among travelers, with leisure travelers planning their trips much earlier than in previous years. Now, they are […]
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As the world recovers from the pandemic, the travel industry is clearly rebounding. However, concerns over sustainability and the impact of long-haul flights on the environment are causing many to question whether long-haul travel is a viable and sustainable option. Long-haul travel is a major contributor to greenhouse gas emissions, which are a leading cause […]
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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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International tourism continues to show signs of a strong and steady recovery from the impact of the pandemic despite significant mounting economic and geopolitical challenges. According to the latest UNWTO World Tourism Barometer, international tourism saw a strong rebound in the first five months of 2022, with almost 250 million international arrivals recorded. This compares […]
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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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UK duty free spend is forecast to plummet by 70% between 2019 and 2025 owing to new rules introduced in January 2021 which only enable alcohol and tobacco to be purchased duty free. Germany and France will overtake the UK’s number one position to become Europe’s biggest duty free markets, by 2025. The UK’s share […]
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Business travel recovery in 2021 proceeded at a slower, more cautionary pace than expected from a year ago. However, global business travel spending is expected to surge in 2022 with full recovery expected in 2024–ending the year on pace with the 2019 pre-pandemic spend of $1.4 trillion, and a year sooner than previously forecast. This […]
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Travel brands eager to engage with young consumers have for years focused on one key segment: millennials. Cut to 2021, and many of those consumers – now climbing in age between 25 and 40 – are balancing the costs of families and mortgages on top of extracurricular spending. And while millennials still hold significant spending power, […]
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