COVID-19 has accelerated the need for companies within the travel and tourism industry to rapidly invest in digital strategies including the global online travel market which is expected to grow at a compound annual growth rate (CAGR) of eight percent to reach USD765,3 billion between 2022 and 2025, according to GlobalData.
Expedia recently released its annual Vacation Deprivation study, finding that Americans took six fewer vacation days (less than 12 days) than the global average in 2021, leaving the majority feeling vacation deprived (59 percent) and more burned out than ever (72 percent).
Major new research from the World Travel & Tourism Council (WTTC) has revealed that as the global travel and tourism sector begins to recover from the ravages of the COVID-19 pandemic, its contribution to the global economy could reach USD8,6 trillion this year.
The Omicron outbreak and the fragmented travel restrictions in response to the new variant have negatively impacted Europeans' travel confidence at the beginning of 2021. However, travel sentiment across Europe shows more resilience, with signs of optimism for the early summer months.
A total of 1,080 deals were announced in the global travel and tourism sector during 2021, which is an improvement of 1,3 percent over the 1,066 deals announced during 2020, according to GlobalData, a leading data and analytics company.
Following comprehensive analysis and research, the World Travel & Tourism Council (WTTC) has launched a new groundbreaking report which provides clear recommendations to governments and identifies four key digital solutions to restore international mobility.
Seychelles has beat off competition yet again as it scooped for the fourth time, the prestigious Travel + Leisure 2021 World's Best Award as the top island destination in Africa & the Middle East.
The World Travel & Tourism Council (WTTC) announced the launch of a Net Zero Roadmap for the travel and tourism sector to support the industry in combatting climate change during its virtual climate week event.
Price is the most important factor to 47 percent of consumers when selecting accommodation, according to a poll by GlobalData. The data and analytics company notes that, with less budget for travel but a strong desire to escape, many will turn to budget providers to satisfy their travel cravings.
The COVID-19 pandemic has had a devastating effect on the business travel industry. The international sector was by far the worst affected, facing a 75 percent drop in total trips.