Lockdown Effects Still Felt in the Travel Industry With global COVID-19 lockdowns 2 years in the past, the travel industry is still feeling the effects of those shutdowns and is only reaching 2019 traffic and volume levels. Another major factor that the industry is still reeling from is hiring and maintaining frontline team strength. A […]
Gaining an Advantage in a Crowded Marketplace Traffic and volume for leisure travel is expected to surpass pre-pandemic levels this year and the recovery has also driven the amount of travel related businesses that are in operation. Statista forecasts 558,573 businesses in the travel services industry worldwide, significantly higher than 2019’s tally of 443,790 travel
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A Global Currency for a Global Business Adoption and mainstream use of digital currencies continues to ramp up with more than 992 million cryptocurrency users forecasted by 2028. The rosy outlook carries over to market size with Statista forecasting the cryptocurrency market to value at $4.81 billion by 2030 and a CAGR of 17%. Cryptocurrency
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Healthcare Costs Drive the Medical Tourism Category Medical Tourism is an up and coming travel category that is rapidly growing year after year. In 2023, the global market was valued at $24.14 billion (USD) and is expected to grow 21.4% through 2032. That rosy outlook is attributed to the increasing demand of medical travel as
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Travel Still Feels the Effect of COVID-19 The outlook for travel remains positive as the market is poised to finish off 2024 at or above pre-pandemic levels which is good news for travel businesses and providers. The bad news is that staffing along the frontlines still remains a critical challenge in the industry. An American
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Leisure Travel Makes Its Comeback For the travel industry, 2024 marks the year that many categories are finally surpassing 2019 volumes, suggesting consumers are ready to shift their spending on trips and experiences. The comeback for leisure travel may be slower than other categories but is positioned to reach pre-pandemic levels by the end of
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The cruise industry continues to see positive forward momentum as demand for all-included cruising experiences grows. The category itself is a bright spot in the travel industry seeing 31.7 million seaborne passengers in 2023, surpassing pre-pandemic levels by 7%. The outlook is even sunnier with cruise capacity expected to grow 10% through 2028 (CLIA). One
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Technology has always played a key role in the travel industry and businesses will be adopting new innovations and layered solutions to help continue to drive business and create efficiency as the market is expected to reach pre-pandemic levels by the end of 2024. Capital also continues to flow into travel technology startups at a
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Sustainable travel is a growing category as more travel consumers are becoming reflective of the environmental impact they create.The market was valued at $3.15 trillion and is expected to more than double to $7.74 trillion by 203 (XXX). The potential for the market is much higher as the trend faces ‘trust’ issues from consumers. A
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A recent report from UN Tourism paints a bright picture for the travel industry. Over 285 million people traveled internationally in the first quarter of 2024, a 20% increase over the same period the year before. Volume and traffic pushed to 97% of pre-pandemic levels during the January – March period, suggesting a strong and
Travel Industry Priorities Shift to Revenue Generation Read More »