Travel

WHAT'S NEXT?: How we travel, where we travel and whether we travel at all will mean tremendous change in the decades ahead.

[New] Indonesia's construction industry's output value is expected to continue to expand at a healthy rate over the forecast period (2019-2023), with investments in housing, transport and tourism infrastructure projects continuing to drive growth.
[New] Saudi Arabia relaxes rules on who can rent hotel rooms: Saudi Arabia will now allow unmarried foreign couples to rent a hotel room together under a new visa regime.
[New] The Greek Tourism Ministry is expecting Greece to see an increase in revenue from tourism and travel this year, compared to 2018.
[New] Fundamentals in the hotel market remains firm with upcoming events (rugby world cup and Tokyo Olympics in 2020) expected to drive demand, with new supply expected to slow in the coming years.
[New] China is expected to overtake the US by 2040 for passenger traffic with 18.2% share of the global market compared with the US at 13.9%.
[New] Europe is predicted to be the attractive regional market in global Medical Tourism market and is likely to show a steady growth in the next few years.
[New] Short trips between our markets have become a trend and will grow exponentially in the coming years.
[New] Boeing forecast a three per cent increase in global demand for passenger jets over the next two decades, dominated by single-aisle aircraft, lifted by strong air travel growth and expanding low-cost carriers.
The United States has seen a slide both in international arrivals and its market share of global travel - with a forecasted loss of $180 billion in customer spending by 2022.
Although airplanes currently account for only about 1.3 percent of emissions, all airplane travel-including passenger jets, private jets, cargo, and military - is expected to grow 4.4 percent annually for the next two decades.
As of July of 2019, 201,000 new hotel rooms were under construction across the country, representing an imminent supply increase of 3.8% over an 18-month period.
A potential worst-case scenario could mean a downtrend of as much as 50 percent in Chinese travel to the United States - a hit of $18 billion to the U.S. travel industry.
In coming years, India is expected to be the fastest growing economy among Australia's top 10 tourism source markets, largely due to its young and rapidly urbanising workforce.
Emissions from airplanes have doubled over the past 20 years, and air traffic will double by 2035, driven by a growing middle class in countries like China and India.
Over the next 20 years the South African market could more than double in size, resulting in 23.8 million additional passenger journeys, over 372,000 more jobs, and a total of USD20.2 billion in GDP by 2037.
Next year, the value of wellness tourism to reach US$800 billion.
Travel and tourism as a global industry has flourished since the last report in 2017, and its contribution to global GDP (currently at 10%) is expected to rise by as much as 50% over the next decade.
With over 150 million international departures recorded in 2018, China will continue to maintain its leading role in global tourism: Mckinsey estimated a 5.4% p.a. growth and forecasted a total spend of $315 billion by end-2020.
Tourism is a valuable sector looking for travel tech solutions in a market centred mainly in the Algarve and expected to grow from around €22 billion last year to €27 billion by 2023.
With an average spend of $1,850 per tourist, the Ghana tourism authority expects this year's revenues to top $925 million, a 50% increase from 2018, which it hopes to sustain over the next three years at least.
The Middle East opened 42 new hotels / 10,793 rooms in the first half of 2019 with another 59 new hotels / 12,418 rooms scheduled: by 2020, new hotel openings are forecast to climb to 124 new hotels / 37,233 rooms and ascending further in 2021 to 139 new hotels with 38,270 rooms expected to open.
The global market for hyperloop train is expected to expand at a rapid rate during the forecast period of 2017 to 2025.
China's importance as a key tourism market is expected to continue over the next decade, accounting for 31% of the increase in spend between 2018-19 and 2028-29.

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Last updated: 12 October 2019