Travel

• [New] For the 2019 tourism season, the Turkish economy management expects another growth in incoming tourism, which should be reaching the level of at least 20 percent.
• [New] The rewards of unlocking smart mobility could be vast, as this market is expected to generate $270 billion in revenues and profits of up to $150 billion by 2040.
• On a global scale, passenger air travel is expected to maintain positive growth rates up to 2030, despite a number of challenges faced by the industry: Airlines around the world are struggling with high jet fuel prices and sluggish economic growth.
• With the number of international arrivals estimated to reach 1.8 billion by 2030, and domestic arrivals potentially four times that figure, the transition to a low-carbon and resource efficient economy presents a range of opportunities and challenges for tourism policy makers.
• The consequences of climate change will be felt across the travel and tourism sector over the coming decades.
• The expected increase in international arrivals and growing tourism demand in the coming years - especially coupled with advances in technology - will raise a number of issues related to digital fluency, inclusion and accessibility.
• Three hotel firms announce major Middle East pushes: Despite fears that oversupply is causing problems in the Middle East, hotel firms are not stopping their expansion plans in the market.
• As with other early indicators in Central and South America, group hotel rates are expected to rise in 2019.
• Group hotel rates are expected to increase by 2.65% in China and Hong Kong, with a more modest increase of 0.50% in Australia, and 0.43% in Japan.
• A projected increase in tourism from Australia and New Zealand in the coming years, along with a steady stream of foreign aid during the ongoing efforts to rebuild, is likely to contribute to real GDP growth of 5.6% in 2019 in American Samoa.
• On the basis that Sri Lanka suffers a similar-sized fall in tourism, a hit to the economy will cut growth from 3.2% to 1% this year.
• The growth in domestic tourism is expected to be slow mirroring the slow growth in the South African economy.
• The global hotel and hospitality management software market was valued at around USD2,800 million in the year 2016 and it is expected to reach approximately USD4,300 million by 2022.
• Growth in exports in 2019-20 is expected to be supported by major liquefied natural gas projects ramping up production and continuing strong demand from Asia for education and travel services.
• International travel is increasing at a rapid rate: In 2017, a record 1.4 billion tourists visited other countries last year and that number is expected to reach 1.8 billion by 2030.
• Seven projects representing $2 billion of investment are likely to commence in 2020 which will add 1,500 new hotel 3,000 new tourism jobs in Barbados.
• People-to-people travel, study abroad programs and cruise bookings are expected to rise this year after seeing declines in stayover travel in 2018.
• Spanish outbound tourism is expected to grow from US$47.9bn in 2019 to US$64bn in 2021, expanding at a compound annual growth rate of 15.6%.
• The number of cars in the United States will drop by more than 80 percent by 2020 and 95 per cent of travel will be using on-demand autonomous electric vehicles.
• Passenger travel is expected to expand to 8.2 billion air travelers annually by 2037 and the number of cargo freight aircraft is expected to jump 30 percent.
• New hotel openings in Israel's major cities as well as new flight options from the U.S. will help continue the unprecedented momentum in tourism to Israel.
• Also supporting growth in 2019 will be the likely stronger exchange rates in Europe and the United States due to monetary tightening, increasing demand for Mauritian textiles exports and boosting demand for tourism from key markets.
• The global travel industry is likely to expand by 4 percent in 2019 despite slowing economic growth in key areas such China and Europe, but a no-deal Brexit could wipe out 700,000 travel-related jobs.

Last updated: 25 May 2019