Market research company Euromonitor International released today new data on the future of the travel industry.
New research shows the travel industry is set to record strong growth with international arrivals reaching 2.4 billion by 2030, corresponding to USD 2.6 trillion in incoming receipts. China, France and the US will be the main beneficiaries of international arrivals.
Euromonitor International’s new research shows that global arrivals will grow by 5 percent between 2017 and 2018 to reach 1.4 billion trips, thanks to an upgraded economic outlook for major economies such as the US, Japan and the Eurozone.
Low-cost carriers are expected to show a passenger growth rate of 6 percent in 2018-2023, thus outperforming the scheduled operators.
By 2023, travel intermediaries are forecast to exceed USD 2 trillion stimulated by digital advances and the shift to mobile sales representing 70 percent of travel agents’ sales in 2017.
Euromonitor International’s analysts will introduce the ‘Megatrends Shaping the Future of Travel’ report at the World Travel Market (WTM) London on November 6, 2018.