Latest news with #WorldTravelCouncil
Zawya
07-07-2025
- Business
- Zawya
Global tourism will reach 30bln trips by 2034
The World Economic Forum has today published a new report forecasting that the travel and tourism industry is projected to serve 30 billion tourist trips by 2034. Travel and Tourism at a Turning Point: Principles for Transformative Growth reveals a projected $16 trillion contribution to global GDP by the same year, representing more than 11% of the total world economy, according to World Travel & Tourism Council estimates. The report also found that the sector is expanding 1.5 times faster than the global economy, generating significant commercial opportunities as long as the mounting challenges of climate change, labor shortages, and infrastructure gaps are addressed. Asia is on track to become the world's fastest-growing tourism economy, with the direct travel and tourism GDP contribution expected to exceed 7% across the region by 2034. Notably, India and China alone will represent more than 25% of all outbound international travel by 2030. Countries such as Sri Lanka, Thailand, Indonesia, and Saudi Arabia are also poised for significant growth, driven by substantial investment in their tourism sectors. This momentum is leading to a rise in international arrivals, increased tourism-related business activity, and greater global visibility. Equally, high-growth segments like sports tourism, projected to hit $1.7 trillion by 2032, and ecotourism which is growing at 14% CAGR, are redefining travel priorities. The global travel technology market, worth $10.5 billion in 2024, is set to nearly double by 2033, as 91% of industry tech leaders anticipate aggressive investment increases. To support this boom, the industry will need to expand significantly, requiring an estimated 7 million new hotel rooms, 15 million additional flights annually, and investment in infrastructure capable of supporting 30 billion trips globally. Risks and opportunities However, the report also flags significant risks. Travel and tourism currently account for 8% of global greenhouse gas emissions, a figure that, without intervention, could rise to 15% by 2034. Waste generated by tourists is expected to reach 205 million tons annually, equivalent to 7% of the world's solid waste. At the same time, workforce shortages are escalating. The UK alone saw 53% turnover in 2022–2023, while the US hospitality industry continues to lag in hiring despite 16%-above-inflation wage increases. Without decisive, coordinated action, the sector could face up to $6 trillion in lost revenue by 2030 from future disruptions, missing its potential to become a true driver of resilience, inclusion, and regeneration. Børge Brende, President and CEO of the World Economic Forum, said: 'As global travel accelerates, we are standing at a pivotal crossroads. The sector's potential to drive inclusive prosperity, cultural understanding, and environmental regeneration is immense—but realizing this opportunity will require more than incremental change. 'It calls for a bold reimagining of the systems that underpin travel and tourism, anchored in multistakeholder collaboration. From aligning sustainable fuel standards to empowering local communities in tourism planning, the time has come to redesign the rules to create a sector that works better for people and the planet. This report offers a blueprint to guide that transformation and unlock tourism's full promise in a rapidly evolving world.' 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
The Independent
05-07-2025
- Business
- The Independent
Trump's policies could cause a significant drop in US tourism, study says
A report by the World Travel and Tourism Council indicates that Donald Trump 's policies risk alienating international travelers and could cost the U.S. economy billions in Tourism. The U.S. is projected to be the only country out of 184 to see foreign visitor spending fall by 2025, contrasting with a booming tourism industry in Mexico. The U.S. economy is on track to lose $12.5 billion in international spending this year, with a potential total deficit of $28.8 billion in international spending this year, compared to original forecasts. This decline is partly driven by an estimated 20 percent drop in Canadian visitors and a 17 percent drop in Western European visitors, including those from Britain and Germany. Alarming reports of foreign tourists being denied entry or detained, alongside concerns among U.S. citizens about re-entry inspections, are contributing to the downturn.
The National
26-06-2025
- Business
- The National
Sheikh Mohammed bin Rashid praises UAE's ‘exceptional' tourism sector
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Thursday praised the UAE's thriving tourism sector. It followed a report issued by the World Travel and Tourism Council which revealed that the UAE's travel and tourism sector saw its contribution to the country's GDP rise to Dh257.3 billion in 2024, representing 13 per cent of the national economy. This represents an increase of 3.2 per cent compared to 2023, and a 26 per cent increase compared to 2019, before the pandemic, state news agency Wam reported. 'In a new indicator of the strength and diversity of our national economy, the World Travel and Tourism Council report highlighted exceptional achievements in the UAE tourism sector, with total international visitor spending exceeding Dh217 billion during the previous year, in addition to domestic tourism spending reaching Dh57 billion,' Sheikh Mohammed wrote on X. 'The UAE is among the top 7 global destinations for international tourism spending, surpassing countries that have preceded us in this field for hundreds of years. We welcome tourists, delight in investors, embrace talents, and build the best environment for living, tourism, and visits. Welcome to the world.' A global leader Regarding international tourism, the report showed that the UAE is one of the most prominent destinations in the world, as the country received international visitors from major markets, most notably India (14 per cent), the UK (8 per cent), Russia (8 per cent), China (5 per cent), Saudi Arabia (5 per cent), and 60 per cent from the rest of the world. The report indicated that international visitor spending in the UAE reached approximately Dh217.3 billion in 2024, registering a growth of 5.8 per cent compared to 2023 and a 30.4 per cent increase compared to 2019. Domestic tourism spending, meanwhile, reached Dh57.6 billion, achieving a 2.4 per cent increase compared to 2023 and a 41 per cent increase compared to 2019.
Skift
17-06-2025
- Business
- Skift
IHG to Debut Kimpton Brand in Malaysia
The Singapore Tourism Board said there were 1.37 million tourist arrivals in May, up 7.6% year-over-year. That brings the year-to-date total to 7.09 million visitors, up 2.3% in the first five months of the year versus those same five months in 2024. China retained its position as the top source market from January to May, but still only at 91.2% of 2019 levels. The top five source markets in May were China, with 242,010; Indonesia, with 197,800; and India, with 154,400. Of the 7.09 million visitors in the first five months of 2025, 73.6%, or 5.22 million, were the important overnight visitors. That represents 87.9% of that result in 2019. The World Travel & Tourism Council is predicting a record-breaking year for Singapore's international arrivals, potentially reaching almost 16 million visitors. That would be up 9.6% over 2019. IHG Hotels & Resorts announced it will debut its luxury lifestyle brand, Kimpton, in Malaysia with the opening of Kimpton Naluria Kuala Lumpur in Q4 2025. The new landmark will be within the Tun Razak Exchange, Malaysia's first international financial district and Kuala Lumpur's Central Business District. The hotel will span 46 stories and will have 466 rooms. There will be four dining venues, including Four Siblings, a destination rooftop bar & lounge, and a retro Italian-American restaurant, which it will soon reveal details on. The other venue, Tuai + Till, will be an all-day dining concept that begins with breakfast and transitions into two distinctive experiences: Tuai, a cozy Malaysian café, and Till, an elegant Western brasserie. There will be five flexible event spaces. Marriott International's Autograph Collection brand announced its debut in South Asia with the opening of The Soaltee Kathmandu, Autograph Collection in Nepal. This will be Marriott Bonvoy's 19th brand in the South Asia region, which includes India, Bhutan, Nepal, Bangladesh, and Sri Lanka. The Soaltee Kathmandu, Autograph Collection includes 285 rooms, including suites, each narrating a unique story, a hallmark of Autograph Collection hotels. The hotel features 'The Storyteller', a curated installation woven into the hotel's public spaces. Amenities include restaurants from all-day dining to Awadhi-Indian specialties, Chinese cuisine, Patio's open-air dining, the Rodi Bar, and the Sports Lounge. The hotel is also equipped with a spa, outdoor swimming pool, tennis courts, a 24-hour fitness center, and 25,000 square feet of versatile indoor and outdoor banqueting space. M/S Gatik & Deetya Resorts & Spa LLC announced the grand opening of Wyndham Garden Jim Corbett Chhoi, developed under a franchise agreement with Wyndham Hotels & Resorts. The resort is located in the tranquil village of Chhoi near Ramnagar in India. The hotel is 15 km from the Amdanda Gate, which is the main entrance to Jim Corbett National Park's Bijrani Zone. The Wyndham Garden Jim Corbett Chhoi features 44 contemporary guest rooms, an all-day dining restaurant, a bar lounge, banquet halls, meeting rooms, a health club and spa, as well as an outdoor swimming pool. The resort is designed to provide a serene yet premium experience for all types of travelers. Shangri-La Group has launched a new luxury brand, Shangri-La Signatures, with the opening of The Silk Lakehouse, Shangri-La Hangzhou. The hotel is located on the shores of West Lake, a UNESCO World Heritage Site. The brand represents each property as a private residence and includes collaborations with designers and artisans, offering experiences related to art, wellness, food, and local culture. The Silk Lakehouse takes its concept from the home of a Jiangnan silk merchant. The lobby contains a crystal art installation made of 1,930 Murano glass pieces that resemble willow branches. The hotel stands on the site of the former Xiling Hotel. The Shangri-La hotel has 68 rooms and suites with views of the lake or gardens. Each guest is assigned a host who arranges cultural activities such as tea ceremonies, incense making, silk weaving, fan making, and other local crafts. Wellness offerings include an indoor pool, yoga, Tai Chi, and in-room exercises. Dining venues include The Living Room by Alan Yu with Western cuisine; Golden Silk with food from Hangzhou, Wenzhou, Ningbo, and Taizhou; Tea House with regional teas; and The Living Room by SANYOU, with drinks using baijiu and other local spirits. EVT Hotels & Resorts announced that the existing 152-room Rydges Lakeside Queenstown hotel will be transformed into the 221-room QT Queenstown in the popular South Island City in New Zealand. When complete in 2027, the majority of QT Queenstown's rooms will feature guest balconies overlooking Lake Wakatipu, as well as elevated conferencing and events facilities, dining, gym, and pool facilities. The hotel is located on the shores of Lake Wakatipu. The current 69-room QT Queenstown will remain open throughout the upgrade, with the new QT rooms to become available in stages throughout 2026, with the project due to be completed in mid-2027. The Watsons Bay Hotel on the shores of Sydney Harbour in Australia is undertaking a multi-million dollar renovation to its top and mid decks to transform its event facilities. During the $3 million worth of renovations, Watsons Bay Hotel's Beach Club, upstairs Sunset Room, Front Bar, and accommodations will remain open. The hotel is owned by Laundy Hotels. The renovations are expected to be completed in October 2025, ahead of Sydney's summer. The centerpiece of the Cabra-Vale Diggers Club redevelopment in NSW, Australia, is the Novotel hotel. The eight-story hotel will house 140 rooms, a rooftop swimming pool, and a gym when it opens its doors in November. The transformed club will also have an Italian trattoria and steakhouse by chef Dany Karam and District 8 serving Asian cuisine. The redevelopment coincides with the club's 100th anniversary. Signature Hotel Management Group will manage the Accor-branded mid-range hotel when it opens. Namhae County in South Korea announced that construction of the Sol Beach Namhae Hotel and Resort, a major private investment project led by Daemyung Sono Group, is nearly complete and set to open on July 5th. The project started full-scale construction in 2023 and was 98% complete at the end of May. The resort includes a 451-room hotel and facilities such as an infinity pool, banquet hall, year-round ice rink, and various dining and leisure spaces.
Yahoo
09-06-2025
- Business
- Yahoo
American Airlines Announces Big Change for Winter Travel With Adjustments on Transatlantic Routes
The U.S. airline industry looks very different in 2025 than it did in 2024, and one of the largest changes the industry is seeing this year is a decrease in international travel. Airlines are expected to see a decline in international travel to the U.S. through the rest of 2025, according to research from North Carolina State, with Tourism Economics estimating a 9.4 percent decline in international visitors coming to the U.S. in 2025, led by a 20.2 percent decrease in visitors from Canada. Tourism Economics also predicts a loss of $9 billion in travel spending in 2025 for the U.S., and the World Travel & Tourism Council expects an even larger loss, at $12.5 billion. Some of the biggest areas hit by this change are New York City and Las Vegas, with the Review Journal reporting that Las Vegas hotels and casinos have already started laying off concierge workers. Now, U.S. airlines are having to adjust to this new reality, and American Airlines is making changes to its winter schedule with the expectation that international travel will be down. American Airlines has suspended six transatlantic routes that connect Europe and the United States for the winter season, according to Simple Flying, as the airline makes adjustments to "its network based on lower demand for European routes." Simple Flying sources the aviation analytics company Cirium, which shows that American "will suspend operations on these six routes for at least a month," but they also note that this is "typical for the company's schedules during the winter period." However, as for what's not typical, Simple Flying adds that the "news comes nearly a week after the airline confirmed to Simple Flying that it is adjusting its schedule on three transatlantic routes for the upcoming fall and winter seasons." American, Simple Flying adds, has confirmed to the outlet that "those adjustments are not based on previously reported Boeing 787 delivery delays, but rather on lower demand for these kinds of routes in winter."American Airlines Announces Big Change for Winter Travel With Adjustments on Transatlantic Routes first appeared on Men's Journal on Jun 8, 2025
