Global Travel Highlights – August 2021
Recovery in both domestic and international travel is underway in the second half of 2021, despite some larger adverse impacts for the year to date than previously expected.
What you will learn from this report:
- Growth in domestic travel in 2021 will be key to reviving the travel industry.
- Vaccination success has strengthened the international travel recovery’s potential.
- Europe is expected to enjoy the most robust recovery in international travel by 2024.
- Downside risks have eased but remain present.
Slowdown in 2023, except for Chinese cities
Growth across advanced Asia Pacific cities is slowing down in 2022's second half, and their full-year growth rates will trend downwards in 2023. In emerging Asian cities, we expect an uptick in growth in 2022, followed by a marked weakening in 2023.Find Out More
European cities face a tough winter as recession spreads
Strong annual GDP growth figures for most major European cities do not tell the whole story in 2022 as the economic environment across Europe has continued to deteriorate in the second half of this year. We expect technical recessions across most major European cities in H2 2022 and into Q1 2023.Find Out More