RIYADH: Spending on international travel is set to rise by 9.3 percent in 2021 and by a massive 93.8 percent in 2022 a new report has forecast.
The positive projections follow the slump the sector experienced last year – a 69.4 percent decline in 2020, according to the World Travel & Tourism Council (WTTC) and Trip.com Group latest ‘Trending in Travel’ report.
“It is clear people are really looking forward to travelling again,” WTTC’s CEO, Julia Simpson, said.
“As travel and tourism represents over 10 percent of global GDP this is good news for jobs and economies. The impact in some countries has been devastating for local communities and this report shows that business is returning in earnest,” she added.
The report which aims to show the latest and future trends in traveller behavior following the COVID-19 pandemic, also showed a significant rise in domestic tourism due to travel restrictions, with a surge of over 200 percent in domestic hotel bookings on Trip.com’s platform in 2021, compared to 2019.
WTTC research indicated that the Travel & Tourism sector’s contribution to GDP globally is projected to rise by 30.7 percent in 2021 and 31.7 percent in 2022.