The latest data from the UNWTO World Tourism Barometer reveals a promising outlook for the global tourism industry. International leisure travel has reached 88 per cent of 2019 numbers, with an estimated 1.3 billion arrivals worldwide. The UNWTO anticipates a full tourism rebound to pre-pandemic levels by 2024, driven by pent-up travel demand and reopened source markets.
In 2023, the Middle East, Europe, and Africa led the tourism revival, with the Middle East surpassing pre-pandemic arrivals by 22 per cent. Several sub-regions also exceeded 2019 arrival levels, including Southern Mediterranean Europe, the Caribbean, Central America, and North Africa. Europe recovered 94 per cent of 2019 levels, while Africa and the Americas reached 96 per cent and 90 per cent, respectively.
The Asia-Pacific region achieved 65 per cent of 2019 arrivals in 2023, with South Asia leading at 87 per cent and North Asia lagging at around 55 per cent. The UNWTO Tourism Confidence Index survey reflects a positive outlook, with 67 per cent of tourism professionals expecting better prospects for 2024 compared to 2023.
The economic impact of tourism recovery is significant, with international leisure travel generating USD$1.4 trillion in 2023, slightly below 2019’s $1.5 trillion. The UNWTO expects international tourism to fully recover in 2024, with initial estimates showing a two per cent growth above 2019 levels. However, challenges such as inflation, high interest rates, and geopolitical risks may impact the cost of travel in the coming year.
Despite these challenges, the UNWTO predicts that trips offering value for money, close-to-home destinations, and sustainability will shape consumer travel choices in 2024. Overall, the future looks bright for the global tourism industry as it continues its path to recovery.