Global Tourism Has Exceeded Pre-Pandemic Highs Since 2023 – Pakistan & Gulf Economist

by Anna Fleck,

According to estimates by Statista Market Insights, the global travel and tourism industry surpassed pre-coronavirus levels in 2023 and will continue to grow until 2025. Hotels will remain the biggest segment and are forecast to see a revenue of approximately $455 billion worldwide this year. Where cruises slowed to a near standstill during the COVID-19 pandemic, with a low of $3.1 billion in revenue in 2021, the segment is expected to surpass $45 billion in 2025. Meanwhile, the package holiday market is also growing rapidly, with an expected revenue of €330 billion in 2025.

As the following chart shows, the travel and tourism market has fully recovered from the slowdown of the pandemic, when lockdowns, travel restrictions and health risks made the industry come to a near standstill. In the years since, new travel trends have emerged, including the phenomenon of so-called “revenge travel”, as people wanted to make up for lost time. This surge of luxurious trips is now considered to be waning, however, and predicted to give way to slower and more meaningful travel.

You will find more infographics at Statista