International tourism is well on its way to returning to pre-pandemic levels, with twice as many people travelling during the first quarter of 2023 than in the same period of 2022.
In the first quarter of 2023, international arrivals drew closer (80%) to the level they were at before the pandemic. More than 230 million tourists travelled internationally between the beginning of January and the end of March 2023, which is double the number in the same period of 2022.
Tourism industry contributes to 9% of the global GDP and offers one from every 11 jobs. In addition, the number of tourists have doubled over the past 20 years and a propelling growth is expected in coming few years among all market segments. Tourism industry has an intense potential to grow and generate revenues.
Tourism has continued to show its resilience, stated UNWTO revealing that an estimated 235 million tourists travelled internationally in the first three months, more than double the same period of 2022.
2023 will be the year of reimagining travel
As travel restrictions and Covid testing become a thing of the past, research reveals that 73% of people are more optimistic about travel than they were in 2022.
We now forecast that US GDP will expand by 1.1 percent (vs. 0.6 percent) in Q2 2023. However, the headwinds to future growth persist. We now project that the US economy will grow by -1.2 percent in Q3 2023, -1.9 in Q4 2023, and -1.1 in Q1 2024.
International Travel Volume to the U.S. Set to Rise 20 Percent to Over 62 Million in 2023. The U.S. will receive 62.8 million international visitors in 2023, according to the National Travel and Tourism Office. That's a 21.2 percent rise from 51.8 million in 2022, but it's still below its 2019 level of 79.4 million.
Tourism in the year 2050 will be by far the largest industry worldwide. Interna- tional arrivals will amount to 2 billion tourists per year and international receipts will reach a 2.1 trillion US$ (expressed in 1999 dollars) per year.
Solid double-digit recovery for aviation in 2023
All in all, we expect global passenger travel volume to end up close to 90% of its pre-pandemic level in 2023, with (short haul) domestic travel at the upper end and international travelling at the lower end.
The European Travel Commission (ETC) also forecasted strong demand for European vacations in 2023, with nearly half of all destinations on the continent anticipating a return to more than 80% of 2019 volumes.
Air passenger demand in 2023 will rapidly recover to pre-pandemic levels on most routes, the UN aviation agency said on Wednesday.
For 2023 as a whole, real GDP (that is, GDP adjusted to remove the effects of inflation) is projected to grow by just 0.1 percent. The growth of real GDP is projected to speed up thereafter, averaging 2.4 percent a year from 2024 to 2027, in response to declines in interest rates.
Earnings Recession in 2023 to Transition to Strong Recovery in 2024. Morgan Stanley Research strategists think U.S. corporate earnings could decline 16% in 2023 but stage a comeback in 2024 and 2025. Here's what's behind the forecast.
The Tourism 2025 elements of Target for Value, Connectivity, Productivity, Visitor Experience and Insight provided the framework for the actions needed to achieve the $41 billion goal. Since then, the visitor economy has grown strongly, and the challenges and opportunities facing the industry have changed.
According to Evolve's 2022 travel forecasts, the average trip will likely be longer in length (5-7 nights in 2022, compared to an average of 3.8 nights in both 2020 and 2021). Longer trips will be increasing in demand as a result of the many work-from-home opportunities too.
Palexpo Exhibition Centre
Airspace World will take place on 8-10 March 2023 at the Palexpo Exhibition Centre in Geneva, Switzerland.
Now that we have a basic understanding of IDL, let us find out the first country that will celebrate the New Year. Kiritimati, which is part of the Kiribati Islands, is the first city that will be welcoming 2023 before anyone else.
The Most Dangerous Destinations in 2023
Afghanistan has been identified as potentially the most dangerous country in the world to visit in 2023 according to recently published Risk Map 2023.
In 2023, airports will see a surge in the use of automation and robotics, advanced air mobility, autonomous systems, data analytics, and location intelligence, among other technologies.
Global growth is now projected to slow from 3.1 per cent in 2022 to 2.3 per cent in 2023, an upward revision of 0.4 percentage points from the January forecast, which is mainly due to resilient household spending in developed countries and recovery of China's economy.
Almost two-thirds of chief economists believe a global recession is likely in 2023; of which 18% consider it extremely likely – more than twice as many as in the previous survey conducted in September 2022. A third of respondents consider a global recession to be unlikely this year.
Global GDP growth in 2023 is projected to be 2.7%, the lowest annual rate since the global financial crisis, with the exception of the 2020 pandemic period. A modest improvement to 2.9% is foreseen for 2024.
In quarterly terms, we now expect growth to be stagnant in Q3 after growing modestly in Q2, and for this to be followed by a contraction in output in Q4 2023, which continues into Q1 2024. Given the later expected onset of recession, we also delay the expected recovery to later in 2024.
Tourism 2025 & Beyond – A Sustainable Growth Framework
The key change is that sustainability is now at the centre of Tourism 2025, providing a clear pathway towards a sustainable tourism industry for Aotearoa New Zealand.
The airport of the future is a connected, integrated infrastructure that links passenger flows, air quality, energy levels, security and operational systems and processes across landside and airside operations.