Travel

WHAT'S NEXT?: How we travel, where we travel and whether we travel at all will mean tremendous change in the decades ahead.

• [New] From space enterprises to space tourism, this year will see the space private sector break out with new rockets, missions and plans.
• [New] The nascent space tourism and exploration sector is ripe for innovation - NASA will open up the International Space Station to private astronauts for the first time this year.
• [New] A group of industry stakeholders is urging the Trump administration to take action to ensure adequate supplies of fuel for freight and air travel and home heating in advance of a change in the type of fuel the maritime industry will use beginning next year.
• [New] New York City has been hit with a lot of hotel supply in recent years, but sources expect conditions in the market to improve by 2025.
• [New] The evolution in space tourism is expected to fuel the growth of the market.
• The wellness tourism market is expected to reach $919bn in 2022, growing twice as fast as the tourism market.
• Global Business Travel Market is expected to rise from its initial estimated value of USD 1375.36 billion in 2018 to an estimated value of USD 1915.83 billion by 2026, registering a CAGR of 4.23% in the forecast period of 2019-2026.
• The LTI projects US inbound travel volume will decline 0.8 percent over the next six months as prolonged trade tensions and the high value of the dollar continue to weigh on demand for travel to the United States.
• China's outbound tourism industry is expected to suffer over the next five years if its trade war with the US continues.
• Latin America continues to bet on considerable growth in the tourism sector: Despite the dollar crisis, sales are expected to increase by 65% by 2019.
• International airlines are relying on a global carbon offsetting plan to decrease CO2 emissions from air travel at 2020 levels, controlling the environmental impact of flying even as passenger traffic is forecast to grow.
• International tourist arrivals rose by 4.0 percent in the first half of 2019, but trade tensions and Brexit uncertainty could hinder growth.
• By 2028, China's economy will benefit from travel and tourism, more than any other country, at US$ 2,731.5 billion in contributions to Gross Domestic Product (GDP).
• Human being could obtain new way of travel, that be picked up at appointed place by ADV in level 5.
• Over the next 20 years the Kenyan market could more than double in size, resulting in an additional 11.3 million passenger journeys, over 449,000 more jobs, and a USD 11.3 billion boost to GDP by 2037.
• In the next three years, the markets with the most hotel supply expected to open are New York with 123 hotels, Dallas with 107 hotels, Houston with 87 hotels, Atlanta with 72 hotels, and Nashville with 67 hotels.
• EIA expects jet fuel consumption to increase the most in China and other Asian non-OECD countries, driven by greater demand for freight air transport and passenger air travel.
• Driven by aging populations searching for high quality and affordable healthcare in an increasingly connected world, the medical tourism market is expected to reach $179.6 billion by 2026.
• As developing nations are increasingly heading toward technological advancement and quality services in the medical and healthcare sector, the global medical tourism market is anticipated to witness robust growth over 2014-2020, predominantly in Asian countries.
• China has witnessed a significant growth in tourists' arrival over the past few years and projections are that it will overtake France as the world's number one tourist destination by 2030 as a growing middle class in Asia looks to spend more on travel.
• Travel to and within the U.S. grew 3.0 percent year-over-year in November and the growth of both international and domestic travel are projected to decelerate in the first few months of 2019.
• Global travel bookings valued at US$1.4 trillion are expected to grow at a compound annual growth rate of five per cent over the next two years, while travel bookings in the Asia-Pacific region, pegged at US$420 billion in 2018, is expected to continue growing at 6 per cent over the next two years.
• The International Air Transport Association predicts that air travel will grow to 7.2 billion passengers by 2035 - a near doubling of current levels.

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Last updated: 25 January 2020