Tourism Spend to Reach All-time High for 2024

The global tourism industry is set to reach new heights in 2024, with international tourist arrivals expected to surpass pre-pandemic levels and tourism spending projected to reach an all-time high. According to the latest UNWTO World Tourism Barometer, international tourism ended 2023 at 88% of pre-pandemic levels, with an estimated 1.3 billion international arrivals. The unleashing of pent-up demand, increased air connectivity, and a stronger recovery of Asian markets and destinations are expected to underpin a full recovery by the end of 2024.



The Middle East, Europe, and Africa performed strongest in 2023, with the Middle East leading the recovery in relative terms as the only region to overcome pre-pandemic levels with arrivals 22% above 2019. Europe, the world's most visited region, reached 94% of 2019 levels, supported by intra-regional demand and travel from the United States. Africa recovered 96% of pre-pandemic visitors, while the Americas reached 90%.

Asia and the Pacific reached 65% of pre-pandemic levels following the reopening of several markets and destinations. However, performance is mixed, with South Asia recovering 87% of 2019 levels and North-East Asia around 55%. International tourist arrivals are expected to reach 2019 levels in 2024, with initial estimates pointing to 2% growth above 2019 levels. The central forecast by UNWTO remains subject to the pace of recovery in Asia and to the evolution of existing economic and geopolitical downside risks.

Emerging destinations play a significant role in the projected increase in tourism spending and contribute to the overall growth of the industry. These destinations, which were not traditionally on many tourists' maps, are finding innovative ways to attract international travelers and establish themselves as desirable destinations. For instance, in China, domestic travel is expected to grow at a rate of 12% annually, overtaking the United States to become the world's largest domestic travel market by 2030. Similarly, India's domestic travel market is projected to grow at a rate of 9% per year, potentially overtaking Japan and Mexico to become the world's fourth-largest domestic travel market by 2030.



In addition to domestic travel, emerging destinations are also attracting international tourists. For example, in 2024, China's outbound tourism market achieved a full-fledged recovery, with the number of outbound tourists nearing 95 million, registering a 52% year-on-year increase and rebounding to 82% of the 2019 figure. The recovery of China's outbound tourism market started with nearby country destinations, such as Southeast Asia, which saw a number of Chinese tourists on par with that of 2019. The European market also experienced a gradual revival, with the number of Chinese tourists traveling to Italy, the United Kingdom, and Spain approaching that of the same period in 2019.

In conclusion, the global tourism industry is expected to reach new heights in 2024, with international tourist arrivals surpassing pre-pandemic levels and tourism spending projected to reach an all-time high. Emerging destinations play a significant role in the projected increase in tourism spending and contribute to the overall growth of the industry. As the world continues to recover from the COVID-19 pandemic, the tourism sector is poised for a strong rebound, driven by pent-up demand, increased air connectivity, and the emergence of new destinations.