An overview of the segment and the impact of the Covid-19 Crisis
Unlike other sector, the tourism segment encompasses a wide variety of tourism and leisure options, but undoubtlessly all of them have been immensely impacted by the Covid-19 crisis. However, some sectors, by using creativity and innovation have succeeded in keeping their customers loyalty.
The projected impact of the crisis is however high. A decrease of 42.1% is expected and the sector will generate 396.37 billion U.S. Dollars instead of the forecasted 712 billions.
According to Ststista, globally,travel and tourism’s direct contribution to GDP was approximately 2.9 trillion U.S. dollars in 2019. When looking at countries that directly contributed the most to global GDP the United States’ travel and tourism industry contributed the largest sum at 580.7 billion U.S. dollars. Meanwhile, in a ranking of the countries with the highest share of GDP from travel and tourism the city and special administrative region of Macau generated the highest share of GDP through direct travel and tourism of any economy worldwide.
The total Contribution of Travel & Tourism to Global economy in 2019 was 9.25 trn USD. The number of International Tourist Arrivals worldwide was 1.46 bn and the Glocal Leisure Travel Spend in 2019 was 4.715 bn USD. Full reports on Statista.com
Some curiosities on the STATISTA reports appoint that the city where tourists most spent is Dubai, followed by Mecca, Bangkok and Singapore. London, New York and Paris come in the 5th, 6th and 7th positions respectively.
The luxury Travel & Leisure segments to watch are:
Luxury Golf Travels
Luxury Adventure Travels
Luxury Shopping travels
Luxury Wellness Travels
Luxury Cultural Travels
Luxury Cruising Travels
Luxury Business Travels
Luxury Leisure Travels
