Travel industry to record 2.4 billion international trips by 2030
A new report from Euro Monitor provides confirmation for prior forecasts calling from continued growth in international travel that is riding the tailwinds of our Rise of the New Middle Class investing theme. Beneficiaries span not just the airlines but also hotels and consumer goods companies as well. We can also see the influence of our Digital Lifestyle investing theme at work as digital sales become a greater part of the travel mix.
New research shows the travel industry is set to record strong growth with international arrivals reaching 2.4 billion by 2030, corresponding to USD 2.6 billion in incoming receipts. China, France and the US will be the main beneficiaries of international arrivals.
Global arrivals will grow by 5 percent between 2017 and 2018 to reach 1.4 billion trips, thanks to an upgraded economic outlook for major economies such as the US, Japan and the Eurozone. Low-cost carriers are expected to show a passenger growth rate of 6 percent in 2018-2023, thus outperforming the scheduled operators. By 2023, travel intermediaries are forecast to exceed USD 2 trillion stimulated by digital advances and the shift to mobile sales representing 70 percent of travel agents’ sales in 2017.
Source: Travel Industry Will Record 2.4 Billion International Trips by 2030