Following three years of vigorous growth rebound from COVID-19, the travel and tourism industry is experiencing a moderate expansion, expected to grow just 4.4% by 2025. Contributing factors include U.S. economic uncertainties and tariffs, which impact both consumer and business travel budgets. Domestic travel is also declining due to poor weather and lowered confidence. The U.S. slowdown has global repercussions, while Asia predicts the strongest growth rate at 5.2% in contrast to the U.S.'s projected 4.3% growth, indicating a shift in travel dynamics.
It took three years for the travel and tourism sector to fully recover after COVID-19, but now the market faces new challenges, mostly coming from the United States.
According to a Statista Market Insights survey, global travel and tourism revenue is expected to grow by just 4.4% in 2025, reaching $955 billion.
The slowdown in the U.S. is already having a ripple effect on the worldwide market, with economic uncertainty and trade wars contributing significantly to this trend.
Both Asia and Europe are set to see stronger growth, with Asia expected to post the largest increase, with revenue growing by 5.2%.
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