The WTM Global Travel Report, in association with Tourism Economics, is published to mark the opening of this year’s WTM London, the world’s most influential travel and tourism event.

For the current year, the Americas as a whole falls short of 2019 in both volumes and value. The region is expected to welcome 117m inbound leisure visitors, 4% down on 2019’s number. In dollar terms the shortfall is negligible, only 2% shy of pre-pandemic earnings.

When looking at the region country-by-country, it emerges that the other major markets have had a very strong year. The US is by far the biggest market in the Americas, and saw a 17% drop in the value of its inbound leisure market. In contrast, number two Mexico was 128% ahead of 2019 with Canada up by 107%.

However, the US domestic market has performed strongly and is in positive territory, with 2023’s domestic spend tipped to come in at 130% of 2019. All of the major domestic markets are ahead. Mexico is 144% ahead and Brazil, the third largest domestic market, is 118%.

Venezuela is the eighth biggest domestic market in the region. It is predicted to reach levels 325% higher than 2019, the second highest percentage increase of any market registered in the report.

Overall, domestic tourism in the Americas for 2023 will be 31% ahead of 2019 by value.

The immediate future is looking positive, with the report confirming that the US will catch up with pre-pandemic levels in the next year. The findings show that 2024 will end with the US inbound in positive territory, 8% ahead of 2019. Domestically, the US will continue to grow, with the value of domestic tourism tipped to come in at around $1000 billion dollars.

Further out, the report looks forward to 2033 and says that the US inbound leisure market will remain the second largest in the world and be worth 82% more than 2024. This is among the strongest growth of the ten largest inbound markets, with only China (158%), Thailand (178%) and India (133%) registering a bigger increase. The US will also outperform its regional rivals, with Mexico looking at an 80% increase in inbound spend over the next decade; Canada is in line for a 71% jump.

Over the same period, outbound leisure travel from US is expected to grow in value by more than one-third (35%) in value, although this is the lowest of the ten countries analysed for this part of the report.

Juliette Losardo, Exhibition Director, World Travel Market London, said: “The strong showing for this year’s domestic market across the region aligns with what we’re seeing elsewhere – the substitution effect which came into play when international travel was restricted is still relevant, with many more people choosing to explore what is on offer within their own borders.

“US inbound is taking longer to get back to pre-pandemic volumes, but 2024 will see the turnaround completed. WTM London has a positive and long-standing relationship with the US market and the team are proud to be a contributing factor to its recovery.

The WTM Global Travel Report, in association with Tourism Economics, anticipates that the growth in the value of outbound travel from China between 2024 and 2033 will be 131%, by far the largest increase for any major market.

“There is potential for China to become double the size of the United States as a source market in terms of spending,” the report claims.

The number of Chinese households earning enough to be able to afford to travel will “roughly double” by 2033, with an additional 60m-plus households in the market.

Elsewhere, Indonesia and India will also see significantly more households able to afford to travel over the next decade.

For 2023, APAC tourism is still lagging behind 2019 levels. Overall, the region will welcome 149m leisure arrivals this year, 30% fewer than 2019 levels volumes. In terms of value, the region as a whole will end the year at only 68% of 2019’s return.

By country, China’s inbound leisure is only 60% recovered by value, with other big markets also behind – Thailand and Japan are at 57% of 2019. India is the region’s strongest performer and is only 6% shy of matching 2019.

Domestic tourism is proving more resilient. China and Japan, again, are the only countries in the region’s top ten underperforming 2019 levels, but the gap is closer, with China at 93% and Japan at 82%. Australia tops the regional charts for domestic with 2023’s value coming in a 124% of 2019.

APAC’s tourism market will continue to improve into 2024, although the picture is mixed. China will end the year slightly ahead in value, as will India and Australia. Thailand and Japan will still not have got back to 2019 levels.

In contrast, domestic travel in 2024 will be stronger than 2019 for almost all countries in the region. Many travelers “substituted” domestic trips for international ones during the pandemic and this trend is now established, despite the lifting of restrictions. Japan is the only exception, “reflective of the historical downward trend in domestic leisure and domestic travel demand more generally within Japan”.

Juliette Losardo, Exhibition Director, World Travel Market London, said: “The WTM Global Travel Report proves essential reading for anyone in the industry wanting a first glimpse of future opportunity. The global perspective on how regions and countries are faring after the pandemic, and the prospects for next year and the longer-term are not to be missed.

“APAC is a critical driver of the world’s inbound, outbound and domestic tourism sectors, and the growth profile for China and other countries in the region is extremely positive news for us all.

Sustainability has emerged as a crucial consideration for travellers in recent years, and by 2024, the trend will reach its pinnacle. Travel companies are increasingly prioritising eco-friendly initiatives, offering carbon-neutral travel options, supporting local communities, and promoting responsible tourism. Consumers are actively seeking sustainable travel experiences, leading to the rise of eco-tourism, green hotels, and the adoption of renewable energy sources in the sector.

2. Hyper-Personalisation

The integration of artificial intelligence and big data analytics will revolutionise personalisation in the travel industry. By 2024, sophisticated algorithms will allow travel companies to tailor their offerings based on individual preferences, creating truly unique and memorable experiences. From personalised itineraries to dynamic pricing based on consumer behavior, hyper-personalisation will empower travellers to curate their travel adventures like never before.

3. Contactless and Seamless Travel

The COVID pandemic accelerated the adoption of contactless and digital solutions in the travel industry. In 2024, these innovations will become standard practices, ensuring a seamless travel experience. Biometric technologies, such as facial recognition and touchless fingerprinting, will expedite security procedures, while mobile apps and digital passports will streamline check-ins, enable contact-free payments, and provide real-time information to travelers.

4. Rise of Gen Z Travellers

As Generation Z enters adulthood, the travel industry will witness a significant shift in consumer behavior. This tech-savvy generation, born and raised in the digital age, will demand immersive and authentic experiences infused with technology. Gen Z travellers will prioritise off-the-beaten-track destinations, adventure tourism, and travel experiences that allow them to make a positive impact on the communities they visit.

5. Virtual and Augmented Reality Experiences

Virtual and augmented reality will reshape the way travellers plan and experience their journeys. By 2024, virtual tours and immersive experiences will become mainstream, allowing some travellers to explore destinations from the comfort of their homes. Augmented reality will enhance on-site experiences, providing real-time information, historical context, and interactive elements at museums, landmarks, and tourist attractions worldwide.

6. Health and Wellness Tourism

The pursuit of well-being and mindfulness will continue to drive the growth of health and wellness tourism. Travellers are increasingly seeking destinations that offer holistic experiences focusing on physical, mental, and emotional well-being. In 2024, the travel industry will respond by expanding wellness offerings, including spa retreats, mindfulness workshops, fitness vacations, and healthy culinary experiences.

7. Remote Work and Travel

The COVID pandemic has proven that work can be conducted remotely, leading to a surge in digital nomadism. In 2024, the convergence of work and travel will become even more prevalent. Companies will embrace flexible work arrangements, and travel providers will cater to the needs of remote workers by offering co-working spaces, reliable internet connectivity, and accommodation options conducive to productivity.

8. AI-powered Chatbots and Virtual Assistants

Chatbots and virtual assistants are set to evolve into intelligent, AI-powered travel companions, providing personalised recommendations, real-time assistance, and 24/7 customer support. These virtual assistants will address concerns, answer queries, and offer customised suggestions on accommodations, transportation, dining, and local attractions, enriching the overall travel experience.

9. Space Tourism

With ambitious projects like SpaceX, Virgin Galactic, and Blue Origin gaining momentum, space tourism is expected to take a giant leap by 2024. High-net-worth individuals will have the opportunity to venture beyond Earth's atmosphere, experiencing weightlessness and witnessing the breathtaking views of the cosmos. Space tourism will gradually pave the way for more accessible commercial space travel, redefining the boundaries of adventure tourism.

10. Multi-Destination and Experiential Travel

In 2024, travellers will seek more meaningful and transformative experiences by exploring multiple destinations during a single trip. Multi-country itineraries, immersive cultural exchanges, and diverse activities will become the norm. Visitors will engage in hands-on learning experiences, contributing to local economies, and gaining a deeper understanding of the places they visit.

These top ten trends offer just a glimpse into the future of travel in 2024. From sustainability and hyper-personalisation to space tourism and AI-powered virtual assistance, they will reshape the way we explore the world, inspiring more conscious and immersive travel experiences. As industry reports continue to evolve and more information becomes available, it is crucial for travel companies to adapt and embrace these trends to cater to the evolving needs and expectations of modern-day travellers.

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