The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) has revealed today that China’s Travel & Tourism sector is set to inject a record-breaking ¥12.62TN into the national economy by the end of this year.
International Tourism to reach pre-pandemic levels in 2024
According to the first UNWTO World Tourism Barometer of the year, international tourism ended 2023 at 88% of pre-pandemic levels, with an estimated 1.3 billion international arrivals. The unleashing of remaining 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.
OYO UK doubles its revenues from pre pandemic levels
Global travel technology company, OYO’s UK operations saw a 140% uplift in revenue or Gross Booking Value (GBV) in 2022, surpassing pre-pandemic levels of 2019. London emerged as the best-performing market showing strong Y-o-Y growth followed by other regions such as Brighton, Cornwall, Great Yarmouth, Devon, Portsmouth, Plymouth, and the Midlands.
Jeddah’s hotel performance surpassed pre-pandemic levels in November
Jeddah’s hotel performance came in lower than the month prior but surpassed pre-pandemic comparables, according to preliminary November 2022 data from STR.
London’s hotel ADR and RevPAR surpassed pre-pandemic levels in October
London’s hotel average daily rate (ADR) and revenue per available room (RevPAR) came in higher than the pre-pandemic comparable, according to preliminary October 2022 data from STR.
