Intention for long-haul travel remains weak in key markets amid worsening economic prospects, COVID-19, and geopolitical shocks.
ETC predicts that the share of European travel from the US to return to pre-pandemic levels relatively quickly, ahead of other long-haul markets.
Fragmented and inconsistent border restrictions in response to the Omicron variant impede consumer travel decisions.
With supply chain issues and shipping delays disrupting holiday shopping, demand for experiential gifts is growing in popularity.
After a weak first half of 2021, international tourism rebounded during the Northern Hemisphere summer season, boosting results for the third quarter of the year, especially in Europe.
An increasing share of Europeans sticks to their original travel plans but concerns over rising COVID-19 cases at destinations have intensified by 20%.
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