Overtourism and inflation, the main threats to travel industry

14-12-23

According to a new report from Euromonitor International, the biggest challenges facing the travel industry are efforts to combat overtourism through new and more costly tourist taxes, as well as ongoing economic headwinds such as inflation.

In its Top 100 Cities Index 2023, Euromonitor notes that several destinations are set to impose hefty visitor fees and reduce hotel capacity to limit the post-pandemic spike in tourist numbers and minimize the impact of travel on local communities and ecosystems.

Cities in countries such as Croatia, Iceland, Japan, Thailand, the Netherlands, Greece and the UK intend to use revenue from visitor fees to reinvest in sustainable development, conserve biodiversity and preserve local cultural heritage," says Euromonitor. Edinburgh is set to become the first UK city to introduce a visitor fee.