Global Business Travel Industry Sees Rebound in 2023 With Shifting Challenges and Opportunities for 2024

03-11-23

World Travel Market London 2023, the world's most influential travel and tourism event, will reveal the latest trends shaping the industry when it publishes its Global Report on the first day of the show, Monday, November 6

The exclusive WTM Global Travel Report, compiled in partnership with renowned researchers from Tourism Economics, an Oxford Economics company, shows how the needs and desires of leisure travelers are changing and highlights emerging and growing destinations for 2024 and beyond.

Media will have exclusive access to the report and learn about key developments highlighted at the WTM press conference and press breakfast in the International Media Center (N1-500) from 10:00-11:00 on Monday, November 6.

There will also be a session later that day, called 'WTM Presents...A Global Travel Report' which will reveal the full report in detail, followed by a WTM Global Travel Report: The Industry Impact panel discussion in association with Oxford Economics on the elevated stage, from 14:15 to 15:30.

Attendees will gain valuable insights into the changing travel landscape and learn about consumer demands, helping them shape their business and plan for the future.

During the roundtable, leading industry figures from across the sector will share their views on how trends will affect their marketing, sales, innovation and investment plans in the coming months and years.

Juliette Losardo, WTM London exhibition director, said:

"We are delighted to launch the first WTM Global Travel Report, which demonstrates our commitment to ensuring the travel community has the latest information on the trends shaping the industry and will underpin the discussions, meetings and planning that will take place over the three days at WTM. ''

"We partnered with Oxford Economics, a leader in tourism data and economics, and the report presents international research findings, using an extensive databank covering nearly 185 countries around the world as destinations and source markets and all major bilateral tourism flows in terms of visits, nights and spend, plus unique industry information, the report offers a comprehensive perspective on tourism."

"The global perspective and vast and informative findings will provide delegates with invaluable insights to ensure they remain at the forefront of the travel industry."

The report will detail how the market has fared in 2023 and forecasts how domestic and international leisure travel will develop in 2024.

It considers the impact of challenges such as inflation and the falling cost of living, and compares the different fortunes of different regions and markets.

The WTM Global Travel Report will delve into the drivers of demand in this post-pandemic era, examining how and why travelers are prioritizing vacations over other types of spending and considering the outlook for different demographic groups.

The authors also looked at issues affecting the travel industry, which has had to deal with crises such as wildfires, strikes and staff shortages as the industry recovered.

Losardo, concluded:

"We have heard many positive stories in recent months, from exhibitors and partners, about the success of the 2023 trade, despite many obstacles. This report will back up the buzz, with updated data and expert commentary.

"Looking ahead to 2024, this report is there to help delegates develop their strategies for the year ahead and beyond, armed with a deeper understanding of the forces that will shape the future of our industry."