WTTC, Hotelbeds Track The Global Tourism Trends
The World Travel & Tourism Council (WTTC) has partnered with Hotelbeds to bring sector leaders together in Palma, Mallorca, to delve into the ever-evolving dynamics of global travel and tourism.
The “Global Trends in the Tourism Sector” event provided a platform for attendees to gain insights into the current state of travel and tourism through presentations and discussions led by Julia Simpson, WTTC President & CEO, and Hotelbeds’ CEO Nicolas Huss.
It also acknowledged the thriving tourism landscape, both on a global scale and within the Balearic Islands. In 2022, global travel and tourism experienced an extraordinary growth rate of 22%, primarily driven by the lifting of pandemic restrictions and a surge in spending by foreign visitors.
Julia Simpson, WTTC President & CEO, observed: “Today, we witness a thriving Travel & Tourism sector, not just in the Balearics, but worldwide, with strong performance in Spain.”
Simpson continued: “Post pandemic leisure travel is booming. But travel patterns are changing. In the Balearics. we are seeing a longer season. Luxury travel is particularly strong with hotels leading with new products for this market.”
The WTTC’s boss also noted that: “Travellers want to travel more sustainably. Travel & Tourism can grow and protect the planet. Let us come together to shape a sustainable future for travel and tourism.”
During the event, held at the TravelTech Lab in Hotelbeds’ headquarters in Palma, Spain was recognized as a global leader in tourism, with the sector, contributing significantly to its economic landscape. Projections indicated that by the end of 2023, this sector will represent a remarkable 14.6% of Spain’s GDP and provide employment to nearly three million Spaniards, underscoring its crucial role in job creation.
Nicolas Huss, Hotelbeds CEO, said: “As we come to an end for the summer season, we should reflect and celebrate what the sector has achieved this year. The strong commitment of companies throughout the tourism ecosystem to work together with external partners, including those in the innovation sphere, will be critical to ensure Travel & Tourism continues to thrive.”
The CEOs also spotlighted the sector’s shift from corporate to leisure travel, with the latter currently accounting for a significant 88% of travel spending in Spain. This transformation is expected to continue, further strengthening the leisure travel segment.
Hotelbeds predicts that three trends that will continue to define the traveller of the future, namely:
- Trips that combine leisure and business supported by the shift to remote working in recent years
- Sustainable travel, driven largely by Gen Z who are more conscious of their environmental footprint. Both companies are committed to this shift and have signed an agreement for Hotelbeds to join the WTTC’s Sustainability Basics program to raise awareness and encourage properties to be more environmentally friendly
- The rise of personalized travel; While people want to be able to book their trips at the click of a button, technology is being increasingly used to deliver tailored experiences, often supported by artificial intelligence