International travel smashed financial growth

 Friday, March 8, 2019 

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Last year, the number of outbound trips grew by 5.5 percent, resulting in 1.4 billion foreign trips. Therefore, once again tourism is a major growth propeller of global economy, which “only” increased by 3.7 percent in comparison.

 

Growth is approaching from various regions world over, also from the mature markets of Europe and North America. However, the strongest benefits came from Asian and Latin American markets. For 2019, taking into account a slowing world economy, also a somewhat lower growth rate is anticipated for world travel. Overtourism could turn out to be yet another rising problem for the tourism, with greater number of international travelers feeling the impact of overcrowded destinations.

 

These results are based on recent outcomes of IPK’s World travel Monitor, an annual survey evaluating the outbound travel behavior in over 60 countries worldwide, covering almost 90 percent of the global outbound demand.

 

Asia is growth driver as Turkey shows strong recovery.

 

In 2018, Asia was the strongest source region with 7 percent more outbound trips. Latin America followed with a plus of 6 percent as there were more 5 percent from North America and Europe. While looking at the destination regions, once again Asia but also Europe were the global winners by having 6 percent more foreign trips each, as the Americas were evidently below with a plus of 3 percent.

 

Concerning destination countries, one of the major changes was the stagnation of trips to Spain last year, a destination that got record number of visitors in the recent past. On the other hand, destinations which tourists avoided the most in the past are recovering, above all Turkey with 8.5 million more visitors in 2018 in comparison to 2017. Vacations once again surpass business trips, as a result of continuous downward path of traditional business trips, as MICE trips continued on a growth path.

 

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