Forrester: Global travel spending ready for take-off
Global travel spending will recover to pre-pandemic levels by the end of 2024, driven by strong demand in North America, Europe and Asia-Pacific
Travel spending is on track to fully recover to pre-pandemic levels by the end of 2024, surpassing US$2 trillion, according to Forrester's Global Travel Market Forecast, 2024 To 2028
Key takeaways
- OTAs gain market share with the leading seven OTAs accounted for nearly 46% of global online travel spending in 2023, up from 40% in 2022.
- Among the 14 travel markets we examined, China and Japan are among those who have yet to fully recover to pre-pandemic levels.
- The travel market will grow faster than the global economy with the global travel market will see 6.0% CAGR between 2024 and 2028.
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