Euromonitor International is set to host a webinar with WTM Global to discuss prospects for the global travel and tourism market. Caroline Bremner, the company’s head of travel and tourism research will be in attendance.
The virtual event will take place on March 25, 2021, starting at 6pm GST (2pm GMT) on WTM Global Hub. Bremner will present the findings of Euromonitor International’s Travel Forecast Model, which predicts that global inbound tourism spending will recover by 2022 at the earliest – as long as mass vaccinations and testing enable travel to resume safely.
“World inbound tourism spending collapsed by -57% in 2020, and our forecast expects it to rebound by 82% in 2021,” she says.
In the Middle East, inbound tourism spending for Saudi Arabia is predicted to grow to $33.5 billion by 2025. UAE’s inbound tourism spend, meanwhile, is expected to top $25.3 billion during the same year.
“In our most pessimistic scenario, spending growth is predicted to rise by 40% in 2021, leading to a more prolonged recovery timeline, returning to pre-crisis levels by 2024.” She will also discuss Euromonitor International’s recent Voice of the Consumer global survey, which found that 65% of consumers remain concerned about climate change.
“Consumers are increasingly interested in having a positive impact on the environment through day-to-day actions,” adds Bremner. “France and Germany show high levels of interest in sustainable travel.”
Claude Blanc, WTM Portfolio Director, says: “WTM Portfolio has been at the forefront of shaping the travel industry’s revival and this Euromonitor webinar is our latest online forum for professionals to hear up-to-the-minute global research and find out how to capitalise on the pent-up demand from consumers.
“We have been working with governments and the private sector around the world to create a safer, smarter and greener travel and tourism industry.”