World Travel Market London 2023, the world’s most influential travel and tourism event, revealed the latest trends shaping the industry when it released its Global Report on the first day of the show on Monday 6th November.
The exclusive WTM Global Travel Report, compiled in association with renowned researchers at Tourism Economics, an Oxford Economics company, shows how leisure travellers’ needs and desires are changing – and shines a spotlight on emerging and growing destinations for 2024 and beyond. Media had exclusive access to the report and found out about the key developments highlighted at the WTM press conference and media breakfast at the International Media Centre (N1-500).
There was also a session later in the day, called ‘WTM Presents…A Global Travel Report’ which revealed the full report in detail, followed by a panel discussion WTM Global Travel Report: The Industry Impact in association with Oxford Economics on the Elevate Stage.
Attendees gained valuable insights into the shifting landscape of travel and learnt about consumer demands, helping them shape their business and plan for the future.
During the panel discussion, industry figureheads from across the sector shared their thoughts about how the trends will affect their plans for marketing, sales, innovation and investment in the coming months and years. The report detailed 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 cost-of-living squeeze – and compares the varying fortunes of different regions and markets. The WTM Global Travel Report delves into the drivers of demand in this post-pandemic era, examining how and why travellers are prioritising their holidays above other types of expenditure, and considering the outlook for different demographics.
The authors have also studied issues affecting the travel trade, which has had to deal with crises such as wildfires, strikes and staff shortages while the sector has rebounded.
