With 1.3 billion international visitors in 2023, global tourism industry close to 2019 peak: OECD

1.5 billion international tourists expected in 2024
2024-07-11
/
/ New Delhi
With 1.3 billion international visitors in 2023, global tourism industry close to 2019 peak: OECD
With 1.3 billion international visitors in 2023, global tourism industry close to 2019 peak: OECD

Countries in Europe benefited from significant intra-regional travel

About 1.3 billion international tourists were recorded in destinations worldwide in 2023, a recovery to 89 pc of pre-pandemic levels while this is projected to reach 1.5 billion by the end of 2024, says a study by OECD.
Rate this post

Colombia has seen a 34 pc hike in tourism while Portugal was up 12 pc and international tourist arrivals reached new highs exceeding pre-pandemic levels in 2023, says a report published by the Organisation for Economic Cooperation and Development (OECD), a club of rich countries.

According to the report, OECD Tourism Trends and Policies 2024, although some OECD nations have seen rapid recovery, it has still been slower in countries like Australia, Finland, Japan and New Zealand.

As international tourism flows bounce back strongly and are projected to fully recover by the end of 2024, recovery is still uneven, and challenges remain. The study analyses the latest tourism performance and policy trends across 50 OECD countries and partner economies.

After falling by 68.3 pc in 2020, slightly below the drop of 72.3 pc globally, by the end of 2022 international tourist arrivals to OECD countries had recovered to 77.3 pc of 2019 levels. 

This is ahead of 66.6 pc globally. OECD countries accounted for 65 pc of international tourism arrivals in 2022, up from 56 pc in 2019, highlighting stronger performance compared to non-OECD countries since the pandemic. 

This recovery momentum has continued, and globally, an estimated 1.3 billion international tourists were recorded in destinations worldwide in

2023, a recovery to 89 pc of pre-pandemic levels, and this is projected to reach 1.5 billion by the end of 2024.

International tourist arrivals exceeded pre-pandemic levels in some OECD countries in 2023, with countries in Europe leading the way. Portugal welcomed a record 19.4 million international tourists, 12.1 pc more than in 2019. 

The statement adds that other countries that saw arrivals reach or exceed pre-pandemic levels include Colombia, Luxembourg (2.1 pc), Netherlands (1.4 pc), Norway (1.2 pc) and Spain (2 pc).

Countries in Europe benefited from significant intra-regional travel, while a strong US dollar boosted outbound travel from the United States to Europe.

This strong recovery in the tourism economy is supporting wider economic activity, including in countries where the sector has been particularly dynamic, such as Greece, Portugal, Switzerland, and Türkiye. 

In Portugal, tourism directly contributed 8.9 pc of Gross Value Added (GVA) to local economy in 2022

In Portugal, tourism directly contributed 8.9 pc of Gross Value Added (GVA) to local economy in 2022

In a few countries the relative size of the tourism economy expanded as the sector has outperformed wider economy growth. In Portugal, for example, tourism directly contributed 8.9 pc of Gross Value Added (GVA) to local economy in 2022, compared with 8.1 pc in 2019. 

The statement adds that in some countries, tourism has surpassed previous highs, demonstrating the resilience of tourism demand. However, the strength of the recovery is creating challenges in destinations that are struggling to manage demand and the impacts on local communities and the environment. 

Tourism can play a key role in fostering economic development that creates decent jobs, enhances social cohesion, and contributes to the shared interests of tourists, residents, and businesses, the study highlights. 

The report underscores the sector’s pivotal role in driving economic prosperity, jobs and well-being, with tourism´s direct contribution to GDP bouncing back to 3.9 pc in 2022 in 20 OECD countries with available data, just half a percentage point down on 2019.  

Tourism also contributed 14.8 pc to service exports in 2022, still below pre-pandemic levels, but up from 9.7 pc in 2021. The recovery has continued since, spurred by the recovery in international arrivals and strong domestic performance.

A full global recovery is projected by the end of 2024, buoyed by positive traveller and business sentiment, and pick up in travel in Asia Pacific, including from China, with growth anticipated to return to pre-pandemic trends as demand and supply imbalances continue to unwind. 

However, recovery is uneven and challenges remain. While tourism demand has proven resilient, businesses struggle to attract and retain workers and although inflation is abating, price pressures continue to impact transport, accommodation and hospitality costs.

Geopolitical tensions remain high, and the increasing frequency of wildfires, floods, heatwaves, and other extreme weather events is impacting the sector. Looking ahead to the longer term, tourism is expected to continue to grow. This creates significant opportunities but also brings renewed challenges, reinforcing the importance of policies to support a resilient, sustainable, and inclusive future.

You may also like
Personalisation to be key in global luxury travel boom: Belvera Partners
Personalisation to be key in global luxury travel boom: Belvera Partners
‘Waterfront Duck’ to offer tours of Cape Town waterfront
‘Waterfront Duck’ to offer tours of Cape Town waterfront
Ecuador unveils new brand positioned on year-round sunlight for 12 hours
Ecuador unveils new brand positioned on year-round sunlight for 12 hours
Paris stays
Japan tops Asia for searches to Paris, India ranks 5th: Agoda

Leave a Reply

Get Magazine