Based on this analysis, if flight booking trends continue at current rates, an estimated 1.5 billion passengers will travel around the world compared to last year. Based on general information about tourismAnd In addition to anonymous sales activity data from the Mastercard network, the report analyzes key elements in traveler patterns. The main conclusions up to April 2022 are:
–Business and leisure travel beyond pre-pandemic levels: Since the end of April, global leisure flight bookings have exceeded pre-pandemic levels by 25%.: Short distances increased by 25% while average distances increased by 27%. On the other hand, global business travel bookings surpassed 2019 levels for the first time in March, with long-term growth in double digits in April. Returning to the office was a decisive factor.
Spending on global cruises grew 62 percentage points from January to the end of April
–The transport sector is witnessing a recovery in spending: Global spending on cruises grew 62% in the January-April period, although still below 2019 levels. Buses have recovered to pre-pandemic levels, while spending on train tickets per passenger remained below 7%. . In addition, road travel remains attractive, with spending on tolls and car rentals increasing by about 19% and 12%, respectively.
–Travelers spend more on experiences than on things: Spending on experiences is now 34% higher than 2019 levels; The areas with the largest increase in spending are bars and nightclubs (72%) and amusement parks, museums, concerts and other leisure activities (35%). Spending on international tourism on experiences grew by 60% in Singapore and about 23% in the United States. In the UK, spending in each month of 2022 doubled than in 2019. In fact, spending in April 2022 grew by 140% compared to the same month in 2019.
–Restrictions eased: The positive development of the epidemic and the return to normal life in most parts of the world, with the exception of some parts of Asia and the Pacific, has boosted travel bookings. The result is that United States, United Kingdom, Switzerland, Spain and the Netherlands are now the main destinations for tourists from all over the world.
“Like any trip, the tourism boom has faced headwinds and tailwinds. As ‘Great Rebalancing’ is happening around the world, this commute is essential to get back to the life we had before the pandemic,” says Bricklin Dwyer, MasterCard Economist. Director of the MasterCard Institute of Economics. “Consumer resilience to return to ‘business as usual’ and make up for lost time makes us optimistic that recovery will continue, even if there are obstacles along the way.”