Euromonitor Webinar Assesses Prospects for Global Travel and Tourism
Euromonitor International – the leading market research firm – will host a webinar with WTM Global to discuss the global travel and tourism market prospects.
Called ‘Travel Industry Update with Euromonitor 2021’, the webinar will feature Caroline Bremner, Head of Travel and Tourism Research at Euromonitor International.
The virtual event will take place on 25th March 2021, starting at 6 pm GST (2 pm GMT) on WTM Global Hub [www.hub.wtm.com]
With almost 25 years of experience at Euromonitor International, Bremner is a regular commentator on World Travel Market trends.
She will present Euromonitor International’s Travel Forecast Model's findings, 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 said.
In the Middle East, inbound tourism spending for Saudi Arabia is predicted to grow to US$33.5 billion by 2025. UAE’s inbound tourism spend, meanwhile, is expected to top US$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,” added Bremner.
“France and Germany show high levels of interest in sustainable travel.”
“Using Euromonitor’s research, I will outline the outlook for recovery in different regions – and pinpoint opportunities as the market looks to ‘build back better.
“Consumer attitudes have changed during the pandemic, so we will look at how travel businesses can adapt while accelerating their digital and sustainable transformation.
“We’ll showcase noteworthy case studies to illustrate the most crucial trends and inspire others to seize opportunities in the coming months.”
Claude Blanc, WTM Portfolio Director, said: