Share to Facebook Share to Twitter Share to Linkedin The travel industry experienced substantial growth in 2024. The trillion dollar travel industry is constantly evolving in order to meet the needs of a fickle traveling public. Once tried and true practices give way to new, innovative concepts while others seem to follow the adage, “What goes around comes around.
” Despite the industry’s mercurial nature, 2024 proved to be an exceptional year for travel and its far-reaching tentacles. When all the numbers are finalized, the travel industry in 2024 is projected to see a significant rebound, with international tourist arrivals reaching almost 96% of pre-pandemic levels, contributing to a record-breaking $11 trillion contribution to global GDP, making travel and tourism a major economic force globally. The following factors contributed to travel’s success.
There has been a resurgence in business travel. Business Travel “It’s been an exciting year for business travel, as more and more companies have embraced the return to the road,” says Billy McDonough, FCM President, Americas, a recognized leader in the business travel space. “In major markets around the country, we have seen a resurgence in travel, especially in cities with robust and diverse business communities.
The growing enthusiasm for business travel has been evident throughout the year. And with traveler confidence on the rise and increased opportunities for growth in cities all across the U.S.
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