Future of Travel and Tourism 2025

Endnotes 1 UN Tourism. (2024). UN World Tourism Barometer Report. 2 Data shared with the authors by Tourism Economics, an Oxford Economics company. https://wttc.org/research/ economic-impact. 3 Ibid. 4 World Travel and Tourism Council (WTTC). (2024). Travel & Tourism Economic Impact 2024: Global Trends. 5 Ibid. 6 Bianchi, R.A. (2024). Polycrisis and the metamorphosis of tourism capitalism. En Annals of Tourism Research, 2014. 7 UN Tourism. (2024). UN World Tourism Barometer Report. 8 Invest In Spain - Gobierno de España Ministro de Economía, Comercio y Empresa. (14 February 2024). Spanish Tourism sets records in 2023. https://www.investinspain.org/content/icex-invest/en/noticias-main/2024/turismo-2023.html. 9 Basit, A. K. (2012). Tourism is helping to drive Dubai’s greatest economic growth in five years. SKIFT. https://skift. com/2012/11/27/tourism-is-helping-to-drive-dubais-greatest-economic-growth-in-five-years/. 10 Jianchun Yang, Y. W. (2021). A Study on the Efficiency of Tourism Poverty Alleviation in Ethnic Regions Based on the Staged DEA Model. 11 The Blue Start Travel and Vacation Index tracks the performance of the largest and most liquid United States-listed companies in the travel and vacation industries. Companies included are MakeMyTrip, Royal Caribbean, Trip.com, Hilton, Marriott Group, etc. 12 Measured by beta which is used as a measure of risk in the CAPM model and typically defined as a measurement of the volatility of returns relatively to the entire market. As of January 2024, air transportation, hotels and restaurants had betas of 1.27, 1.34 and 1.19, respectively. See Damodaran, A. (2024, January 5). Betas by Sector (US). Retrieved from NYU I Stern: https://pages.stern.nyu.edu/~adamodar/New_Home_Page/datafile/Betas.html. 13 Booking.com. (2024). Top 5 sources of trip inspiration for travellers. Retrieved from Partner Hub (Booking.com): https:// partner.booking.com/en-gb/click-magazine/trends-insights/top-5-sources-trip-inspiration-travellers. 14 Oxford Business Group. (2020). Dubai’s Well Established Sector Sees New Strategy. Retrieved from https:// oxfordbusinessgroup.com/reports/uae-dubai/2020-report/economy/stay-for-the-hospitality-a-new-strategy-places-the- already-robust-sector-on-a-path-to-sustained-growth-and-firm-footing. 15 World Tourism Organization. (2020). AlUla Framework for Inclusive Community Development through Tourism. 16 Kearney. (2024). In the mind of global travelers: how travelers’ evoling expectations are reshaping tourism. 17 Ibid. 18 Ibid. 19 NZ Māori tourism offers unique experiences in New Zealand that emphasize environmental stewardship and community collaboration, making it an example of regenerative tourism by restoring natural ecosystems, and supporting local communities. 20 World Travel & Tourism Council. (2023). The Enviromental Impact of Global Tourism. 21 McCauley, D.A. (2023, December 21). How to end plastic pollution, forever. https://www.weforum.org/stories/2023/12/ how-to-end-plastic-pollution-forever/. 22 Advance Plants. (2023,July12). Behind the scenes: Changi Airport green walls. https://advanceplants.com.au/behind- the-scenes-changi-airport-green-walls/. 23 Far and Wild Travel. (2022, August 29). Gorilla trekking – everything you need to know. https://farandwild.travel/wilder/ article/gorilla-trekking-everything-you-need-to-know . 24 Rwanda Development Board. (17 November 2020). Rwanda receives Lonely Planet Best in Travel 2021 ‘Wildlife Program’ award. https://rdb.rw/rwanda-receives-the-lonely-planet-best-in-travel-2021-wildlife-program-award/. 25 Volcanoes National Park Rwanda. (2022, December 1). Rwanda’s Conservation Efforts. Retrieved from Volcanoes National Park Rwanda. https://www.volcanoesnationalparkrwanda.com/rwandas-conservation-efforts/. 26 Salzburg leverages multiple data sources to analyse visitor flow: this includes data from traffic sensors from large parking garages, numbers for the Old Town Shuttle, counting sensors, WLAN scanners, etc. Data is continuously and automatically collected, and is used to discover patterns likely to influence visitor behaviour in future and inform forecast models for visitor flows. See Salzburg Research. (2022). Visitor management in tourism in Salzburg. https://www. salzburgresearch.at/en/erfolgsstory/visitor-management-in-tourism/. 27 AON. (2023). 2022-2023 Global Wellbeing Survey. 28 Gielan, M. (2021). Planning Travel Creates Hapiness. Institute of Applied Positive Research. Future of Travel and Tourism: Embracing Sustainable and Inclusive Growth 15