Travel and Tourism at a Turning Point 2025

Challenges arising from SME digitalization and resiliency/financing FIGURE 7 Source: OECD86,87 Infrastructure and investment requirements Projected growth requires significant expansion and enhancement of physical infrastructure, both presenting a challenge in terms of financing and coordination and an opportunity to reshape the sector’s foundations. Although quantifying the total number of tourists trips is challenging, estimates suggest there will be approximately 30 billion tourist trips globally by 2034. Based on current traveller ratios, this implies that about 7 million additional hotel rooms, close to 15 million flights annually and cruise infrastructure to support 300,000 extra berths will be required in the years ahead. These would be in addition to the corresponding expansion of roads, utilities and waste management systems and digital connectivity. Overall, these requirements translate to trillions of dollars in capital investment over the next decade, with significant regional variations based on growth patterns and existing infrastructure gaps.9 Digitalization challenges (% of employees with devices with online connection) 2009 201940%50%40%52% 23%32% Hospitality SME s (average)68%83%+33 Feared going out of business during COVD-19 in thr ee months50%40%33% Feared going out of business during COVID-19 in one mont h Caption: Sakura flower season, Tokyo, Japan Travel and Tourism at a Turning Point: Principles for Transformative Growth 18