Despite the many notable geopolitical, socioeconomic and climate-related challenges that remain top of mind for travel professionals and consumers, the mood at World Travel Market (WTM) – one of the world’s largest travel and hospitality industry events, which took place on 5-7 November in London – was refreshingly optimistic. Global travel sales in 2024 finally recovered from the pandemic, reaching or surpassing 2019 spending levels, depending on the segment, and are expected to grow to record levels in 2025.
“Revenge travel” is now a thing of the past. Rather than travelling at any cost, consumers are slowing down and travelling more meaningfully, even if that means they travel less often. Slow travel is being weaved into more mass travel options, empowering consumers to travel better. This was a consistent theme among the many presentations and panel discussions I attended, and from the conversations I had on the trade fair floor.
The bottom line is that consumers are spending more when they travel, even if that means they travel less often.
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