The United Arab Emirates’ inbound tourism spend is expected to cross $25.3 billion by the year 2025, according to findings of Travel Forecast Model from leading market research firm Euromonitor International.
Tourism industry has been halted due to the COVID-19 pandemic but experts claim that the industry will recover in 2022. However, mass vaccinations and constant testings of travellers needs to adopted worldwide.
Caroline Bremner, head of travel and tourism research at Euromonitor International, said:
World inbound tourism spending collapsed by 57% in 2020, and our forecast expects it to rebound by 82% in 2021.
She presented all the facts and findings of Euromonitor International’s Travel Forecast Model in a webinar called ‘Travel Industry Update with Euromonitor 2021’.
Caroline further claimed:
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.
Additional concerns were also discussed where Caroline mentioned that 65% of consumers also 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.”
