KUALA LUMPUR, Oct 1 — The global travel industry is expected to reach almost US$3 trillion (RM12.6 trillion) and grow by 3.3 per cent by 2024, according to a new research released by Euromonitor International.
In a statement, the global market research company said the online travel sales would account for the largest share at 52 per cent, with mobile sales representing a quarter of all travel bookings.
According to Euromonitor International travel industry manager, Caroline Bremner, its latest lifestyle survey shows that 43 per cent of global consumers prioritise experiences over material possessions, while 78 per cent value real world experiences this year.
Domestic tourism is becoming popular, mainly influenced by rising incomes in emerging markets. It is expected to grow at eight per cent annually, reaching 19 billion trips by 2024, in comparison to international arrivals, expected to reach 1.8 billion trips.
The company will reveal the “Megatrends Shaping the Future of Travel: 2019 Edition” report during the World Travel Market London on November 5. — Bernama
