Oxford Economics reveal record high tourism figures
They have returned to pre-pandemic levels
Oxford Economics have revealed record high tourism figures, back to pre-pandemic levels.
New data from Oxford Economics showed that last year Travel & Tourism numbers were still below pre-pandemic levels, but this year a new record level of 1.5 billion overnight arrivals are forecast by the end of the year.
David Goodger from the Oxford based service said:
"Travel has always accounted for around 8% of total spending, in 2019 it was at a high point and this year it will be above that and hit new record highs as people are prioritising travel and experiences over other spending.
The travel sector is going to continue to provide a large amount of economic activity, a large amount of jobs. Pre-pandemic we saw around 1 in 10 jobs worldwide were supported in travel and we are getting back to that situation now and we are going to see huge amounts of job creation and economic growth from travel spending.
It's definitely benefitting the UK and we are seeing travel going beyond immediate hot spots, so there is growth to the main hub and capital cities, but people are wanting to explore beyond that so the likes of Oxford absolutely going to benefit and see that growth."
This month Travel CEOs and tourism ministers will gather at the world’s most influential travel & tourism event, World Travel Market London, to exchange ideas, drive innovation, and accelerate business outcomes that will shape the future of travel and tourism.