The expansion of BRICS+ marks a pivotal shift in the global economic landscape, offering a strategic response to escalating trade tensions and mounting geopolitical uncertainty. By integrating diverse emerging markets, fostering deeper cooperation and diversifying trade routes, the growing bloc can help to enhance supply chain resilience and mitigate exposure to global risks, while its vibrant consumer base offers vast growth opportunities, fuelled by rising incomes and evolving demand.
There’s a surge in experience tourism in Middle East and Africa, with travellers seeking more immersive, culturally enriching, and adventurous activities than the traditional sightseeing and shopping. Rather than simply visiting landmarks or collecting souvenirs, travellers are exploring wellness retreats, local cultural engagements, and thrilling adventures that leave a lasting impact with the destinations they visit.
Our Chart of the Month series provides visuals that can help you navigate economic uncertainty and make informed decisions on spending, investment, and consumer engagement. This month, we are looking at global inflation.
Join Caroline Bremner, Senior Head of Travel Research at Euromonitor International, as she highlights five key trends shaping the future of travel and tourism; essential viewing for anyone in the industry. Despite economic challenges, travel is thriving, driven by the key trends of immersive experiences; travelling with intent; the connected trip; alignment with values, while sustainable, people-centric models ensure a resilient future.
The Euromonitor International Top 100 City Destinations Index 2024 delivers actionable insights into the performance, appeal and potential of urban markets. It compares 55 different metrics in partnership with Lighthouse across six key pillars for 100 city destinations, to create an overall city attractiveness score. It looks at Economic and Business Performance, Tourism Performance, Tourism Infrastructure, Tourism Policy and Attractiveness, Health and Safety, and Sustainability.
The global travel industry is expected to experience unprecedented growth in 2024, with 1.5 billion international trips forecast to generate a record-breaking USD1.9 trillion in tourism spending. Yet travel dynamics have changed profoundly due to global events such as the pandemic, wellness and sustainability and rapid technological advances.