Over the past 10 years, the surge of recovery, combined with an economic turning point in global emerging markets, fueled a historic burst in demand felt by segments across the travel industry. From 2009 to 2017, U.S. hotel gross bookings grew from $116 billion to $185 billion, while airline revenue jumped from $155 billion to $222 billion.¹.. Key trends powering growth in a technology-driven industry. Key travel and hospitality industry trends for 2019. Over the past 10 years, the surge of recovery collided with an economic turning point in global emerging markets—fueling a historic burst in travel demand felt by segments across the travel industry.
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Travel managers have also reduced their expectations for recovery in 2022. Only 17% expect a full recovery by the end of 2022, versus more than half of the respondents to the 2021 survey. The experience of the delta and omicron variants partly explains this less optimistic outlook.. Deloitte's 2024 travel industry outlook. After more than two years of consistent year-over-year gains, leisure travel may have tapped all its pent-up demand from the peak pandemic years. Jan 25, 2024. Despite this optimistic outlook, could an economic downturn shift travel behaviors?
