Global tourism is projected to fully rebound from the impact of COVID-19 by 2024, according to the UN World Tourism Organization. In 2023, international tourist arrivals reached approximately 1.29 billion, representing 88 percent of the 2019 levels.
While Europe, Africa, and the Americas experienced recovery rates of 94 percent, 96 percent, and 90 percent respectively compared to 2019, the Asia-Pacific region lagged at 65 percent.
Northeast Asia, including Japan and China, saw a slower recovery at around 55 percent of 2019 levels. Japan welcomed 25.07 million tourist arrivals in 2023, about 80 percent of the level in 2019, with factors such as a weak yen contributing to its attractiveness.
The UNWTO anticipates a boost in tourism, especially from China, aided by pent-up demand and increased air connectivity.
However, geopolitical risks, particularly in the Middle East due to the conflict between Israel and Hamas, pose significant challenges to sustained recovery. In 2023, global tourism revenues reached $1.4 trillion, equivalent to 93 percent of 2019 levels.
Source: PhilNews24 | January 29, 2024
