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International tourism revenue is also increasing

INTERNATIONAL TOURISTS INCREASED 182 PERCENT IN THE FIRST QUARTER OF 2022

UNWTO announces global tourist numbers

According to UNWTO, global tourism destinations hosted almost twice as many foreign tourists in the first quarter of 2022 than in the same period of 2021, and three times more in March. Thus, as the return to pre-Covid levels began, the fastest development was recorded in Europe.

International tourism revenue is also increasing

According to the United Nations World Tourism Organization (UNWTO), international tourism grew 182% annually between January and March this year. Touristic destinations around the world hosted approximately 117 million foreign tourists. That level was just 41 million in 2021. The global volume of tourism still reached 39% of 2019 level. The biggest increase in international tourism occurred in March 2022. While the number of international tourists increased by 280%, Europe is in the first place at the beginning of the revival.

Revenues from tourism also recovered faster. According to UNWTO, its revenue from global international tourism increased 4% in real terms, but revenues came to 40% of 2019. CapitalPanda, on the other hand, estimated that tourism lost a total of $2 trillion in 2020 and 2021.

Revenues reached around 50% of the European 2019 level.

Expectations in international tourism

According to the UNWTO survey, 83% of industry respondents believe this year will be much better than last year. The ongoing war in Ukraine adds to the uncertainty. High inflation, which increases fuel prices, may reduce interest in traveling abroad.

Half (48%) of the survey believe that international tourism volume will return to pre-pandemic levels by 2023. 44% believe international tourism will not resume until 2024 or beyond.

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