Visa Says We're About to See a Huge Jump in International Travel
Skift Take
The boom in global travel is driving a huge increase in new tourism infrastructure development, which will make access easier and more affordable to more destinations, especially in emerging markets. But we will point out that the China and Russia numbers feel especially optimistic.
More than 280 million households globally will make at least one international trip per year by 2025, which represents a 35% increase over 2015 figures.
That's according to a new study published this week by Visa, in conjunction with Oxford Economics. Visa sees about 25 cents of every U.S. retail dollar spent around the world.
Two factors are driving the exponential jump in international travel.
First, the rise of the middle class worldwide is creating new demand in countries where travel was once the privilege of only the elite. Visa is labeling these new consumers as the "Traveling Class" because travel is becoming more and more a lifestyle necessity for them, especially for younger generations.
The report states, "Nearly half of all households
