It's a post-pandemic world, but most Americans don't feel their dream getaways have become more attainable. Brands would be wise to understand that sentiment as they compete to sell travel in the marketplace.
Booking.com and Airbnb are raiding each other's territories. With their different roots, Booking.com needs to grow short-term rentals in the U.S. while Airbnb seeks to expand in Europe and elsewhere internationally.
So 2022 was the first growth year for investment in the global tourism sector since the pandemic. Even so, the sector is down over $100 billion down from its pre-pandemic level. It still has a long way to go for a full recovery.
Global travel declined from June to July, similar to the downward trend we saw this time last year. Hong Kong was the only country with an uptick in Skift's Travel Health Index.
While India has much reason to cheer over UPI transactions in Paris, it must wait and watch to get more clarity on the cost of the transfer as the adoption accelerates.