Rebound in Global Travel: Surge in ‘Revenge Tourism’ and Business Travel

As the world continues to recover from the pandemic, the travel industry is poised for a significant rebound, driven in part by the surge in ‘revenge tourism.’ According to the UN World Tourism Organisation, global travel is expected to reach 95% of pre-pandemic levels in 2023, a substantial increase from 63% in 2022. This phenomenon is attributed to the pent-up demand for travel after prolonged restrictions.

Business Travel Bounces Back

Business travel is also forecasted to recover more quickly than initially anticipated. The Global Business Travel Association predicts that spending levels will return to pre-pandemic norms by 2024, two years earlier than first thought. This resurgence signals a recovery in the world economy and a return to our pre-pandemic way of life.

Passport Processing Times Normalized

In preparation for the anticipated increase in travel, the State Department reports that passport processing times have returned to normal after months of delays due to post-pandemic travel surge. The waiting time for passports, which were as long as three months, has been reduced to 6 to 8 weeks. With over 24 million passports processed, the department is optimistic about the launch of an online passport renewal system in the coming year, which is expected to further improve processing times.

Challenges on the Horizon

While the outlook for the travel industry is positive, challenges remain. Travelers should anticipate continued flight delays into 2024 due to increased travel activity, crowded airports, and extended waiting times. Other looming issues include maintaining the demand for luxury leisure, transparency in pricing, climate change, geopolitical instability, and global economy fluctuations. Despite these obstacles, industry advisors remain optimistic about the future of travel and the potential impact of new AI tools on enhancing the customer journey.