WTTC, Hotelbeds Reveal Global Tourism Trends

The World Travel & Tourism Council (WTTC) partnered with Hotelbeds to bring sector leaders together in Palma, Mallorca, to delve into the ever-evolving dynamics of global Travel & Tourism.

Titled “Global Trends in the Tourism Sector”, the event provided a platform for attendees to gain valuable insights into the current state of Travel & Tourism through presentations and discussions led by Julia Simpson, WTTC President & CEO, and Hotelbeds’ CEO Nicolas Huss.

The event acknowledged the thriving tourism landscape, both on a global scale and within the Balearic Islands. In 2022, global Travel & Tourism experienced an extraordinary growth rate of 22%, primarily driven by the lifting of pandemic restrictions and a surge in spending by foreign visitors. 

During the event, held at the TravelTech Lab in Hotelbeds’ headquarters in Palma, Spain was recognised as a global leader in tourism, with the sector, contributing significantly to its economic landscape. Projections indicated that by the end of 2023, this sector will represent a remarkable 14.6% of Spain’s GDP and provide employment to nearly three million Spaniards, underscoring its crucial role in job creation.

The CEOs also spotlighted the sector’s shift from corporate to leisure travel, with the latter currently accounting for a significant 88% of travel spending in Spain. This transformation is expected to continue, further strengthening the leisure travel segment.

Hotelbeds’ data shows that this summer the traditional flows of travellers have not only been maintained but also increased, coming from the United Kingdom (+17%) and Germany (+29%) to the Balearic Islands. In addition, countries including France and Portugal have seen growing demand to the islands while long-haul markets out of Europe, such as the United States, are also growing.