Great rebalancing and calibration: the West announced tectonic changes in world tourism in 2022

Great rebalancing and calibration: the West announced tectonic changes in world tourism in 2022< /p>Tourism in 2022 is seeing a “great rebalancing and recalibration,” said the authors of a study by the Mastercard Institute of Economics. On the one hand, after two pandemic years, as expected, there has been a trend towards the restoration of both tourism in general and what tourists have been deprived of during these two years. The “experience economy” is catching up, tourists are actively spending on entertainment, preferring them to shopping. The second interrelated trend is that the driving factor of tourism of the new reality is the possibility and convenience of travel, therefore only those countries and destinations that have abandoned the “covid” restrictions in time and are accessible to the average tourist win.

Such conclusions are contained in study by the Mastercard Institute of Economics “Travel 2022: Trends and Changes”. According to him, tourism is making a strong comeback, leisure flight bookings are nearing pre-pandemic levels, and spending on other types of travel – such as cruise ships, buses and trains – is rising in at least 37 markets.

According to an analysis by the Mastercard Economics Institute, if booking trends continue at the same pace, 1.5 billion more passengers will travel worldwide in 2022 than last year. So far, by the end of April, the number of tourist flight bookings worldwide exceeded the level of 2019 by 25%; Bookings for short haul and medium haul tourist flights increased by 25% and 27% respectively.

Further on the highlighted trends that are tectonically changing world tourism in 2022: tourists clearly miss the impressions and entertainment that they were deprived of during the years of lockdowns. Spending on the “experience industry” grew 34% above the level of 2019; The largest increase in spending is observed in bars and nightclubs – 72%, as well as in amusement parks, museums, concerts and other entertainment events – 35%.

The second trend is that “the easing of restrictions will recalibrate the tourist map for 2022” – this is how the experts formulated it. “The affordability and convenience of travel has been a driving factor in booking destinations. While 2022 has seen restrictions ease in much of the world, with the exception of parts of the Asia-Pacific region, the countries that lift restrictions the fastest win. The US, UK, Switzerland, Spain and the Netherlands are now the top destinations for tourists,” the researchers say.

“A “great rebalancing” is taking place around the world, this mobility is critical to getting back to life before pandemic,” said Bricklin Dwyer, chief economist at Mastercard and head of the Mastercard Institute of Economics, adding that “the ability of consumers to return to normal and make up for lost time gives us optimism that the recovery will continue in the right direction, even if there are obstacles along the way.”

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