HOTELS across the Australasian region are capping occupancy levels in the face of ongoing staff shortages, new research from Euromonitor found, with the issue likely to continue until backpacker numbers recover to pre-COVID levels.
The report, which was presented as part of a Webjet briefing for merchant bank UBS, predicts that global domestic tourism spend will rise to more than $4.5 trillion in 2028, along with $3 trillion-plus in spending by international tourists around the world.
Although global inbound travel arrivals are expected to be almost 30% above pre-pandemic levels by 2028, according to the global research firm, the Asia-Pacific region is recovering at a “slow and steady” rate. Wellness, theme parks, and food and dining are forecast to be the fasting-growing categories, at 15%, 14% and 13% respectively.
Meanwhile in Europe, duty-free shopping is predicted to see strong growth, up 11%, followed by festivals and leisure events (7.9%) and guided tours (6.8%). Duty-free shopping is also expected to be the fastest-growing category in America (9%), ahead of medical tourism (7%) and experiences (7%).
The new report also looks at the hotel wholesale sector, which is estimated to be worth US$58.6 billion, and is expected to see 7.7% compound annual growth.
