The Travel Industry is Predicted to Have a 78% Growth in the World by the End of 2022
By Space Coast Daily // August 17, 2022
2022 has shown great results for the travel industry, showing a significant increase in the first two quarters, reaching 56% growth in Europe, 83% in the USA, 34% in Latin America and 59% in Asian countries.
And many experts forecast further growth by the end of the year up to 78% since there are still a few more months for the year to come to an end. This number was the highest since 2020, which changes the forecasts of the experts for the following year.
Q3 is the highest season for traveling
Many case studies show that Q3 has always been the highest season for traveling. The all-time highest increase was 86%, which was in 2019, before the pandemic. And this year’s Q3 is predicted to be the all-time high number since 2020. According to the survey made by the experts at promocodius.co.uk, over 78% of people scheduling their travels are more prone to book trips in September, since it is the mildest season to travel abroad.
During a survey, experts checked with 100 people to see which is their favorite month to travel. 34 of them said that June and July are perfect for beach vacations, 58 people mentioned that they are mostly traveling in September, and only 8 people said that August is their preferred month. Those who preferred traveling in the Q3, explained it by the special offers provided by the travel agencies.
Around 57% of people mentioned that the discounts and special offers start to grow during this particular period, which makes them plan their travels during that time.
When asked which specific platform they used for special offers, over 60% mentioned Attraction tickets. This is a popular platform among Europeans and they get the Attraction Tickets discount codes here. Experts have researched that around seven people in ten always check for special offers and discounts while making their travel bookings. And these options give them the opportunity to find the best offers.
The holiday season is around the corner
Another reason that the growth would reach 78% is the holiday season. During the months of November and December, many people travel to visit their families for holidays. 2021 has shown an increase of 85% of growth in traveling since people could not visit their families abroad in 2020. And since the travel restrictions are exempted for many countries, the Holiday season has become another great time to travel.
Many specialists forecast an increase of at least 7% in comparison to the previous year. This is explained by the fewer Covid cases in the world. And even though the pandemic is not yet gone, it surely has winded down. With that said, the Holiday season also can have an influence on the final numbers for the travel industry.
The bottom line
Q1 and Q2 of 2022 have shown a 56% increase in European travel destinations, which was an unpredicted number in comparison to 2021. And with the last two quarters ahead of us, one of which is the highest season for travelers, certainly gives experts a base to rely on a further growth of 22% more. Many European countries state that this kind of growth can bring great results in their economy and experts confirm that further increases are also predictable.