5 things to know about the tours, activities and attractions sector – #Phocuswright research

Full report here: https://www.phocuswright.com/Travel-Research/Destination-Activities-Marketing/The-Outlook-for-Travel-Experiences-2019-to-2025

The in-destination industry, which comprises day tours, activities, attractions and related leisure experiences, has long been one of the largest and most important sectors in travel and tourism. According to Phocuswright’s latest joint travel research report with Arival, The Outlook for Travel Experiences 2019-2025, travel experiences represented $253 billion in global gross ticket revenue in 2019, making it the third-largest sector of tourism after transportation and accommodation. The sector grew 6% in 2019, significantly higher than the 3.5% increase in global tourism GDP.

Despite the heavy toll of the pandemic on operators worldwide, the tours, activities and attractions (TAA) sector has remained resilient and has shown strong signs of recovery in 2022. Fears of widespread business collapses have been allayed by governmental support across much of North America and Europe. The sector will reach 93% of 2019’s global gross bookings by 2023 and surpass 2019 levels in 2024 when global gross bookings will reach $260 billion, assuming there are no further pandemic-related waves or other outside circumstances that substantially disrupt global travel.