Tourism Watch Quarterly Report: Q1 2024
Tourism nears a full recovery
- Global Overview: In the first quarter of 2024, tourism arrivals grew 20 percent compared to 2023, boosted by improvements in air connectivity, visa facilitation, and decreasing airfares as well as a continuing post-pandemic recovery. Tourism contributed an estimated 3 percent to global GDP in 2023, reaching pre-pandemic levels for the first time. Travel prospects remain promising, with a full recovery expected this year despite macroeconomic, geopolitical, and climate-related headwinds.
- Regional Overview: The East Asia Pacific region continues to drive global growth as it catches up from a slow pandemic recovery. All regions have experienced double-digit year-on-year growth in estimated aviation passenger arrivals other than Africa East, which registered a 7 percent y/y increase. This includes The Middle East and North Africa, where overall growth remains strong amidst an ongoing conflict.
- Special Policy Insert: Applying a Circular Economy (CE) approach to the tourism sector can help mitigate tourism’s environmental impacts, such as increased waste, and shortages of water and power. This insert showcases tools and examples for incorporating CE into the tourism sector, including into World Bank projects.
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First Quarter 2024