There’s good news for the travel and tourism industry worldwide, as a new Mastercard study finds that consumers and business travelers alike expect to increase their travel in the next few years. LEISURE AND BUSINESS TRAVEL BOOST Between 2022 and 2025, consumers expect the number of annual trips they take to increase by 16%, while business travelers anticipate a 29% rise. Travel demand is being boosted by many factors, including pent-up demand, topped-up savings, flexible work arrangements and a widespread reordering of priorities. Many are also looking for reprieve: 71% of consumers told Mastercard that they’re desperate for a Read more
business travel
Air Canada has opened its brand-new Maple Leaf Lounge at San Francisco International Airport (SFO), the airline’s 28th lounge worldwide, and its third in the U.S. The modern and exclusive respite, located in Terminal 2, features Air Canada’s first outdoor lounge terrace, together with a range of premium amenities, food and beverages, making the travel experience for eligible customers even more comfortable and convenient before their flights to Canada and beyond. “We’re thrilled to bring our Maple Leaf Lounge experience to San Francisco International Airport, giving our Bay Area customers a way to enjoy Air Canada’s award-winning product and glowing-hearted Read more
The good news is that the new Air Canada lounge at the Toronto Island Airport is a beauty. The really good news is that Canada’s largest airlines plans “top to bottom” changes to some of its other lounges, including domestic lounges at Toronto Pearson, Montreal Trudeau and Vancouver International. Minutes after the doors opened to the newest Air Canada lounge, and the only one at YTZ/Billy Bishop Airport, airline officials were talking about major improvements to existing lounges at a variety of airports. “Over the next five years you can expect us to go into all of our largest club Read more
A new report from the World Travel & Tourism Council predicts the Canadian tourism and travel industry is poised for a major rebound and is close to recovering to 2019 levels. The council’s 2023 Economic Impact Research (EIR) reveals the Canadian Travel & Tourism sector continues to show strong signs of post-pandemic recovery. According to the latest report, the sector is set to contribute $162.6 billion to the Canadian economy this year, up 17.2% from last year and within touching distance of the previous peak of $173.9 billion in 2019. WTTC is also forecasting that Travel & Tourism will create Read more
Flight bookings are taking off in Canada and around the world. A study from the Mastercard Economics Institute found that flight bookings around the world show an impressive 33% year-over-year growth. It also found that leisure flight bookings in Canada were up 45.1% in the first quarter of 2023 compared to the same period last year. New insights from Mastercard reveal that consumers are prioritizing leisure travel and pioneering new corridors around the world. Released today, Travel Industry Trends 2023 delivers key insights about the global state of travel, punctuated by shifting economic landscapes, persistent consumer demands, and a reopening of mainland Read more
