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
Mastercard
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
