Outbound Tourism Spending Habits and Trend Analysis of the Top 10 Expenditure Markets, 2022 Update

Outbound Tourism Spending Habits and Trend Analysis of the Top 10 Expenditure Markets, 2022 Update

Summary

GlobalData’s Expenditure Markets in Focus report provides in-depth analysis of the top 10 spending outbound markets globally. Here, detailed commentary and analysis is provided for outbound spending in the US, Germany, France, the UK, the Netherlands, Russia, Belgium, Italy, Switzerland, and Austria.

Key Highlights

• Despite the travel restrictions and lockdowns in 2021, outbound travel grew worldwide, with the second half of the year witnessing strong growth in international travel. Regional trends varied, the Americas and Europe saw healthy growth, and Asia registered further decline. Overall, global tourism performed better in 2021, and the post-COVID recovery has begun.
• In 2021, the US maintained its top position in terms of outbound spending. With 144.7 million international departures, the US was also the country with the most outbound trips in 2021. China, which pre-COVID had the highest number of outbound trips and be the second highest level of spending, dropped down the list and lost its place in the top 10.
• Out of the top ten expenditure markets in 2021, only five are expected to remain in the list by 2025. Switzerland, Russia, Belgium, Italy, and Austria, which were not traditionally in the list, will move down the top 10 list, and China, Australia, Canada, Japan, and Singapore will regain their spot in the top 10. While the US maintains its top spot in expenditure list, China will regain its top spot in top 10 outbound trips list.

• The report provides detailed market analysis, information and insights for the top 10 outbound spending markets globally. Historic and forecast tourist volumes covering the top 10 global outbound tourism markets are combined with a detailed analysis of tourist spending patterns in these markets. Actionable insight on key trends and issues in these markets is then given.

• Understand how the top 10 markets are expected to grow using historic and forecast market data
• Understand the demand-side dynamics within the industry to identify key market trends, growth opportunities
• Direct promotional efforts on the most promising markets by identifying the high spending source markets.