Amadeus, the world’s leading global distribution service business, has forecast a decade of tourism growth in its recently commissioned industry study created by Oxford Economics.
The study finds that travel will grow by 5.4 per cent over the next ten years and will be mainly driven by higher outbound tourism from China to other countries.
The research also finds that growth of outbound tourism from China could increase by 20 per cent to 2023 and that the number of Chinese households able to afford overseas travel will double in the next decade.
In addition, Amadeus’ study finds that other growing markets will average 5 per cent growth over the next decade including Russia, Turkey, Indonesia and Brazil.
The other findings of the report include that Western short haul traveller rates will not reach pre-global recession rates until 2018 and air growth will be led by India and Russia.
“Forecasts predict a new golden era for travel, which will be welcome news for many segments of the industry that are only just beginning to emerge from recession,” Amadeus senior vice president Holger Taubman said.