Global tourism is on the way to pre-pandemic levels but faces a new threat – strong inflation. The World Tourism Organization under the United Nations (WTO or UNWTO) reported this in its statement.
For example, in the first quarter of this year, the number of people traveling around the world doubled compared to the same period last year, with international travel reaching 80% of pre-pandemic levels between January and March. However, according to the assessment made in the report, high inflation, rising transport, and hotel costs are the main threats to the effective recovery of international tourism.
Inflation leads to an increase in transport and accommodation prices, which will affect the cost of travel. This problem is particularly significant for tourist destinations with high costs, such as distant countries.
Based on the assessment, experts predict that travelers will focus on more affordable vacation options, such as short-haul destinations and low-budget tours.
In addition, the report emphasized that there are uncertainties and risks related to the war in Ukraine and other geopolitical reasons. These factors may also hurt international tourism, causing a decrease in travel demand in some regions.