- U.S., U.K, Switzerland, Spain and Netherlands top the list of
most visited destinations
- Cruises, buses and trains see strong spending rebound in 2022
as Covid restrictions loosen
After a turbulent two years, new research from the Mastercard
Economics Institute reveals that global leisure and business flight
bookings1 have surpassed pre-pandemic levels, while spending on
cruise lines, buses and trains saw sharp improvements this year.
Released today, Travel 2022: Trends and Transitions delivers
critical insights across 37 markets about the global state of
travel in a post-vaccine and less restricted chapter of the
pandemic era.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220517006263/en/
Mastercard Economics Institute: Top 10
International Travel Destinations (Photo: Business Wire)
Importantly, according to the Mastercard Economics Institute
analysis, if flight booking trends continue at the current pace, an
estimated 1.5 billion more passengers globally will fly in 2022
compared to last year. Drawing on a unique analysis of publicly
available travel data2, as well as aggregated and anonymized sales
activity in the Mastercard network3, the report dives into key
elements of the traveler journey. Key findings through April 2022
include:
- Leisure and business flights surpass pre-pandemic
levels: Travel recovery has been a largely consumer story for
much of the pandemic. By the end of April, global leisure flight
bookings surpassed 2019 levels by 25%; short- and medium-haul
leisure flight bookings were up 25% and 27%, respectively. Global
business flight bookings exceeded pre-pandemic levels for the first
time in March, with long-haul specifically growing double-digits in
April. The return to office was an important driver.
- Hard-hit transportation industries see spending rebound:
Recent spending levels point to greater comfort with group travel.
Global spending on cruises gained 62 percentage points from January
to the end of April, though remains below 2019 levels. Buses are
back at pre-pandemic levels, while passenger rail spend remains 7%
below. Meanwhile, car road trips maintain their appeal, with
spending on tolls and auto rentals up nearly 19% and 12%,
respectively.
- Travel spending shifts back to experiences4 over things:
For the better part of a year, international tourists spent more on
experiences instead of souvenirs when in destination. Experiential
spending is now 34% above 2019 levels; the areas seeing the largest
spending increases are bars and nightclubs (72%) and amusement
parks, museums, concerts and other recreational activities (35%).
International tourist spending on experiences in destination grew
60% in Singapore and roughly 23% in the U.S. In the U.K., spending
growth each month in 2022 more than doubled compared to 2019
levels, currently 140% for April.
- Loosening of restrictions recalibrates tourism map for
2022: Not surprisingly, the ability and convenience of travel
has been a driving factor in booking destinations, though 2022 has
provided a clean slate with restrictions loosened in much of the
world, aside from parts of Asia-Pacific. The result is that the
U.S., U.K, Switzerland, Spain and The Netherlands are now the top
destinations for tourists globally5.
“Like any flight, the travel recovery has faced both headwinds
and tailwinds. As the ‘Great Rebalancing’ takes place around the
world, this mobility is critical to a return to pre-pandemic life,”
said Bricklin Dwyer, Mastercard chief economist and head of the
Mastercard Economics Institute. “The resilience of the consumer to
return to ‘normal’ and make up for lost time gives us optimism that
the recovery will continue directionally, even if there are bumps
along the way.”
Comprehensive Support to Travelers & Tourism
Sector
Mastercard delivers peace of mind, convenience and value for
consumers and businesses of all sizes as they adjust to the return
of travel. Whether their journey is near or far, consumer,
corporate and T&E cardholders have access to an expanding list
of programs, platforms and partnerships. Mastercard Travel &
Lifestyle Services provides travel planning, offers, booking,
guarantees and 24/7 hands-on concierge support. While in
destination, Priceless.com gives travelers access to
once-in-a-lifetime experiences, benefits and offers like Mastercard
Travel Rewards. And, for small business travelers, Mastercard Easy
Savings offers discounts and purchasing power at digital business
service providers, fine-dining restaurants and international
retailers and hotels.
Mastercard is also dedicated to helping the global tourism
sector recover and welcome travelers through a range of services,
from market analysis and high-frequency data insights that help
make sense of changing consumer trends to marketing solutions and
consumer engagement strategies that drive brand loyalty and
maximize bookings. Most recently, the Tourism Innovation Hub in
Spain was launched to develop tailored products and solutions to
support a sustainable, inclusive return to travel through
innovation, research and
You can view the full Travel 2022: Trends and Transitions report
here. Other reports from the Mastercard Economics Institute can be
found here.
1 Corresponds with the number of flight bookings made during
reference period relative to the same time in 2019. Based on
aggregated & anonymized flight booking data provided by third
party partners, sourced by Mastercard Economics Institute.
2Google Community Mobility Reports, IATA passenger data, and
macroeconomic indicators from various national statistics reporting
agencies.
3 Based on aggregated & anonymized Mastercard switched
volumes (nominal US dollars unadjusted for FX), sourced by
Mastercard Economics Institute.
4“Experiences” includes tourists spending at restaurants,
amusement recreation activities, casinos, nightclubs, bars and
other events, while “Things” includes convenience store chains,
apparel, cosmetics, sporting goods, jewelry, footwear, bookstores,
electronics, toys and department stores. Excludes transportation
and lodging spend. Represents analysis of aggregated &
anonymized aggregated & anonymized Mastercard switched volumes
(nominal US dollars unadjusted for FX) for leisure travelers while
in-destination.
5Analysis based on the number of inbound flight bookings into
destination markets. Based on aggregated & anonymized flight
booking data provided by third party partners sourced by Mastercard
Economics Institute for the reference period between January
1-March 31, 2022.
Disclaimer
This presentation and content are intended solely as a research
tool for informational purposes and not as investment advice or
recommendations for any particular action or investment and should
not be relied upon, in whole or in part, as the basis for
decision-making or investment purposes. This presentation and
content are not guaranteed as to accuracy and are provided on an
"as is" basis to authorized users, who review and use this
information at their own risk. This presentation and content,
including estimated economic forecasts, simulations or scenarios
from the Mastercard Economics Institute, do not in any way reflect
expectations for (or actual) Mastercard operational or financial
performance.
About Mastercard Economics Institute
Founded in 2020, the Mastercard Economics Institute draws on
unique, high-frequency and actionable economic measurement to give
leaders in business and government the insights needed to make
thoughtful decisions with better outcomes.
About Mastercard (NYSE:MA)
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart and accessible. Using secure data and networks,
partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses
realize their greatest potential. Our decency quotient, or DQ,
drives our culture and everything we do inside and outside of our
company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all.
www.mastercard.com.
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Media: Alyssa O'Brien alyssa.o'brien@mastercard.com 914-336-1981
Julia Monti Julia.Monti@mastercard.com 914-217-9533
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