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For the first time since the pandemic, flight bookings have exceeded 2019 levels, while spending on cruise lines, buses and trains saw sharp improvements in 2022, according to a new report from Mastercard Economics Institute.
| 16 Jun 2022
For the first time since the pandemic, flight bookings have exceeded 2019 levels, while spending on cruise lines, buses and trains saw sharp improvements in 2022, according to a new report from Mastercard Economics Institute.
Titled Travel 2022: Trends and Transitions, the report says that if flight booking trends continue at their current pace, an estimated 1.5 billion more passengers globally will fly in 2022 compared to last year.
According to the report, the US, UK and Spain were the top international travel destinations based on flight bookings, as longer-distance travel returned.
The report also shows a sharp rise in spending on the Experience Economy, which has increased roughly 34% above 2019 levels.
“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.”
Click here to read the full report
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