Trade Associations

Outlook highlights include:Airline industry net profits are expected to reach $25.7 billion in 2024 ( 2.7% net profit margin). That will be a slight improvement over 2023 which is expected to show a $23.3 billion net profit ( 2.6% net profit margin).In both 2023 and 2024 return on invested capital will lag the cost of capital by 4p.p., as interest rates around the world have risen in response to the sharp inflationary impulse.Airline industry operating profits are expected to reach $49.3 billion in 2024 from $40.7 billion in 2023.Total revenues in 2024 are expected to grow 7.6% year over year...

Geneva - The International Air Transport Association (IATA) announced strengthened profitability projections for airlines in 2023, which will then largely stabilize in 2024. However, net profitability at the global level is expected to be well below the cost of capital in both years. Very significant regional variations in financial performance remain. Outlook highlights include: Airline industry net profits are expected to reach $25.7 billion in 2024 (2.7% net profit margin). That will be a slight improvement over 2023 which is expected to show a $23.3 billion net profit (2.6% net profit margin). In both 2023 and 2024 return on invested...

Translations: Le trafic de fret aérien en hausse de 3,8 % en octobre (pdf) Geneva - The International Air Transport Association (IATA) released data for October 2023 global air cargo markets indicating the third consecutive month of stronger year-on-year demand. Global demand, measured in cargo tonne-kilometres (CTKs*), increased by 3.8% compared to October 2022. For international operations, the demand lagged slightly at 3.5%. Capacity, measured in available cargo tonne-kilometres (ACTKs), was up 13.1% compared to October 2022 (11.1% for international operations). This was largely related to the growth in belly capacity. International belly capacity, for example, rose 30.5% year-on-year on...

“In a complex and uncertain global context, with challenges derived from the post-pandemic era, global geopolitics, and the need to progress towards a sustainable transition, Chile remains an attractive destination for investments. Thanks to its strategic location, solid political frameworks, and commitment to sustainable development, Chile has the ability to turn challenges into opportunities.” Natalia Bayona, Executive Director World Tourism Organization The investment guideline "Tourism Doing Business, Investing in Chile" highlights the main attributes of Chile as a tourist destination and as an attractive place to invest in the sector. The country is characterized by its free market, diversified and resilient...

UNWTO has strengthened its collaboration with the African Civil Aviation Commission (AFCAC) with the aim of improving connectivity and advancing seamless travel throughout the region. The new Memorandum of Understanding signed between UNWTO and AFCAC reflects the importance of boosting cooperation between tourism and aviation in order to create jobs and drive inclusive growth in Africa. This agreement is based around shared initiatives, including the promotion of sustainable tourism and the implementation of the Single African Air Transport Market (SAATM).  UNWTO has actively participated in AFCAC's recent events, particularly the SAATM Pilot Implementation Project aiming to accelerate Africa's interconnectivity by...

Geneva - The International Air Transport Association (IATA) announced that the ongoing recovery in passenger demand continued in October. Total traffic in October 2023 (measured in revenue passenger kilometers or RPKs) rose 31.2% compared to October 2022. Globally, traffic is now at 98.2% of pre-COVID levels. Domestic traffic for October rose 33.7% versus October 2022, driven by the triple-digit percentage growth recorded in China, and was 4.8% above the October 2019 results. International traffic climbed 29.7% compared to the same month a year ago. All markets saw double-digit percentage gains year on year. International RPKs reached 94.4% of October 2019 levels....

Photo source: WTTC The World Travel and Tourism Council (WTTC) said Europe and Africa marked a decline in water usage despite an increase in international arrivals. The data was revealed during the launch of the WTTC’s new “Water Roadmap for Travel & Tourism” report in Dubai and aims to encourage water footprint reduction and resilience building across supply chains through actions that include embracing digital technologies, introducing the Water Management Action Framework, and... Read further. #wttc #worldtraveltourismcouncil

UNWTO has brought together sector leaders at the 2023 United Nations Climate Change Conference (COP28) to showcase the progress made in implementing the Glasgow Declaration for Climate Action on Tourism. In time for the world’s most important climate conference, the Declaration has been officially included in the Global Climate Action Portal of UNFCCC. Climate Action Plans for Tourism   The Glasgow Declaration was launched at COP25 in Glasgow (2021), with signatories committing to achieving Net-Zero by 2050 at the latest. Signatories also commit to delivering dedicated Climate Action plans around the Declarations Five Pathways (Measure, Decarbonize, Regenerate, Collaborate and Finance)....

UNWTO has laid the strong foundations needed for countries everywhere to provide greater legal certainty to all operators in the tourism sector. The first seminar on the International Code for the Protection of Tourists (Salamanca, Spain, 30 November – 1 December 2023) welcomed legal experts, academics and public and private sector representatives, to address the achievements of the Code in the two years since its launch as well as to assess the challenges in the years ahead. A landmark International Code for Tourists The pandemic highlighted the urgent need for a consistent legal framework for assisting tourists. Even during the...