70
By Cary Springfield, International Banker
Among the most severely damaged industries during the coronavirus pandemic, global travel has staged a remarkable rebound, especially over the last year. According to projections delivered in November by the World Travel & tourism Council (WTTC), the travel and tourism industry was touted to have generated $10 trillion in 2023, with almost half of the 185 countries in which it conducts research expected to have either fully recovered to pre-pandemic levels by the end of 2023 or at least reached 95 percent of full recovery. And with recent figures suggesting that activity will only grow in 2024, global travel is set to thrive once again.
Indeed, November reports revealed that the WTTC’s president and chief executive officer, Julia Simpson, had confirmed higher-than-expected growth rates for travel and tourism observed for Europe, Africa and Western Asia, while China had exceeded estimates as it worked to reopen its travel…