1、TRAVELMARKETREPORTNovember 20232024 Outlook2024 OutlookProduced by Research&IntelligenceREPORTMike EggletonDirector,Research&IntelligenceNatalia TretyakevichSenior Manager,Research&IntelligenceMelina SibajaTravel Insights AnalystThe Research&Intelligence teamTravel Market Report 2024 Outlook Welcome

2、 to the fourth edition of the Travel Market Report,brought to you by BCD Travels Research&Intelligence team.This quarters Travel Market Report is dedicated to presenting an outlook for 2024.It includes the following content:A review of the prospects for the world economy in 2024,including some of th

3、e risks and headwinds it may faceA focus on some of the key risks travel managers and travelers may have to deal with next yearA look at the current state of air travel,its outlook(including an update on airline distribution)and our global airfare forecasts for 2024The outlook for hotel room rates i

4、n 2024,starting with a global overview and followed by the numbers for key markets in Africa and the Middle East,Asia Pacific,Europe,Latin America and North AmericaOur perspective on ground transportation,largely relating to car rentalWith travels recovery underpinned by an imperative to do so in a

5、sustainable manner,we finish the report with eight sustainable travel trends to look out for in 2024.Growth in 2023 so far has exceeded expectations,despite persistent high inflation and monetary policy responses.This is particularly true among the advanced economies in Europe and North America.But

6、what we have most likely seen is a delay to,rather than an outright change in the outlook.The transmission into the wider economy of the subduing effects of policy tightening has simply taken longer than economists had expected.Inflation remains stubbornly high in major markets,but headline inflatio