Tag Archives: North America

Cvent ranks Kissimmee among top 25 meeting destinations in North America

 

Experience Kissimmee announced today that it has been named the 24th Top Meeting Destination in North America by Cvent, a leading provider of meetings, events, and hospitality technology. The Cvent Top Meeting Destinations list, which is globally recognised, evaluates and ranks cities based on their success in engaging event planners and attracting group business. The rankings are determined by sourcing activity through the Cvent Supplier Network, one of the world’s largest venue-sourcing platforms.

Situated in the heart of Florida, Kissimmee offers more than 1 million square feet of meeting space and over 30,000 hotel rooms, including a variety of resorts, boutique hotels, and all-suite accommodations. With an additional 300 diverse venues and outdoor areas, ranging from convention hotels to golf courses to a massive vacation home, Kissimmee can host meetings and events of all sizes.

Kissimmee’s proximity to world-famous theme parks, the headwaters of the Everglades, and excellent dining and entertainment options provides exciting event itineraries that enhance meetings. Meeting organisers can save money through the “It Pays to Meet in Kissimmee” incentive, which offers up to USD 10,000 cashback per meeting. Additionally, organisers can support sustainability goals through the Trees4Travel program, which helps offset carbon emissions, and contribute to local communities via the Kissimmee Giving Circle, a partnership with Legacy Collective that donates funds to local non-profit organisations.

“We congratulate Experience Kissimmee for being recognised as a Cvent Top Meeting Destination in North America. This prestigious accolade is a testament to Experience Kissimmee’s commitment to partnering with hoteliers and event planners to create exceptional events,” said Bharet Malhotra, Cvent Senior Vice President, Hospitality Cloud. “Given the significant value that meetings and events bring to local economies, it is more important than ever for convention and visitors bureaus and destination management companies to embrace their role as destination advocates. We are proud to share our Cvent Top Destinations lists and highlight cities like Kissimmee to our global network of event planners who seek incredible places to host their events and strong partners to bring their visions to life.”

International arrivals on track for recovery above 2% of 2019 levels in 2024: UN

In 2023 international tourist arrivals recovered 89% of 2019 levels and export revenues from tourism 96%, while direct tourism GDP reached the same levels as in 2019.

UN Tourism’s projection for 2024 points to a full recovery of international tourism with arrivals growing 2% above 2019 levels. In line with this, the newest data released by the UN specialized agency for tourism show that:

International tourism is experiencing a rapid recovery in Asia and the Pacific where arrivals reached 82% of pre-pandemic levels in Q1 2024, after recovering 65% in the year 2023.

UN Tourism Secretary-General Zurab Pololikashvili said, “The recovery of the sector is very welcome news for our economies and the livelihoods of millions. Yet it also recalls the need to ensure adequate tourism policies and destination management, aiming to advance sustainability and inclusion, while addressing the externalities and impact of the sector on resources and communities”.

By subregions, North Africa saw the strongest performance in Q1 2024 with 23% more international arrivals than before the pandemic, followed by Central America (+15%), the Caribbean and Western Europe (both +7%). Southern Mediterranean Europe exceeded pre-pandemic levels by 1%, while South America virtually reached 2019 levels. Northern Europe recovered 98% of pre-pandemic levels, while Subsaharan Africa and North America both recovered 95%.

According to available data, many destinations across the world continued to achieve strong results in Q1 2024, including Qatar (+177% versus Q1 2019), Albania (+121%), Saudi Arabia (+98%), El Salvador (+90%), Tanzania (+53%), Curaçao (+45%), Serbia (+43%), Turks and Caicos (+42%), Guatemala (+41%) and Bulgaria (+38%).

The robust performance of international tourism can also be seen in the UN Tourism Confidence Index which reached 130 points (on a scale of 0 to 200) for the period January-April, above the expectations (122) expressed for this period in mid-January.
Receipts

International tourism receipts reached USD 1.5 trillion in 2023, meaning a complete recovery of pre-pandemic levels in nominal terms, but 97% in real terms, adjusting for inflation.

By regions, Europe generated the highest receipts in 2023, with destinations earning USD 660 billion, exceeding pre-pandemic levels by 7% in real terms. Receipts in the Middle East climbed 33% above 2019 levels. The Americas recovered 96% of its pre-pandemic earnings in 2023 and Africa 95%. Asia and the Pacific earned 78% of its pre-crisis receipts, a remarkable result when compared to its 65% recovery in arrivals last year.

Total export revenues from international tourism, including both receipts and passenger transport, reached USD 1.7 trillion in 2023, about 96% of pre-pandemic levels in real terms. Tourism direct GDP recovered pre-pandemic levels, reaching an estimated USD 3.3 trillion in 2023, equivalent to 3% of global GDP.

Several destinations achieved remarkable results in terms of receipts in the first quarter of 2024 as compared to 2019 levels based on available data, including Serbia (+127%), Türkiye (+82%), Pakistan (+72%), Tanzania (+62%), Portugal (+61%), Romania (+57%), Japan (+53%), Mongolia (+50%), Mauritius (+46%) and Morocco (+44%).

Full recovery globally in 2024
International tourism is expected to recover completely in 2024 backed by strong demand, enhanced air connectivity and the continued recovery of China and other major Asian markets.

The latest UN Tourism Confidence Index shows positive prospects for the upcoming summer season, with a score of 130 for the period May-August 2024 (on a scale of 0 to 200), reflecting more upbeat sentiment than earlier this year. Some 62% of tourism experts participating in the Confidence survey expressed better (53%) or much better (9%) expectations for this 4-month period, covering the Northern Hemisphere summer season, while 31% foresee similar performance as in 2023.

Challenges 

According to the UN Tourism Panel of Experts, economic and geopolitical headwinds continue to pose significant challenges to international tourism and confidence levels.

IMF’s latest World Economic Outlook (April 2024) points to a steady but slow economic recovery, though mixed by region. At the same time, persisting inflation, high interest rates, volatile oil prices and disruptions to trade continue to translate into high transport and accommodations costs.

Tourists are expected to continue to seek value for money and travel closer to home in response to elevated prices and the overall economic challenges, while extreme temperatures and other weather events could impact the destination choice of many travellers. This is increasingly mentioned by the UN Tourism Panel of Experts as a concern for the sector.

Uncertainty derived from the Russian aggression against Ukraine, the Hamas-Israel conflict and other mounting geopolitical tensions, are also important downside risks for international tourism.

As international tourism continues to recover and expand, fuelling economic growth and employment around the world, governments will need to continue adapting and enhancing their management of tourism at the national and local level to ensure communities and residents are at the centre of this development.

India has incredibly affordable airfares: Vinay Dube

India has “incredibly affordable” airfares and the country’s aviation market has the kind of growth potential where Akasa Air as well as other carriers can do well, according to the nearly two-year-old airline’s Chief Vinay Dube.
As Akasa Air prepares to take the international skies on March 28 with the first overseas flight from Mumbai to Doha, Dube also asserted that the airline is not about “marketing gimmicks”. Akasa Air is aiming to be among the world’s top 30 airlines by 2030 and will go public in future.

“We think we have a great financial future. Listing is in our future… but you never say never. We hope to list some day,” he told PTI in an interview this week.

While acknowledging that aviation competition has always been intense, he said that as long as the focus is on fundamentals, there is enough room not just for Akasa Air to thrive in the future but for others as well.
“Thanks to the growth that we are going to see in India, it is not that Akasa will do well only if someone else does badly, no, Akasa can do well and others can do well, that is the kind of growth that India has to offer,” the airline’s Founder and CEO said.

The carrier, which started flying in August 2022, has a fleet of 24 planes and a domestic market share of 4.5 per cent.

To a query about air ticket prices, Dube said the country has some of the cheapest airfares.

India, which is one of the world’s fastest-growing civil aviation markets, is also seen in some quarters as price sensitive, especially with rising number of air travellers, including first-time fliers. There have been concerns, mainly during festival seasons, that air ticket prices are high.

“I see fares to be some of the cheapest in the world as I saw them three months ago, six months ago… I think Indian airfares when you compare them to parts of Europe, East Asia, North America, you compare to any decent-sized aviation economy in the world, India has some of the most affordable airfares by a long margin, not just by Rs 10 or 100… Indian airfares are incredibly affordable,” Dube said.

T&T sector deal activity down by 22.5% YoY during Jan-Feb 2024: GlobalData

The travel and tourism sector witnessed the announcement of 93 deals* globally during the first two months of 2024, an year-on-year (YoY) decline of 22.5% compared to the announcement of 120 deals during the same period in 2023, reveals GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Deals Database reveals that the number of mergers and acquisitions (M&A) and venture financing deals declined while private equity deals volume showcased improvement during the period.

The number of M&A deals declined by 25.8%, whereas venture financing deals volume registered a YoY decline of 22.2%. Meanwhile, private equity deals volume increased from four during January-February 2023 to six during January-February 2024.

Aurojyoti Bose, Lead Business Fundamentals Analyst at GlobalData, comments: “The dent in deal-making sentiment across sectors and geographies amid the volatile market conditions has taken a toll on deal activity in the travel and tourism sector as well. As a result, the sector saw the announcement of less than 100 deals during the first two months of 2024.”

Most of the regions and key markets also registered a decline in deals volume during January-February 2024 compared to the same period during the previous year.

For instance, North America, Europe, Middle East and Africa and South and Central American region experienced decline in deals volume while Asia-Pacific region showcased marginal improvement.

Meanwhile, key markets such as the US, the UK and France registered decline in deals volume during January-February 2024 compared to the same period during the previous year, whereas India, South Korea, Australia witnessed some improvement.

Bose concludes: “Despite this downturn, areas of resilience and opportunity exist, particularly in regions like Asia-Pacific. As markets evolve, identifying pockets of growth and innovation becomes paramount for industry stakeholders.”

Changi Airport hits 86% passenger recovery due to a Q4 tourism surge

While aircraft movements remained slightly below pre-pandemic levels, airfreight throughput experienced a modest year-on-year decline.

December 2023 marked a peak, with the highest passenger movement and aircraft movement figures of the year, indicating a rebound in travel demand.

North America led the pack in traffic recovery in 2023, exceeding 2019 levels by over 25%, driven by domestic and international demand.

Southeast Asia regains its familiar dominance, while China, Japan, and South Korea ignite the skies with their rapid ascent.

Lim Ching Kiat, Changi Airport Group’s Executive Vice President for Air Hub expressed confidence in the airport’s full recovery to pre-pandemic connectivity and traffic levels by 2024.

The airport signed a partnership with TUI Airways and Marella Cruises to bring fly-cruise passengers from the United Kingdom to Singapore, further diversifying its passenger offerings.

As of January 2024, the airport has a network of 93 airlines offering over 6,700 weekly scheduled flights, connecting Singapore to 154 cities in 49 countries and territories, reflecting a significant improvement compared to pre-pandemic levels.

India Emerges as 5th among top passenger markets for Singapore’s Changi Airport

In 2023, Singapore’s Changi Airport, which managed 328,000 flights and accommodated 58.9 million passengers, witnessed a significant rebound, reaching 83% of pre-Covid-19 traffic levels. Official data reveals that India secured the fifth position among the top five largest passenger markets for the airport. Indonesia claimed the leading position, followed by Malaysia, Australia, Thailand, and India, based on the latest figures released by the Changi Airport Group (CAG). Notably, India had held the sixth position as a travel traffic generator for Changi Airport in 2019, before the pandemic. Prior to the pandemic’s impact in 2019, the airport had recorded 68.3 million passenger movements. The 2023 passenger traffic at Changi Airport marked an 83% increase compared to the 32.2 million passengers handled in 2022.

About 328,000 flights took off from or landed at Changi Airport in 2023, the data stated, as against 382,000 flights it handled in 2019. Between October and December 2023, the airport recorded 16.1 million passenger movements, surpassing 90 per cent of pre-pandemic levels. December was the busiest month of the year, with 5.8 million passengers moving through the airport. This was 91 per cent of traffic levels in December 2019. The airport recorded its busiest day of the year on Dec 22, the Friday before Christmas, with 203,000 passengers passing through its terminals. In December, 30,400 flights landed at or departed from the airport. Quoting CAG, The Straits Times newspaper reported that all the regions to which the airport is connected are recording healthy recovery in passenger traffic from pre-pandemic levels. North America was the region that recorded the greatest growth of more than 25 per cent, compared to 2019.