Demand for luxury tourism and hospitality is expected to grow faster than for any other industry segment. This growth is being powered in part by a sharp rise in the number of individuals globally with net worths between $1 million and $30 million. But it’s also resulting from a large…

After falling by 75 percent in 2020, travel is on its way to a full recovery by the end of 2024. Domestic travel is expected to grow 3 percent annually and reach 19 billion lodging nights per year by 2030. Over the same time frame, international travel should likewise ramp…

As destinations and source markets have changed, tourism and hospitality companies have evolved too. Six key trends have shaped business models in this sector over the past decade. In accommodation, asset-light models like franchising and management have proliferated, though luxury and small-scale brands are opting out. Consolidation has driven economies…

Tourism can help build a more connected, more vibrant world. But as tourism grows rapidly, the most visited destinations are experiencing more concentrated flows (Exhibit 1). Recent satellite data suggests that 80 percent of travelers visit just 10 percent of the world’s tourist destinations. The number of travelers and the…

What sorts of journeys do today’s travelers dream about? Where would they like to go? What do they hope to do when they get there? How much are they willing to spend on it all? And what should industry stakeholders do to adapt to the traveler psychology of the moment?…