Latest news with #KhatijaHaque
Tahya Masr
15-05-2025
- Business
- Tahya Masr
Wellness, nature and food drive 2025 travel trends in EEMEA, according to Mastercard Economics Institute
The Mastercard Economics Institute (MEI) today released Travel Trends 2025, its annual report with unique and proprietary consumer spending insights globally. While exchange rates and geopolitical dynamics can influence consumer behavior, the report highlights that passions and purpose-driven motivations remain strong drivers shaping the travel industry. Whether drawn by Namibia's wellness retreats, Istanbul's dynamic culinary scene, or Saudi Arabia's emerging leisure hubs, travelers are expanding their horizons beyond traditional hotspots. The globalization of sports has also turned big events into global spending hubs, drawing fans across continents. 'Tourism remains an important driver for growth and diversification in the EEMEA region, and it's great to see that the natural beauty, culinary variety and special experiences across Africa, the Middle East and Eastern Europe, are held in such high regard by travelers. And while economic and geopolitical drivers do impact the decision of where to go, the desire for meaningful experiences still drives a big part of our travel decisions. The tourism landscape in the EEMEA region is evolving, with emerging destinations attracting investment and powering spending. The Mastercard Economic Institute's report offers interesting insights on how countries are capturing the attention of eager travelers looking for something more than just a change of scene,' said Khatija Haque, chief economist EEMEA, Mastercard Economics Institute . Drawing on a unique analysis of aggregated and anonymized transaction data and third-party data sources, the report uncovers what is shaping travel choices today. Key findings for EEMEA region include: Eastern Europe, Middle East and Africa (EEMEA) trends: • Nature-fueled adventures: MEI analyzed major national parks on how commerce in the area is contributing to overall tourist expenditures. Established wilderness giants such as South Africa and Zambia show the highest national park spending as a share of total cross-border, 23.3% and 15.5% in 2024, respectively[2]. • Culinary crossroads: Istanbul tops the list of globalized foodie cities with its median restaurant hosting tourists from 67 different countries in 2024. Doha, Dubai, Marrakech and Cape Town are also on the list with diverse culinary experiences alongside their rich cultural attractions. • Wellness in the wild: Africa is establishing itself as a global leader in wellness-centered travel as consumers prioritize rejuvenation and self-care. The Wellness Travel Index (WTI)[3], developed by MEI to highlight destinations leading the way for wellness experiences and self-care , has Namibia, South Africa, and Botswana among the top destinations for travelers seeking spa-style and nature-based retreats and immersive eco lodges. The rising WTI score for Kenya suggests a growing effort in the destination to meet this popular demand. • Top regional hotspots: Recent reforms made it easier to travel to Saudi Arabia which spurred a rise in passenger traffic to Jeddah and Riyadh. The government's economic diversification efforts have also attracted newcomers: Investment in massive projects has created jobs and boosted business travel, while the development of tourism and leisure infrastructure is turning the kingdom into an emerging leisure destination. • Wheeling and dealing closer to home: In general, business travellers favour trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Eastern Europe, the Middle East and Africa (EEMEA) at the expense of trips within their region , Other global trends: Sports fandom fuels travel. MEI examined spending within five miles of the venue for the Champions League Final in London. Real Madrid's victory over Borussia Dortmund led to a 61% YOY increase in German spending, outpacing the overall increase of 14%, whereas Spanish spending spiked by 148% YOY, suggesting fans celebrated by splurging. • Currency changes can impact travel, but it varies regionally. In 2024, currency depreciation drove visitors in search of value to Japan, where a 1% JPY depreciation against the RMB led to a 1.5% increase in Chinese Mainland tourists. However, visitors from New Zealand and the U.S. rose only around 0.2% in response to the same degree of depreciation relative to their currencies. Mastercard is dedicated to helping the global tourism sector grow through market analysis and high-frequency, data-driven insights that enhance the travel experience. By empowering destinations and businesses to better understand evolving consumer trends, Mastercard is helping to shape a more connected and resilient future for travel across Eastern Europe, the Middle East, and Africa. You can view the full 'Travel Trends 2025: Purpose-driven journeys' and other reports and insights from MEI, here .
Arabian Business
13-05-2025
- Business
- Arabian Business
2025 travel trends: Nature, food and wellness drive holiday spending says Mastercard
Nature, food and wellness breaks are driving holiday spending, according to the Mastercard Economics Institute's (MEI) annual Travel Trends 2025 report. While exchange rates and geopolitical dynamics can influence consumer behaviour, the report highlights that passions and purpose-driven motivations remain strong drivers shaping the travel industry. Whether drawn by Namibia's wellness retreats, Istanbul's dynamic culinary scene, or Saudi Arabia's emerging leisure hubs, travellers are expanding their horizons beyond traditional hotspots, said Mastercard. Travel trends 2025 The globalisation of sports has also turned big events into global spending hubs, drawing fans across continents. Khatija Haque, chief economist EEMEA, Mastercard Economics Institute, said: 'Tourism remains an important driver for growth and diversification in the EEMEA region, and it's great to see that the natural beauty, culinary variety and special experiences across Africa, the Middle East and Eastern Europe, are held in such high regard by travellers. 'While economic and geopolitical drivers do impact the decision of where to go, the desire for meaningful experiences still drives a big part of our travel decisions. 'The tourism landscape in the EEMEA region is evolving, with emerging destinations attracting investment and powering spending'. Key findings for Eastern Europe, Middle East and Africa (EEMEA) include: Nature-fuelled adventures: MEI analysed major national parks on how commerce in the area is contributing to overall tourist expenditures. Established wilderness giants such as South Africa and Zambia show the highest national park spending as a share of total cross-border, 23.3 per cent and 15.5 per cent in 2024, respectively Culinary crossroads: Istanbul tops the list of globalised foodie cities with its median restaurant hosting tourists from 67 different countries in 2024. Doha, Dubai, Marrakech and Cape Town are also on the list with diverse culinary experiences alongside their rich cultural attractions Wellness in the wild: Africa is establishing itself as a global leader in wellness-centred travel as consumers prioritise rejuvenation and self-care. The Wellness Travel Index, developed by MEI to highlight destinations leading the way for wellness experiences and self-care, has Namibia, South Africa, and Botswana among the top destinations for travellers seeking spa-style and nature-based retreats and immersive eco lodges. The rising WTI score for Kenya suggests a growing effort in the destination to meet this popular demand Top regional hotspots: Recent reforms made it easier to travel to Saudi Arabia which spurred a rise in passenger traffic to Jeddah and Riyadh. The government's economic diversification efforts have also attracted newcomers Investment in massive projects has created jobs and boosted business travel, while the development of tourism and leisure infrastructure is turning the kingdom into an emerging leisure destination Wheeling and dealing closer to home: In general, business travellers favour trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Eastern Europe, the Middle East and Africa (EEMEA) at the expense of trips within their region Global travel trends identified my Mastercard, include Sports fandom fuels travel. MEI examined spending within five miles of the venue for the Champions League Final in London. Real Madrid's victory over Borussia Dortmund led to a 61 per cent YOY increase in German spending, outpacing the overall increase of 14 per cent, whereas Spanish spending spiked by 148 per cent YOY, suggesting fans celebrated by splurging Currency changes can impact travel, but it varies regionally. In 2024, currency depreciation drove visitors in search of value to Japan, where a 1 per cent JPY depreciation against the RMB led to a 1.5 per cent increase in Chinese Mainland tourists. However, visitors from New Zealand and the US rose only around 0.2 per cent in response to the same degree of depreciation relative to their currencies
Egypt Today
13-05-2025
- Business
- Egypt Today
Hurghada, Sharm El-Sheikh named top picks for global travelers in 2025
CAIRO - 13 May 2025: Hurghada and Sharm El-Sheikh have landed among the top 15 trending global summer destinations, according to Mastercard Economics Institute's (MEI) newly released Travel Trends 2025 report. The study spotlights key regional shifts in travel behavior, with wellness, nature, and food-driven tourism leading demand across the Eastern Europe, Middle East, and Africa (EEMEA) region. The report analyzes consumer spending and mobility data to reveal how post-pandemic travelers are seeking more meaningful, experience-based journeys—ranging from eco-retreats and culinary adventures to sports tourism and regional business hubs. Egypt, already known for its heritage and coastal charm, is now seeing renewed momentum from travelers drawn to unique, purpose-led experiences. Highlights from the EEMEA region include: • Hurghada and Sharm El-Sheikh have emerged as global travel favorites for summer 2025, affirming Egypt's role as a leading leisure destination. • Nature and wellness are reshaping regional tourism dynamics, with African destinations like Namibia and South Africa leading the Wellness Travel Index. Egypt's Red Sea resorts stand to benefit from this trend, especially among European and Gulf travelers. • Culinary hotspots are capturing global interest. While Istanbul topped MEI's list of 'globalized foodie cities,' Egypt's own evolving food scene offers growth potential in the region's gastronomic tourism boom. • Intra-regional travel is gaining traction, particularly in the Gulf. Saudi Arabia's rise as a leisure hub reflects broader interest in accessible regional escapes—a trend Egypt could capitalize on through tourism collaboration and connectivity. • Business travel patterns are shifting, with companies focusing on destinations within the EEMEA region. Egypt's improving infrastructure and strategic location position it well to attract more regional business events. 'The report shows that while currency movements and global events matter, people are still prioritizing enriching and memorable experiences,' said Khatija Haque, Chief Economist for EEMEA at Mastercard Economics Institute. As Egypt pushes forward with its tourism diversification strategy and sustainable investment in hospitality and green travel, the country is poised to remain a regional travel leader in the years to come.
Trade Arabia
13-05-2025
- Business
- Trade Arabia
Wellness, nature, food drive 2025 travel trends in EEMEA: MEI
The Mastercard Economics Institute (MEI) has released Travel Trends 2025, providing global consumer spending insights. The report highlights that passions and purpose-driven motivations remain key drivers in the travel industry. Travellers are exploring wellness retreats, culinary scene in Istanbul, and leisure hubs in Saudi Arabia. The globalisation of sports has also transformed sports events into global spending hubs. 'Tourism remains an important driver for growth and diversification in the EEMEA region, and it's great to see that the natural beauty, culinary variety and special experiences across Africa, the Middle East and Eastern Europe, are held in such high regard by travellers. And while economic and geopolitical drivers do impact the decision of where to go, the desire for meaningful experiences still drives a big part of our travel decisions. The tourism landscape in the EEMEA region is evolving, with emerging destinations attracting investment and powering spending. The Mastercard Economic Institute's report offers interesting insights on how countries are capturing the attention of eager travellers looking for something more than just a change of scene,' said Khatija Haque, chief economist EEMEA, Mastercard Economics Institute. KEY FINDINGS FOR EEMEA REGION INCLUDE: Nature-fueled adventures: MEI analysed major national parks on how commerce in the area is contributing to overall tourist expenditures. Established wilderness giants such as South Africa and Zambia show the highest national park spending as a share of total cross-border, 23.3% and 15.5% in 2024, respectively. Culinary crossroads: Istanbul tops the list of globalised foodie cities with its median restaurant hosting tourists from 67 different countries in 2024. Doha, Dubai, Marrakech and Cape Town are also on the list with diverse culinary experiences alongside their rich cultural attractions. Wellness in the wild: Africa is establishing itself as a global leader in wellness-centered travel as consumers prioritise rejuvenation and self-care. The Wellness Travel Index (WTI), developed by MEI to highlight destinations leading the way for wellness experiences and self-care , has Namibia, South Africa, and Botswana among the top destinations for travellers seeking spa-style and nature-based retreats and immersive eco lodges. The rising WTI score for Kenya suggests a growing effort in the destination to meet this popular demand. Top regional hotspots: Recent reforms made it easier to travel to Saudi Arabia which spurred a rise in passenger traffic to Jeddah and Riyadh. The government's economic diversification efforts have also attracted newcomers: Investment in massive projects has created jobs and boosted business travel, while the development of tourism and leisure infrastructure is turning the kingdom into an emerging leisure destination. Wheeling and dealing closer to home: In general, business travellers favour trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Eastern Europe, the Middle East and Africa (EEMEA) at the expense of trips within their region. OTHER GLOBAL TRENDS: Sports fandom fuels travel: MEI examined spending within five miles of the venue for the Champions League Final in London. Real Madrid's victory over Borussia Dortmund led to a 61% YOY increase in German spending, outpacing the overall increase of 14%, whereas Spanish spending spiked by 148% YOY, suggesting fans celebrated by splurging.
Mid East Info
13-05-2025
- Business
- Mid East Info
Wellness, nature and food drive 2025 travel trends in EEMEA, according to Mastercard Economics Institute - Middle East Business News and Information
Hurghada and Sharm El-Sheikh in top 15 trending destinations for global travelers this summer [1] Jeddah and Riyadh have seen a rise in passenger traffic in 2024 compared to 2019 Istanbul tops the list of globalized foodie cities, which also features Doha, Dubai, Marrakech and Cape Town South Africa and Zambia dominate cross-border spending within national park areas, Namibia leads wellness travel, and Kenya is a fast-growing contender Dubai, UAE; May 2025: The Mastercard Economics Institute (MEI) today released Travel Trends 2025, its annual report with unique and proprietary consumer spending insights globally. While exchange rates and geopolitical dynamics can influence consumer behavior, the report highlights that passions and purpose-driven motivations remain strong drivers shaping the travel industry. Whether drawn by Namibia's wellness retreats, Istanbul's dynamic culinary scene, or Saudi Arabia's emerging leisure hubs, travelers are expanding their horizons beyond traditional hotspots. The globalization of sports has also turned big events into global spending hubs, drawing fans across continents. 'Tourism remains an important driver for growth and diversification in the EEMEA region, and it's great to see that the natural beauty, culinary variety and special experiences across Africa, the Middle East and Eastern Europe, are held in such high regard by travelers. And while economic and geopolitical drivers do impact the decision of where to go, the desire for meaningful experiences still drives a big part of our travel decisions. The tourism landscape in the EEMEA region is evolving, with emerging destinations attracting investment and powering spending. The Mastercard Economic Institute's report offers interesting insights on how countries are capturing the attention of eager travelers looking for something more than just a change of scene,' said Khatija Haque, chief economist EEMEA, Mastercard Economics Institute . Drawing on a unique analysis of aggregated and anonymized transaction data and third-party data sources, the report uncovers what is shaping travel choices today. Key findings for EEMEA region include: Eastern Europe, Middle East and Africa (EEMEA) trends: Nature-fueled adventures: MEI analyzed major national parks on how commerce in the area is contributing to overall tourist expenditures. Established wilderness giants such as South Africa and Zambia show the highest national park spending as a share of total cross-border, 23.3% and 15.5% in 2024, respectively [2] . . Culinary crossroads: Istanbul tops the list of globalized foodie cities with its median restaurant hosting tourists from 67 different countries in 2024. Doha, Dubai, Marrakech and Cape Town are also on the list with diverse culinary experiences alongside their rich cultural attractions. Wellness in the wild: Africa is establishing itself as a global leader in wellness-centered travel as consumers prioritize rejuvenation and self-care. The Wellness Travel Index (WTI) [3] , developed by MEI to highlight destinations leading the way for wellness experiences and self-care , has Namibia, South Africa, and Botswana among the top destinations for travelers seeking spa-style and nature-based retreats and immersive eco lodges. The rising WTI score for Kenya suggests a growing effort in the destination to meet this popular demand. , developed by MEI to highlight destinations leading the way for wellness experiences and self-care , has Namibia, South Africa, and Botswana among the top destinations for travelers seeking spa-style and nature-based retreats and immersive eco lodges. The rising WTI score for Kenya suggests a growing effort in the destination to meet this popular demand. Top regional hotspots: Recent reforms made it easier to travel to Saudi Arabia which spurred a rise in passenger traffic to Jeddah and Riyadh. The government's economic diversification efforts have also attracted newcomers: Investment in massive projects has created jobs and boosted business travel, while the development of tourism and leisure infrastructure is turning the kingdom into an emerging leisure destination. Wheeling and dealing closer to home: In general, business travellers favour trips within their own regions, driven by hybrid work models and geopolitical uncertainty. However, there are exceptions, with UK businesses spending a growing share of their travel budgets in Eastern Europe, the Middle East and Africa (EEMEA) at the expense of trips within their region. Other global trends: Sports fandom fuels travel. MEI examined spending within five miles of the venue for the Champions League Final in London. Real Madrid's victory over Borussia Dortmund led to a 61% YOY increase in German spending, outpacing the overall increase of 14%, whereas Spanish spending spiked by 148% YOY, suggesting fans celebrated by splurging. Currency changes can impact travel, but it varies regionally. In 2024, currency depreciation drove visitors in search of value to Japan, where a 1% JPY depreciation against the RMB led to a 1.5% increase in Chinese Mainland tourists. However, visitors from New Zealand and the U.S. rose only around 0.2% in response to the same degree of depreciation relative to their currencies. Mastercard is dedicated to helping the global tourism sector grow through market analysis and high-frequency, data-driven insights that enhance the travel experience. By empowering destinations and businesses to better understand evolving consumer trends, Mastercard is helping to shape a more connected and resilient future for travel across Eastern Europe, the Middle East, and Africa.
