Latest news with #visitorSpending
Skift
4 days ago
- Business
- Skift
India International Visitor Spending Hits Record High
STR reported China hotel data for the week ended May 31st. China hotel RevPAR fell 13% year-over-year, up against a tough comp of a 2% increase in the year-ago week. The decline was split somewhat evenly, with occupancy down 6.4% and ADR down 7%. The World Travel & Tourism Council said international visitor spending in India jumped to an all-time high of US$36.8 billion in 2024, up 9% over the pre-pandemic levels in 2019. India welcomes 20 million foreign tourists in 2024, surpassing 2019 figures by 2.3 million. They are projecting increases in 2025 off the record performance bolstered by increasing air connectivity, digital visa systems, and rising global interest in India's heritage and natural assets. Domestic tourism generated US$185.6 billion in 2024, up 22% from 2019 levels. The WTTC also expects that to rise in 2025, driven by younger demographics, increased disposable incomes, and a stronger post-pandemic preference for local exploration. The report indicated domestic tourists contributed nearly 84% of the total visitor spending in 2024. India's total travel and tourism GDP contribution in 2024 stood at US$249.3 billion, up 20% over 2019, about 6.6% of the national economy. Japan welcomed more than 3.9 million foreign visitors in April 2025, driven by U.S. demand and major cultural events. That is a new record, according to the Japan National Tourism Organization, and up 28.5% from April 2024. Arrivals from the United States were up 43% year-over-year, with visitors from the U.S. already topping one million in the first four months of the year. Thailand's government is on a full-court press to try to offset the negative perception and reception to their casino entertainment complexes plan. The expectation had been a quick passage so they could get them open before MGM opens their massive IR in Osaka, Japan. That has all changed. The government's press conference on the matter laid out plans for passage of the bill in 2026 (originally expected very early 2025), looking like fewer properties than before with higher budgets, opening in 2030-2031, right around the time MGM is expected to open in Japan. It also seems like they are changing their tune on the locals being allowed to gamble as the previous, very unpopular by the industry, plan to only have those with a lot of money in the bank to be allowed to gamble changed to only those on a negative list, such as self-exclusion or family exclusion being unable to enter the casino. Those areas without casinos will be viewed as potential for entertainment facilities like stadiums and cruise/yacht terminals. Next month is when lawmakers will start debating the bill, and there is still the Senate study, which is looking like it will have a negative bias, so this is definitely still not a sure thing. Hilton Tokyo announced it will redo its ballroom as part of a multi-million dollar phased renovation of event spaces to meet the growing demand from international and domestic markets. The remodel will transform the Shinjuku property's entire fourth floor, comprising a total floor space of 1,422 square meters, to create modern, tech-ready areas for flexible event experiences. This follows the completion of renovations on the third floor last year, which added 200 square meters of meeting space to the existing 1,000 square meters. This latest phase is due to be completed in October. The Kiku Ballroom will be remodeled to allow for partitioning into four sections. The hotel has 830 guest rooms and is known as a premier destination for events. IHG Hotels & Resorts has expanded its hotel management portfolio in Vietnam by signing an agreement with Nha Trang Bay JSC, a member of the GreenSpark Group. IHG will manage the voco Scenia Bay Nha Trang – By IHG, opening around the end of this year. The 250-unit property will have 28 floors, located less than an hour's drive from Cam Ranh International Airport. Amenities will include a swimming pool, restaurant, bars, and meeting facilities, and will be IHG's fourth hotel in the region. They have 20 hotels across eight brands scattered across the country. Dusit Princess Melaka, Dusit International's debut property in Malaysia, held its grand opening on May 29th. The hotel unveiled one of the largest meeting and event spaces in Melaka, further enhancing the city's appeal as a regional MICE destination. The 296-room hotel is located in the heart of the UNESCO World Heritage City. Pontiac Land Group, developer and owner of Capella Sydney, is looking for more mixed-use projects in Australia. Pontiac said they were attracted to the NSW capital due to high government spending on infrastructure, such as the metro, Australia's biggest public transport project. The 192-room Capella Sydney was opened two years ago. City Developments Ltd. agreed to sell its 50.1% stake in the South Beach mixed project in Singapore to its Malaysian partner, IOI Properties Group, for about S$834.2 million. The deal values the complex at S$2.75 billion, including the S$1.16 billion in liabilities. The project in Singapore's CBD includes retail space, a 34-story office tower, and a 45-story building housing JW Marriott Hotel Singapore. Far East Orchard Ltd. announced the termination of its joint venture agreement with Real Hospitality Group Asia Co. Ltd. The JV had been formed to establish a hospitality management business in China, but Far East said the JV had been unable to find suitable opportunities, so it was terminated. Wyndham Hotels & Resorts has expanded its presence in Eastern India with the opening of Ramada by Wyndham Ranchi Bariatu Road, marking the brand's debut in the capital of Jharkhand. The hotel is located in the premium Rameshwaram Colony on Bariatu Road and was developed by Shakambari Builders Private Limited. It has 66 rooms and a full range of modern amenities, designed to cater to both business and leisure travelers.
Travel Daily News
15-05-2025
- Business
- Travel Daily News
US economy set to lose $12.5b. in international traveler spend
WTTC warns the U.S. risks losing $12.5bn in international visitor spending in 2025, threatening jobs, economy, and global tourism leadership. LONDON, UK – The World Travel & Tourism Council (WTTC), the global body representing the Travel & Tourism private sector, announced its latest Economic Impact Research which found that the US is on track to lose a staggering $12.5bn. in international visitor spending this year. Notably, international visitor spending to the U.S. is projected to fall to just under $169bn. this year, down from $181BN in 2024. This significant shortfall represents a 22.5% decline compared to the previous peak. The loss won't be felt by Travel & Tourism alone, with WTTC saying it represents a direct blow to the U.S. economy overall, impacting communities, jobs, and businesses from coast to coast. According to the study, the U.S, the largest Travel & Tourism sector in the world, is the only country among 184 economies analysed by WTTC and Oxford Economics, forecast to see international visitor spending decline in 2025. A Global Leader in Reverse Julia Simpson, WTTC President & CEO, said: 'This is a wake-up call for the U.S. government. The world's biggest Travel & Tourism economy is heading in the wrong direction, not because of a lack of demand, but because of a failure to act. While other nations are rolling out the welcome mat, the U.S. government is putting up the 'closed' sign.' Simpson continues, 'Without urgent action to restore international traveller confidence, it could take several years for the U.S. just to return to pre-pandemic levels of international visitor spend, not even the peak from 10 years ago. This is about growth in the U.S. economy – it is doable, but it needs leadership from DC.' In 2024, nearly 90% of all tourism spending came from domestic travel, with Americans holidaying at home in record numbers. But this heavy reliance on homegrown tourism is masking a serious vulnerability; the international market is where the real growth lies, and the U.S. is losing its crown. According to the U.S. Department of Commerce, new international arrivals data for March 2025 reveal a sharp and widespread drop in inbound travel from many of the country's key source markets: UK arrivals, one of the U.S.'s most important source markets, down nearly 15% year over year Germany, another significant source market, plunged more than 28% South Korea – down almost 15% Other key markets, such as Spain, Colombia, Ireland, Ecuador, and the Dominican Republic, saw double-digit drops between 24% and 33% As widely expected, the Canadian market is drying up, with early summer bookings down over 20% compared to last year. This is more than a dip. It's a wake-up call. While other countries are powering forward, the U.S. is slipping backward. Relying on domestic travellers might have kept the lights on during the pandemic, but without a bold international recovery plan, the world's biggest Travel & Tourism economy risks falling further behind. A Missed Economic Opportunity The economic cost of inaction is clear. Travel & Tourism contributed $2.6tn. to the economy last year and supported more than 20mn jobs. It also contributed more than $585bn. in tax revenue annually, accounting for almost 7% of all government income. It could be even higher with a strong international visitor base. The sector has long been a reliable driver of federal, state, and local tax receipts. At the same time, outbound travel is surging. Americans are travelling abroad in large numbers, yet inbound recovery from key markets has stalled. The U.S. is welcoming fewer visitors from its neighbours and countries further afield, which is a clear indicator that the global appeal of the U.S. is slipping. WTTC warns that this imbalance not only affects local economies and employment but also undermines America's position as a top global destination for trade, culture, and business. In 2019, international visitors generated $217.4bn. in revenue and supported almost 18MN jobs across America. Today, that legacy is under threat. WTTC is calling for immediate action to address travel access, rebuild international marketing efforts, and restore global traveller confidence in the U.S.
South China Morning Post
13-05-2025
- Business
- South China Morning Post
US tourism ‘losing out' on US$12.5 billion as international visitor numbers dwindle
The US is on track for a very bad tourism year. According to new data from the World Travel & Tourism Council (WTTC), shared exclusively with Bloomberg, the country is set to lose US$12.5 billion in travel revenue in 2025, with visitor spending estimated to fall under US$169 billion by year's end. The numbers represent a decline of around 7 per cent in visitor spending year-over-year, and a decline of 22 per cent since tourism reached its peak in the US in 2019. This puts the US in a league of its own. Out of 184 global economies analysed by WTTC in conjunction with Oxford Economics, it's the only one projected to lose tourism dollars this year. 'Other countries are really rolling out the welcome mat, and it feels like the US is putting up a 'we are closed' sign at their doorway,' WTTC President and Chief Executive Officer Julia Simpson said. The consequences, Simpson said, could be devastating. 'The US travel and tourism sector is the biggest sector globally compared to any other country, worth almost US$2.6 trillion,' she said, citing WTTC and Oxford Economics data. According to Simpson's data, direct and indirect tourism represents 9 per cent of the American economy. Visitor spending was one of the 'direct' parts of the travel economy, while 'indirect' contributions included the knock-on effects of increased spending by hospitality professionals. The sector employs 20 million people and creates US$585 billion in US tax dollars each year – 7 per cent of all tax revenue the US government receives. It was a 'major mainstay of the US economy,' she said.
Bloomberg
13-05-2025
- Business
- Bloomberg
The US Is on Track to Lose $12 Billion in Travel Revenue in 2025
The US is on track for a very bad tourism year. According to new data from the World Travel & Tourism Council (WTTC), shared exclusively with Bloomberg, the country is set to lose $12.5 billion in travel revenue in 2025, with visitor spending estimated to fall under $169 billion by year's end. The numbers represent a decline of around 7% in visitor spending year-over-year, and a decline of 22% since tourism reached its peak in the US in 2019.
