ITB Berlin 2024: Travel Market Set for Growth Again, Say Experts

H.E. Azzan bin Al Busaidi (Undersecretary of Tourism, Oman), Norbert Fiebig (DRV), Charuta Fadnis (Phocuswright) and Dr. Mario Tobias (Messe Berlin). Photo source: ITB Berlin.

In 2023, the travel market not only recovered from its slump during the crisis of the Covid pandemic, it even surpassed 2019 levels, according to experts at ITB Berlin 2024.

Speaking during the opening press conference on Monday, experts appeared upbeat about the travel industry’s future

According to the tourism market research company Phocuswright, at close to two trillion dollars, turnover last year had returned to pre-pandemic levels.

“Now we can really say the pandemic is over,” said Phocuswright Senior Vice President Charuta Fadnis during the opening press conference.

Charuta Fadnis, Senior Vice President, Research and Product Strategy, Phocuswright. Photo source: ITB Berlin.

According to the company’s data, regions were recovering at different speeds. In 2019 North America, Europe/the Middle East and Asia were more or less equal, each accounting for one-third of bookings. In 2022 North America surged ahead with 40 per cent, while Asia trailed significantly, even lagging behind Europe.

Fadnis highlighted that many challenges remain. Inflation was weaker, but global flashpoints bore new risks. To that could be added the biggest challenge: climate change, which, according to Fadnis, is the industry’s responsibility to take action. “Individual travellers did not see it as their task to actively participate in every sustainability initiative,” she said.

On his part, German Travel Association (DRV) president Norbert Fiebig called for policymakers to financially support the industry’s eco-friendly transformation.

Fiebig also described climate action and sustainability as tomorrow’s most important tasks. The biggest challenge for the tourism industry was the fact that mobility without adequate means, i.e. air travel, was “unthinkable”. He called upon the federal government to rethink its recent decision to stop funding research on sustainable aviation fuels (SAFs).

Norbert Fiebig, president of the German Travel Association (DRV). Photo source: ITB Berlin

Regarding turnover trends, the president of the DRV focused on the German travel market. Here too, bookings for 2024 had already surpassed 2019 levels. The figures for the winter holiday season, which had just ended, were 11 per cent higher than for the same period in 2019. He anticipated 13 per cent growth for this summer. Sun & beach vacations continued to top the list of German holidaymakers. Turkey had overtaken Spain as the number one destination, and Greece had also become more popular. Egypt was in fourth place.

Fiebig concluded by appealing to holidaymakers and stakeholders at ITB Berlin: “Let us travel in order to make the world a better place.”

ITB Berlin 2024 is running until March 5 on the Berliner Exhibition Grounds

GTP is attending ITB Berlin 2024. Updates can be found through our special ITB Berlin 2024 section.