New Telegraph

December 10, 2023

Skift unfolds what 2023 holds for travel

The New Year will give no rest to a weary travel industry. After years of work to dig out of the hole the pandemic put us in, travel in 2023 may find that the hardest part still lies ahead. The groundwork for growth is in place but achieving success will be no simple task.

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In its annual outlook for the travel industry, Skift Research has created 2023 global revenue forecasts for airlines, hotels, short-term rentals, cruise lines, and online travel agencies. Skift also built an estimate for international cross-border travel between 2023–2025.

This outlook is meant as a companion piece to our recent state of travel report that offers in-depth coverage of all travel segments. Heading into 2023 the state of travel remains a mixed bag. Pent-up demand has catapulted the Americas back to 2019 levels even as Asia is just beginning its recovery run.

Short-term rentals are larger than they were pre-pandemic while passenger airlines remain smaller. We still see potential for significant catch-up growth in travel to continue in every region of the world even as that optimism is tempered by gathering economic storm clouds.

What you’ll learn

in this report: Forecasts of cross-border trips 2023– 2025, globally and for North America, Europe, and Asia-Pacific regions; Estimates of 2023 industry revenue for airlines, hotels, short term rentals, cruises, and online travel agencies (OTAs); Skift Travel Health Index Scores by country and sector; and How the evolving economic outlook may impact travel.

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