Q4 2024 Travel Update: Strong but slowing growth rates within the travel industry continue in 2024
All metrics point to a continuation of solid growth in Q4 but with slower growth expected on 2025
1.4 billion international tourists (overnight visitors) were recorded around the world in 2024, an increase of 11% over 2023, or 140 million more. vs 34% in 2023 (recovered (99%) prepandemic levels in 2024)
- Q4 recorded growth of 8.7 y/y vs 6.6% in Q3.
- Europe had 747 tourists in 2024, a 5.5% vs 16% in 2023. (Q4 at 5.1% y/y vs 3.0% in Q3 2024)
- North America had 137 tourists in 2024, a 8.1% vs 24.4% in 2023. (Q4 at 7% y/y vs 6.6% in Q3 2024)
- International tourist arrivals are expected to grow 3% to 5% in 2025 compared to 2024.
Passenger traffic at Europe’s airports exceeded 2.5 billion in 2024, a rise of +7.3% year-on-year, with volumes edging +1.8% ahead of pre-pandemic 2019 levels.
- International passenger traffic, up +8.8% on 2023, with domestic passenger traffic up +2.5% y/y but still -6.3% below pre-pandemic levels.
- Forecasting a +4% growth in passenger traffic for 2025, but forecast under review, considering the overwhelming global political and economic uncertainties.
In 2024, total revenue passenger kilometer increased by 10.4% YoY. More than half of that momentum was carried by Asia Pacific airlines
- Europe growth at 8.4% in 2024
- North America growth at 4.6% in 2024