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Growth Stabilizes in Asia Pacific, Leading the Way

Byeditor

Apr 4, 2024

The travel industry saw continued growth in February 2024, with a 7% increase over the previous year. This shift from double-digit growth to single digits is seen as a positive sign indicating stability in the industry.

Asia Pacific has been a key driver of growth, leading the Skift Travel Health Index. China’s reopening of its borders for travel after three years has significantly impacted the region’s performance, resulting in a 13% growth in February 2024. However, growth numbers are slightly decreasing compared to previous months, suggesting a trend towards stabilization.

The Skift Travel Health Index Score by Region shows the performance of different regions, with Asia Pacific leading in growth in recent months. Europe, Latin America, the Middle East and Africa, and North America are also seeing varying levels of growth and stabilization.

Vacation rentals, which saw a boom during the pandemic, are now showing signs of stabilization. Demand for vacation rentals had surged with double-digit growth, but recent data suggests a deceleration in this trajectory, indicating a moderation in demand levels. Despite this, the sector’s performance remains above pre-pandemic levels.

To gain further insights, one can read the February 2024 Highlights and the Travel Health Index dashboard. These resources provide a detailed look at the current trends and performance of the travel industry.

By editor

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