Varsha Arora

Travel is back! While 2022 was all about bumper performances in some countries and sectors, and lagging performances in others, we can truly say that 2023 is the year that travel fully recovered. But we do need to be clear-eyed about persisting and upcoming challenges. This report hands you everything you need to know in one 250+ slide deck.

Travel landscape undergoes reversal as solo trips decline, blended travel dips, urban travel rebounds, and work shifts to hybrid models, reflecting changing preferences.

Chinese travelers are eagerly embracing new travel opportunities as restrictions ease, with a strong desire to explore their dream destinations and engage in unique cultural experiences.

Despite rising prices and economic uncertainty, many U.S. travelers seem to be ring-fencing their travel budgets from spending cuts.

Business travel spending is unlikely to reach 2019 levels in the near future as corporations are implementing stringent travel policies and the availability of video conferencing options is expected to displace a share of business traffic.

Increasing number of Americans have started to feel the pinch of increasing travel prices. 34 percent of Americans, 10 percentage points higher than last October, plan to decrease their spending on travel in the next 12 months.

So much has happened in the the travel industry in recent years. This new report by Skift Research puts perspective on those dizzying changes by providing definitive and data-driven insight into the current state of the travel industry, and the trends that will shape the future.

The global accommodation sector is witnessing a fast-paced recovery with 2022 revenue levels not far from reaching pre-pandemic levels. A closer look into the industry performance shows interesting variations in the pace of recovery as we review regions and sub-sectors.

The accommodation sector in APAC is witnessing a fast paced recovery with 2022 revenue levels not far from reaching pre-pandemic levels. However, the composition of the industry remains unclear with short-term rentals revenue share decreasing in 2022.

The composition of the European accommodation sector has drastically changed over the last decade with short-term rentals gaining a substantial share. The next few years will be very crucial in shaping the sector in the region with respect to market dynamics.

Except for the down year of Covid, the U.S. accommodation sector has been performing robustly with the short-term rental segment gaining market share. However, it is yet to be seen how the composition of the industry evolves.

The STR industry in APAC is at a nascent stage with promising growth prospects. It is to be seen how the STR market matures to find its demand-supply equilibrium and market leaders.