As Bitcoin reclaims its zenith and the buzz around cryptocurrencies resurfaces, the travel industry and global economies face a significant shift with the emergence of Central Bank Digital Currencies (CBDCs). These state-controlled digital currencies aim to meld the efficiency of cryptocurrencies with the stability of traditional banking, presenting a paradox of innovation and control. CBDCs carve a path toward modernizing payments without relinquishing governmental oversight. Yet, as nations from China to the Eurozone accelerate their CBDC initiatives, questions about digital wallet security, privacy, government overreach and the broad acceptance of such currencies linger. The travel industry, slow to adopt digital payments, now faces the imperative to integrate these developments, which could redefine financial transactions. The real test will be their integration into the global payment landscape without compromising personal freedom and security.

Analysts: Norm Rose, Michael ColettaTopic: Technology InnovationSegments: Air, Hotels & Lodging, Online Travel AgenciesRegions: Asia Pacific, Europe, U.S. & CanadaResearch Type: Article

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This data sheet provides quick and easy access to updated Eastern Europe travel market sizing data and projections from 2021-2027, including online and total markets, segments and key distribution channels. Much of the data included here, along with expanded analysis, is also featured in Phocuswright’s Eastern Europe Travel Market Report 2023-2027.

Analysts: Krassi Simonski, Coney Dongre, Stan PawlowTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Rail, Tours & Packages, Traditional Agencies & TMCsRegion: EuropeResearch Type: Market Data Sheet

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The number of French travelers has reached a new high. Travel incidence also grew across all age groups, and there is strong intention to keep up leisure travel among the French populace going forward. While continuing economic challenges may pose some roadblocks, travel and tourism rank highly for discretionary spend.

Analysts: Chris Thompson, Alicia SchmidTopic: Consumer TrendsSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Tours & PackagesRegion: EuropeResearch Type: Report

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Travelers in Germany rank travel at the top of their discretionary spend priorities. Despite economic challenges, the number of German travelers in 2023 has officially exceeded pre-pandemic levels, and travel incidence continues its upward trajectory. This report, based on a comprehensive survey of Germany travelers and those who plan to travel in the future, explores consumers’ trip-planning and purchasing behavior, and their attitudes toward travel in 2023 and beyond. 

Analysts: Chris Thompson, Alicia SchmidTopic: Consumer TrendsSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Tours & Packages, Short-Term RentalRegion: EuropeResearch Type: Report

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The landscape of generative artificial intelligence (GenAI) has profoundly shifted since the debut of ChatGPT in November 2022, introducing a new era marked by innovations such as autonomous agents. These agents, capable of performing complex tasks autonomously, signify evolution from traditional AI by eliminating the need for constant human oversight. This advancement poses both opportunities and challenges for the travel industry, as GenAI has begun to reshape everything in the industry. Nevertheless, scrutiny surrounding these technologies remain, due to the potential for displacement of traditional roles. As GenAI continues to develop, its integration and normalization will likely dictate new paradigms in both technology usage and industry standards, promising a future where autonomous digital agents could become as commonplace as personal computers.

Analysts: Norm Rose, Michael ColettaTopic: Technology InnovationSegments: Air, Hotels & Lodging, Online Travel AgenciesRegions: Asia Pacific, Europe, U.S. & CanadaResearch Type: Article

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This data sheet provides comprehensive market sizing and projections for the Europe travel industry (France, Germany, Italy, Scandinavia, Spain and the U.K.) from 2021-2027, including analysis of key segments, share and trends, distribution and recovery dynamics by segment, and more. Much of the data included here, along with expanded analysis, is also featured in Phocuswright’s Europe Travel Market Report 2023-2027.

Analysts: Ralph Merten, Coney Dongre, Stan PawlowTopic: Market Overview & SizingSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Rail, Tours & PackagesRegion: EuropeResearch Type: Market Data Sheet

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Phocuswright’s Social Media Usage Approach in Travel is part of a comprehensive consumer research study delving into the specifics of how social media platforms are used for travel.

Analyst: Madeline ListTopics: Consumer Trends, Social & Search, Technology InnovationSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Short-Term RentalRegion: U.S. & CanadaResearch Type: Report

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Phocuswright’s Scroll, Heart, Fly: Social Media’s Impact on Travel 2024 is a comprehensive consumer research study focused on consumer social media behavior in the modern travel environment.

Analyst: Madeline ListTopics: Consumer Trends, Social & Search, Technology InnovationSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Short-Term RentalRegion: U.S. & CanadaResearch Type: Report

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This report, based on a comprehensive survey of Spain travelers and those who plan to travel in the future, explores consumers’ trip-planning and purchasing behavior, and their attitudes toward travel in 2024 and beyond.

Analysts: Chris Thompson, Alicia SchmidTopic: Consumer TrendsSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Tours & Packages, Short-Term RentalRegion: EuropeResearch Type: Report

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Phocuswright’s Sustainability in Travel Report 2023 is a comprehensive consumer research study focused on sustainability in the modern travel environment.

Analysts: Madeline List, Coney DongreTopic: Consumer TrendsSegments: Air, Car Rental & Ground Transportation, Hotels & Lodging, Online Travel Agencies, Tours & Packages, Short-Term RentalRegions: Asia Pacific, Europe, U.S. & CanadaResearch Type: Report

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