Staff shortages hit tourism

HOTELS in Australasia are currently capping occupancy rates to address continual staff shortages, with the issue likely to persist until backpacker numbers return to pre-pandemic levels, according to a new report from global research firm Euromonitor.

The study was presented today as part of a Webjet briefing for merchant bank UBS, forecasting global domestic tourism spending of over $4.5 trillion in 2028, along with $3 trillion-plus in spending by international tourists globally.

Global inbound travel arrivals are expected to be almost 30% above pre-pandemic levels by 2028, the report found.

However, recovery in the Asia-Pacific region is “slow and steady”, with the fastest growing categories forecast to be wellness (15%), theme parks (14%) and food and dining (13%).

In Europe the strongest growth is predicted in duty-free shopping (11%), festivals and leisure events (7.9%) and guided tours (6.8%), however activity is likely to be constrained by global conflicts and the cost of living crisis.

The fastest-growing travel categories in the Americas are forecast to be duty-free shopping (9%), medical tourism (7%) and experiences (7%), with the Euromonitor analysts cautiously optimistic about worldwide travel and tourism growth prospects.

The report also gives an overview of the hotel wholesale sector, detailing the complex accommodation value chain which often sees several intermediaries involved.

“Hotel wholesalers ensure global reach and greater certainty,” according to the study, providing a one-stop-shop for essentials such as unified payments, customer service, room databases and trade partnership arrangements.

The global wholesale sector is estimated to be worth US$58.6 billion, with 7.7% compound annual growth forecast.