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Travel poised for continuous growth despite economic and political challenges

Government
Ilaria Grasso Macola
9 May 2024

The travel industry is poised for continuous growth this year despite significant socioeconomic and geopolitical challenges.

Aircraft sunset (rendering)

Spending across travel went up by 10.1% in the 12 months to March 2024, new Barclays data has revealed

Barclays Travel Forum delegates on Thursday (9 May) heard that despite high rates of interest and inflation, regulatory changes and geopolitical shocks, travel had a strong 2023 with that post-Covid upward trajectory set continue in 2024 as well.

 

Rohan Kumar, Barclays head of client insight, told the forum that over the past 18 months there had been continuous growth in the travel space with spending going up due to Brits continuing to prioritise their holidays above all other areas of non-essential spending.