UAE Business: Global TAA revenue to hit $260bn by 2024: Phocuswright – Gulf Digital News

UAE Business: Global TAA revenue to hit $260bn by 2024: Phocuswright – Gulf Digital News

Gross revenue of the tours, activities and attractions (TAA) industry in 2024 will surpass that of 2019, when global gross bookings will reach $260 billion, said Phocuswright, a global travel industry research authority.

Post-pandemic changes in shopping and booking behaviour are fuelling a boom in the industry, according to Phocuswright’s new joint travel research report with Arival, “The Outlook for Travel Experiences 2019-2025”.

Travel experiences represented $253 billion in global gross ticket revenue in 2019, making it the third-largest sector of tourism after transportation and accommodation,

TAA was the hardest-hit area of travel during the pandemic, but has bounced back largely due to shifts in traveler behaviour, according to the latest research findings from on the Tours & Activities sector, released ahead of Phocuswright’s annual conference next week in Arizona, USA.

“TAA has long been one of the largest and most important sectors in travel and tourism – and despite the heavy toll of the pandemic on operators worldwide, it has remained resilient in 2022,” said Eugene Ko, Director of Marketing and Communications at Phocuswright.

“As we look ahead to 2023, travelers are placing more of a focus on experiences and once-in-a-lifetime activities. They want to make up for time lost during the pandemic, seeing