Middle East-based online travel marketplace Wego has acquired corporate travel platform Travelstop as part of its expansion into business travel and expense management.
Asia Pacific Overtakes Europe in Recovery: New Skift Travel Health Index
25.08.2023 - 13:57 / skift.com / Asia Pacific / Saniya Zanpure / Skift Research
Global travel recovery doesn’t seem too far. The Skift Travel Health Index witnessed a month-on-month uptick of 4 percentage points (pp) in February 2023 and now stands at 93. We anticipate this year to bring recovery and growth to the travel industry.
The latest February Highlights show that all sectors except aviation have achieved full recovery. The aviation sector grew over January 2023 and is at the highest it has been since a year.
While the industry has faced multiple challenges arising from the pandemic, war, and natural calamities, travel across most regions has flourished. The Asia Pacific region which had been the “black sheep” for a long time displayed speedy recovery. Travel performance in Europe was impacted by the cancellations in Turkey due to the earthquakes. As of February 2023, travel performance in the Asia Pacific region overtook Europe. This report dives deep into growing demand in Asia Pacific.
Hotels have adopted strong pricing strategy to drive recovery. The re-opening of China also boosted sales volumes for Southeast Asian countries. Group tours from China have restarted in some countries already. However, there still lies room for growth in group pricing.
More analysis can be found in our February 2023 Highlights report and on our Skift Travel Health Index data dashboard.
Purchase this report, or subscribe to Skift Research to read our latest analysis on the performance of the travel industry.
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