(yes you read that right).
This post is intended (a) to spur markets you can cater to or research further, and (b) demonstrate travel is rebounding around the world.
Turkey inbound travel had the best EVER year for inbound travel.
Pakistan is growing and almost at pre-Covid levels given the players I’ve spoken with.
Seychelles has capacity constraints with all the inbound travelers from South Asia and MENA.
In most markets, domestic travel is growing and the first to rebound. This is the case in India, the United States, S Africa and China. All have large and growing intra-country traffic.
Cargo revenue is booming and has buoyed many airlines during the Covid slowdown.
Russian travelers, for example and comparatively speaking, still traveled during Covid (hence Turkey inbound market) so the revenue decline catering to these travelers was comparatively less versus other markets.
Nomad travel, staycations, work from different cities around the world, glamping, RV’ing and outdoor activities are growing niche markets.
Intra-region travelers (travelers from 1 country visiting a nearby one) represent a very large untapped opportunity that many travel companies (tourism boards, tour operators…) want to address but typically woefully misjudge. For example, a Kenyan traveler visiting South Africa has very different needs than a UK originating one yet many travel offerings are one size fits all. They don’t need to see local markets, they have those back in Kenya.
Did I mention multiple airline startups around the world?
Religious tourism is rebounding and will continue to grow. People, in general, are going back to their faith (see Pew Research) and this translates to Hajj/Umrah traffic, Nepalgunj, or Kumbh Mela, to name a few. Leave aside the positive knock on effects for hotels, transportation, F&B, etc.
You need to ask yourself if and how your travel company or travel startup can leverage the growth within these bright spots. The approach should be what markets you can best address on a temporary or permanent basis.
If you need to pivot (change) your business model then so be it (I will touch upon this in a future post).
Hang in there, I’m seeing some light at the end of the tunnel.