In the latest forecast from the International Air Transport Association (IATA), it is said that global airline profits will be higher than originally forecast. The number of people taking flights will be close to pre-pandemic levels. According to IATA, about 4.35 billion passengers are expected to fly this year, close to the record 4.54 billion…
Summer, the peak season of the year in Vietnam, has arrived. To breakthrough in the number of tourists and revenue during this time, destinations and businesses need to grasp all key information about tourists, the end-users in a tourism product/service. Though this is the peak season for Vietnamese domestic tourists, should we equate an approach…
Dubai’s ruler announced new plans to develop the man-made island of Palm Jebel Ali, double the size of the famous island Palm Jumeirah. The island is part of a project to build artificial islands shaped like palm trees. The Palm Islands, consisting of three islands Palm Jumeirah, Palm Jebel Ali, and Palm Deira, an international…
The Japanese government is trying to attract wealthy tourists to the country by implementing several initiatives. Although accounting for only 0.9% of the total number of tourists to Japan in 2019, the super-rich foreign travelers contributed up to 11.5% of the total spending of international tourists in the country. Therefore, in order to attract more…
Phu Quoc (Kien Giang) has often been listed in the top famous tourist attractions and island destinations in Vietnam. However, the island is gradually losing its attractiveness for many reasons. Phu Quoc was once among the top 3 most popular destinations for domestic tourists according to the Q4/2022 survey of Outbox. But in Q1/2023, the…
The COVID-19 pandemic left serious impacts on the tourism and hospitality industry. Recently, many hotels in Ho Chi Minh City have been closed and put up for sale due to a drop in international arrivals and lower-than-expected sales. Many hotel owners need to borrow from banks to do business or rent retail space. Many large…
According to a recent report of Thailand’s National Economic and Social Development Council (NESDC), the country’s unemployment rate in the first quarter fell to the lowest level in three years thanks to the strong recovery of the tourism industry. In Q1 2023, Thailand’s unemployment rate stood at 1.05%, lower than the level of 1.15% in…
According to aviation analytics company Cirium, global airline passenger traffic could surpass 2019 levels before the end of this year. Previous forecasts have suggested that global airline passenger traffic will not recover until 2024. However, according to the latest analysis by Cirium, traffic is showing a faster-than-expected recovery, with growth in terms of RPK (revenue…
After the pandemic, airfares skyrocketed in many regions around the world. In particular, fares in the Asia-Pacific region increased the most, increasing by more than 33% over the same period in 2019. They increased by 17% and 12% in North America and Europe, respectively. The problem arises when North American and European countries have already…
Facing many uncertainties and changes, especially in the tourism industry, applying only one strategy and hoping that will be the business guidance throughout the year is no longer suitable and can lead to serious mistakes. Instead, scenario forecasting will be an important strategy for destination management organizations (DMOs) and stakeholders. This is extremely important during…