After a turbulent two years, new research from the Mastercard Economics Institute reveals that global leisure and business flight bookings1 have surpassed pre-pandemic levels, while spending on cruise lines, buses and trains saw sharp improvements this year. A new report, Travel 2022: Trends and Transitions, delivers critical insights across 37 markets about the global state of travel in a post-vaccine and less restricted chapter of the pandemic era.
Importantly, if flight booking trends continue at their current pace, an estimated 115 million more passengers in Eastern Europe, Middle East and Africa will fly in 2022 compared to last year, according to an analysis by the Mastercard Economics Institute. Drawing on a unique analysis of publicly available travel data2, as well as aggregated and anonymized sales activity in the Mastercard network3, the report dives into key elements of the traveler journey. Key findings through April 2022 include:
“Like any flight, the travel recovery has faced both headwinds and tailwinds. As the ‘Great Rebalancing’ takes place around the world, this mobility is critical to a return to pre-pandemic life,” said Bricklin Dwyer, Mastercard chief economist and head of the Mastercard Economics Institute. “The resilience of the consumer to return to ‘normal’ and make up for lost time gives us optimism that the recovery will continue directionally, even if there are bumps along the way.”
Comprehensive Support to Travelers & Tourism Sector
Mastercard delivers peace of mind, convenience and value for consumers and businesses of all sizes as they adjust to the return of travel. Whether their journey is near or far, consumer, corporate and T&E cardholders have access to an expanding list of programs, platforms and partnerships. Mastercard Travel & Lifestyle Services provides travel planning, offers, booking, guarantees and 24/7 hands-on concierge support. While in destination, Priceless.com gives travelers access to once-in-a-lifetime experiences, benefits and offers like Mastercard Travel Rewards. And, for small business travelers, Mastercard Easy Savings offers discounts and purchasing power at digital business service providers, fine-dining restaurants and international retailers and hotels.
Mastercard is also dedicated to helping the global tourism sector recover and welcome travelers through a range of services, from market analysis and high-frequency data insights that help make sense of changing consumer trends to marketing solutions and consumer engagement strategies that drive brand loyalty and maximize bookings. Most recently, the Tourism Innovation Hub in Spain was launched to develop tailored products and solutions to support a sustainable, inclusive return to travel through innovation, research and collaboration across the ecosystem.
You can view the full Travel 2022: Trends and Transitions here. Other reports from the Mastercard Economics Institute can be found here.