Tourism Economics

Travelers across the globe felt the effects of the CrowdStrike outage as it grounded thousands of scheduled flights. While operations have steadied, the risk of disruptions remains as major airlines work to recover. Read on for an in-depth look at how commercial airlines were impacted and where the effects were felt most: https://lnkd.in/gq6ZNHQ2 Explore more on the hidden costs of downtime in business: https://lnkd.in/gz4eR3Gd

The Paris 2024 Olympic and Paralympic Games is the largest event ever to be organized in France. Billions are expected to tune in as the Games—which will bring together more than 10,000 athletes from around the globe—kick off in Paris this week and run through mid-August. With 19 days of competition and 325+ events, the Olympics will no doubt leave its mark on the city and the larger economy of France. Accelerated recovery is expected in Paris, with international arrivals to the city rising to 14% above 2019 levels (vs. France at just +11%). Read on for more insights into the latest rates, expected impacts and potential drawbacks in our latest blog by Senior Economist Chloe Parkins: https://okt.to/9sE5h7 Learn more about the economics of the Olympics: https://okt.to/FcjrXO

We're proud to partner with the California Hotel & Lodging Association on the recent launch of the Hotel Caring initiative—an effort to highlight the significant positive social impacts the lodging industry contributes. “Hotels play important roles in local communities, as employers and by hosting guests that support economic impacts and tax revenues, but also as community stakeholders,” said Aran Ryan, Director of Industry Studies at Tourism Economics. “This new research helps quantify such corporate social responsibility, building a more complete picture of economic and community significance.” 📊 A pilot study in San Diego showcased the industry contributed an average of 182 volunteer hours, 96 no-cost training hours for community members and $58,000 in various donations annually. Results for the entire state and specific markets will be available in the fall of 2024. Read more: https://lnkd.in/eyZ8ud7q Are you with a hotel in CA? Take the survey: https://lnkd.in/eJnNfSDj

It is an honor to celebrate our president, Adam Sacks, as the Destinations International 2024 Spirit of Hospitality Award recipient. His 25+ years of providing expertise to destinations, associations and global businesses serves as the foundation of our team’s dedication to excellence for the industry. Click through for his comments and read more here:  https://lnkd.in/eW22dqvA #DIAC24

📣 We are thrilled to welcome a longtime travel industry leader as the newest member of our growing team—Chuck Davison, CDME. Joining as Vice President of Attribution Solutions, his extensive expertise in integrating emerging technologies with business strategy will serve as a valuable addition to our team, clients and partners. Welcome, Chuck! https://lnkd.in/e3qiMyAE

Summer is in full swing and international travel growth is set to reach record-high volumes later this year. Helen McDermott and Dave Goodger detail current trends in all major regions around the globe in our latest webinar—including key demand-driving markets, shifts in market share and trends in volume vs. value. Access the full webinar here: https://lnkd.in/eWA_EBa4

We celebrate this testament of meaningful work for a great industry and look forward to honoring Adam's dedication, alongside Destinations International, at the Annual Convention! #DIAC24

Now well into the summer season, strong travel intentions, growth in outbound and continued recovery of inbound international travel are driving increased U.S. airport traffic. ⬅️ Flashback to the first five months of 2024: More than 360 million travelers passed through security checkpoints in U.S. airports January through May—including more than 10 million during Memorial Day weekend. Overseas inbound arrivals to the U.S. through May registered 14% below the same period in 2019, despite a 20% gain over the same period last year. Recovery has varied by region—the strongest rebound being from Central America with a 16% gain over the first five months of 2019. We continue to monitor changes here and across the global #traveleconomy. 💡 Learn more about our work: https://lnkd.in/d3uCPmX6

Last week, several team members gathered to connect and collaborate in both Philly and NYC—and the views weren't too shabby. Our dynamic, growing team at Tourism Economics and Oxford Economics enjoyed valuable time together as we look ahead to the second half of the year. 🚀

One in every 21 Wisconsinites makes a living thanks to travel and tourism—a testament to the industry's impact. Our friends at Travel Wisconsin had a record-breaking year in 2023, generating $25 billion in economic impact as they welcomed visitors across all corners of the state. Learn more: https://lnkd.in/ex_V64b3