In February 2024, the travel industry experienced a 7% increase in growth compared to the previous year. This marks a shift from double-digit growth to single digits, which is seen as a positive sign indicating stability in the industry.
The Asia Pacific region has been a key driver of growth, leading the Skift Travel Health Index with a 13% growth in February 2024. However, this growth rate is slightly decreasing compared to previous months, suggesting a trend towards stabilization.
According to the Skift Travel Health Index Score by Region, Europe, Latin America, the Middle East and Africa, and North America are also seeing varying levels of growth and stabilization.
Vacation rentals have seen signs of stabilization after experiencing a boom during the pandemic. Demand for vacation rentals surged with double-digit growth but has since decelerated, indicating moderation in demand levels. Despite this, the sector’s performance remains above pre-pandemic levels.
To gain further insights into current trends and performance in the travel industry, one can read the February 2024 Highlights and the Travel Health Index dashboard. These resources provide a detailed look at how different regions are performing and what factors are driving their success or challenges.
