WTM Report: Global tourism spending to reach record $7.8 trillion

Global tourism spending is projected to reach a historic high of $7.8 trillion in 2026, representing a 9% increase from the previous year, according to the WTM Global Travel Report. While total overnight stays are expected to hit 24.2 billion, the report notes a shift in travel patterns due to geopolitical instability.

The conflict involving Iran has significantly impacted international traffic, particularly in the Middle East, where arrivals have dropped by 40%. This decline is attributed to disrupted routes and rising ticket prices driven by increased fuel costs. Consequently, intercontinental travel has seen a global decrease of 3%, as travelers increasingly opt for shorter-distance trips.

Despite these challenges, other regions are seeing growth. Arrivals in Africa and Oceania are projected to rise by 8%, while Europe is expected to see a 5% increase. North America is forecasted to have a modest 2% increase in international arrivals, which remains 6% below 2019 pre-pandemic levels.