Analysis and Studies - Studies
Travel services: import and export
October 18th 2022
In 2020, the travel industry went through one of the most difficult moments in its history. According to the World Touristic Association, tourism has fallen by -73% compared to the previous year.More, a survey dating back to June 2020 showed as 85% of the travel agencies and tour operators in Germany saw their existence threatened.
Travel services are not just airlines or hotel chains. But there is a world of organizations and businesses that arrange hotels or other accommodations, vacation or travel packages, and bookings for domestic or international travel by air, rail, ship, bus, or another mode of transportation.
Let’s look at the import and export of travel services. In 2020, the top exporters of financial services were the United States ($72 million), France ($32 million), Australia ($25 million), United Arab Emirates ($24 million), and Germany ($22 million) . The top importers were China ($131 million), Germany ($40 billion), the United States ($35 million), France ($27 million), and the United Kingdom ($21 million).
Nowadays the travel industry has come back to work again. The world is slowly leaving behind the pandemic and people can tour again, for leisure or for business. In 2021 the tourist sector saw a growth of 4% compared to the previous years, but the passengers are way below pre-pandemic levels.
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