Five years ago, daily life as most of us knew it came to a halt as the world entered the grip of a global pandemic.

Travel – an industry worth US$10.3 trillion globally in 2019, accounting for 10.5 per cent of all jobs around the planet and 7 per cent of all trade – was brought to a standstill. Many feared it would take years to recover.

But that concern dissipated by May 2024, when, according to a report from the World Economic Forum: “Tourism is back to pre-pandemic levels.” The report explained that the global tourism industry in 2024 was not only expected to recover from the Covid-19 pandemic, but might even surpass the levels seen before the crisis.

A record US$1 out of every US$10 spent globally in 2024 was expected to be spent on travel as consumers rushed to book hotels, cruises and flights, the World Travel & Tourism Council (WTTC) reported.

The WTTC also estimated that the industry’s contribution to global GDP in 2024 would increase 12.1 per cent year-over-year to reach US$11.1 trillion, making up 10 per cent of global GDP. That figure represented a 7.5 per cent increase from the previous record set by the travel industry in 2019, before the pandemic emerged.

Travel industry employment has recovered as well. The sector was expected to support nearly 348 million jobs in 2024, 13.6 million more jobs than 2019 industry employment highs.