Due to the impact of the coronavirus (COVID-19) pandemic, it was estimated that the global travel and tourism market had lost roughly 63 million jobs in 2020. While this scenario improved significantly in 2022, the sector still reported around 39 million fewer jobs worldwide compared to 2019. Overall, the Asia-Pacific region recorded the most significant employment loss due to the COVID-19 pandemic, with approximately 28 million fewer travel and tourism jobs in 2022 compared to 2019.

In 2020, an estimated number of 12.4 million jobs in the travel and tourism industry (equivalent to 51 percent of tourism employment) were lost as an impact of the coronavirus (COVI-19) pandemic in Africa. Moreover, on the basis that there would be no improvement in the situation, it was estimated that 15 million jobs in this sector (corresponding to 61 percent) would be lost by the end of 2020.

A December 2020 study analyzed the number of tourism jobs lost due to the coronavirus (COVID-19) pandemic in Ireland. The report estimated that in 2020 more than *** thousand jobs were lost within the industry as a result of the pandemic. The food and beverage sector was the worst impacted by the health crisis, with roughly ** thousand jobs lost overall.

Due to the coronavirus (COVID-19) pandemic, Canadian province British Columbia is predicted to lose as many as ** thousand jobs in 2020 if the virus is contained as a result of lost tourist spending. If the virus is not contained, loss in jobs is predicted to reach ** thousand.

What is the COVID-19 Economic Vulnerability Index?The COVID-19 Vulnerability Index (CVI) is a measurement of the negative impact that the coronavirus (COVID-19) crisis can have on employment based upon a region's mix of industries. For example, accommodation and food services are projected to lose more jobs as a result of the coronavirus (in the neighborhood of 50%) compared with utilities and healthcare (with none or little expected job contraction).This updated dataset contains 116 jobs attributes including the 10 most likely jobs to be impacted for each county, the total employment and employment by sector. An attribute list is included below.An average Vulnerability Index score is 100, representing the average job loss expected in the United States. Higher scores indicate the degree to which job losses may be greater — an index score of 200, for example, means the rate of job loss can be twice as large as the national average. Conversely, an index score of 50 would mean a possible job loss of half the national average. Regions heavily dependent on tourism with relatively high concentrations of leisure and hospitality jobs, for example, are likely to have high index scores. The Vulnerability Index only measures the impact potential related to the mix of industry employment. The index does not take into account variation due to a region’s rate of virus infection, nor does it factor in local government's policies in reaction to the virus. For more detail, please see this description.MethodologyThe index is based on a model of potential job losses due to the COVID-19 outbreak in the United States. Expected employment losses at the subsector level are based upon inputs which include primary research on expert testimony; news reports for key industries such as hotels, restaurants, retail, and transportation; preliminary release of unemployment claims; and the latest job postings data from Chmura's RTI database. The forecast model, based on conditions as of March 23, 2020, assumes employment in industries in each county/region would change at a similar rate as employment in national industries. The projection estimates that the United States could lose 15.0 million jobs due to COVID-19, with over half of the jobs lost in hotels, food services, and entertainment industries. Contact Chmura for further details.Attribute ListFIPSCounty NameStateTotal JobsWhite Collar JobsBlue Collar JobsService JobsWhite Collar %Blue Collar %Service %Government JobsGovernment %Primarily Self-Employed JobsPrimarily Self-Employed %Job Change, Last Ten YearsIndustry 1 NameIndustry 1 EmplIndustry 1 %Industry 2 NameIndustry 2 EmplIndustry 2 %Industry 3 NameIndustry 3 EmplIndustry 3 %Industry 4 NameIndustry 4 EmplIndustry 4 %Industry 5 NameIndustry 5 EmplIndustry 5 %Industry 6 NameIndustry 6 EmplIndustry 6 %Industry 7 NameIndustry 7 EmplIndustry 7 %Industry 8 NameIndustry 8 EmplIndustry 8 %Industry 9 NameIndustry 9 EmplIndustry 9 %Industry 10 NameIndustry 10 EmplIndustry 10 %All Other IndustriesAll Other Industries EmplAll Other Industies %Agriculture, Food & Natural Resources EmplArchitecture and Construction EmplArts, A/V Technology & Communications EmplBusiness, Management & Administration EmplEducation & Training EmplFinance EmplGovernment & Public Administration EmplHealth Science EmplHospitality & Tourism EmplHuman Services EmplInformation Technology EmplLaw, Public Safety, Corrections & Security EmplManufacturing EmplMarketing, Sales & Service EmplScience, Technology, Engineering & Mathematics EmplTransportation, Distribution & Logistics EmplAgriculture, Food & Natural Resources %Architecture and Construction %Arts, A/V Technology & Communications %Business, Management & Administration %Education & Training %Finance %Government & Public Administration %Health Science %Hospitality & Tourism %Human Services %Information Technology %Law, Public Safety, Corrections & Security %Manufacturing %Marketing, Sales & Service %Science, Technology, Engineering & Mathematics %Transportation, Distribution & Logistics %COVID-19 Vulnerability IndexAverage Wages per WorkerAvg Wages Growth, Last Ten YearsUnemployment RateUnderemployment RatePrime-Age Labor Force Participation RateSkilled Career 1Skilled Career 1 EmplSkilled Career 1 Avg Ann WagesSkilled Career 2Skilled Career 2 EmplSkilled Career 2 Avg Ann WagesSkilled Career 3Skilled Career 3 EmplSkilled Career 3 Avg Ann WagesSkilled Career 4Skilled Career 4 EmplSkilled Career 4 Avg Ann WagesSkilled Career 5Skilled Career 5 EmplSkilled Career 5 Avg Ann WagesSkilled Career 6Skilled Career 6 EmplSkilled Career 6 Avg Ann WagesSkilled Career 7Skilled Career 7 EmplSkilled Career 7 Avg Ann WagesSkilled Career 8Skilled Career 8 EmplSkilled Career 8 Avg Ann WagesSkilled Career 9Skilled Career 9 EmplSkilled Career 9 Avg Ann WagesSkilled Career 10Skilled Career 10 EmplSkilled Career 10 Avg Ann Wages

As a result of the COVID-19 pandemic, the Brazilian city of São Paulo lost nearly ** thousand tourism jobs in 2020 —the largest cut in this sector among cities in the country. Meanwhile, the city of Rio de Janeiro, one of the most popular touristic destinations in Brazil, recorded formal job losses of more than ** thousand positions that year. The hotel occupancy of major Brazilian cities also experienced strong declines that year.

Access the Data HereWhat is the COVID-19 Economic Vulnerability Index?The COVID-19 Vulnerability Index (CVI) is a measurement of the negative impact that the coronavirus (COVID-19) crisis can have on employment based upon a region's mix of industries. For example, accommodation and food services are projected to lose more jobs as a result of the coronavirus (in the neighborhood of 50%) compared with utilities and healthcare (with none or little expected job contraction).An average Vulnerability Index score is 100, representing the average job loss expected in the United States. Higher scores indicate the degree to which job losses may be greater — an index score of 200, for example, means the rate of job loss can be twice as large as the national average. Conversely, an index score of 50 would mean a possible job loss of half the national average. Regions heavily dependent on tourism with relatively high concentrations of leisure and hospitality jobs, for example, are likely to have high index scores. The Vulnerability Index only measures the impact potential related to the mix of industry employment. The index does not take into account variation due to a region’s rate of virus infection, nor does it factor in local government's policies in reaction to the virus. For more detail, please see this description.MethodologyThe index is based on a model of potential job losses due to the COVID-19 outbreak in the United States. Expected employment losses at the subsector level are based upon inputs which include primary research on expert testimony; news reports for key industries such as hotels, restaurants, retail, and transportation; preliminary release of unemployment claims; and the latest job postings data from Chmura's RTI database. The forecast model, based on conditions as of March 23, 2020, assumes employment in industries in each county/region would change at a similar rate as employment in national industries. The projection estimates that the United States could lose 15.0 million jobs due to COVID-19, with over half of the jobs lost in hotels, food services, and entertainment industries. Contact Chmura for further details.

What is the COVID-19 Economic Vulnerability Index?The COVID-19 Vulnerability Index (CVI) is a measurement of the negative impact that the coronavirus (COVID-19) crisis can have on employment based upon a region's mix of industries. For example, accommodation and food services are projected to lose more jobs as a result of the coronavirus (in the neighborhood of 50%) compared with utilities and healthcare (with none or little expected job contraction).This updated dataset contains 116 jobs attributes including the 10 most likely jobs to be impacted for each county, the total employment and employment by sector. An attribute list is included below.An average Vulnerability Index score is 100, representing the average job loss expected in the United States. Higher scores indicate the degree to which job losses may be greater — an index score of 200, for example, means the rate of job loss can be twice as large as the national average. Conversely, an index score of 50 would mean a possible job loss of half the national average. Regions heavily dependent on tourism with relatively high concentrations of leisure and hospitality jobs, for example, are likely to have high index scores. The Vulnerability Index only measures the impact potential related to the mix of industry employment. The index does not take into account variation due to a region’s rate of virus infection, nor does it factor in local government's policies in reaction to the virus. For more detail, please see this description.MethodologyThe index is based on a model of potential job losses due to the COVID-19 outbreak in the United States. Expected employment losses at the subsector level are based upon inputs which include primary research on expert testimony; news reports for key industries such as hotels, restaurants, retail, and transportation; preliminary release of unemployment claims; and the latest job postings data from Chmura's RTI database. The forecast model, based on conditions as of March 23, 2020, assumes employment in industries in each county/region would change at a similar rate as employment in national industries. The projection estimates that the United States could lose 15.0 million jobs due to COVID-19, with over half of the jobs lost in hotels, food services, and entertainment industries. Contact Chmura for further details.Attribute ListFIPSCounty NameStateTotal JobsWhite Collar JobsBlue Collar JobsService JobsWhite Collar %Blue Collar %Service %Government JobsGovernment %Primarily Self-Employed JobsPrimarily Self-Employed %Job Change, Last Ten YearsIndustry 1 NameIndustry 1 EmplIndustry 1 %Industry 2 NameIndustry 2 EmplIndustry 2 %Industry 3 NameIndustry 3 EmplIndustry 3 %Industry 4 NameIndustry 4 EmplIndustry 4 %Industry 5 NameIndustry 5 EmplIndustry 5 %Industry 6 NameIndustry 6 EmplIndustry 6 %Industry 7 NameIndustry 7 EmplIndustry 7 %Industry 8 NameIndustry 8 EmplIndustry 8 %Industry 9 NameIndustry 9 EmplIndustry 9 %Industry 10 NameIndustry 10 EmplIndustry 10 %All Other IndustriesAll Other Industries EmplAll Other Industies %Agriculture, Food & Natural Resources EmplArchitecture and Construction EmplArts, A/V Technology & Communications EmplBusiness, Management & Administration EmplEducation & Training EmplFinance EmplGovernment & Public Administration EmplHealth Science EmplHospitality & Tourism EmplHuman Services EmplInformation Technology EmplLaw, Public Safety, Corrections & Security EmplManufacturing EmplMarketing, Sales & Service EmplScience, Technology, Engineering & Mathematics EmplTransportation, Distribution & Logistics EmplAgriculture, Food & Natural Resources %Architecture and Construction %Arts, A/V Technology & Communications %Business, Management & Administration %Education & Training %Finance %Government & Public Administration %Health Science %Hospitality & Tourism %Human Services %Information Technology %Law, Public Safety, Corrections & Security %Manufacturing %Marketing, Sales & Service %Science, Technology, Engineering & Mathematics %Transportation, Distribution & Logistics %COVID-19 Vulnerability IndexAverage Wages per WorkerAvg Wages Growth, Last Ten YearsUnemployment RateUnderemployment RatePrime-Age Labor Force Participation RateSkilled Career 1Skilled Career 1 EmplSkilled Career 1 Avg Ann WagesSkilled Career 2Skilled Career 2 EmplSkilled Career 2 Avg Ann WagesSkilled Career 3Skilled Career 3 EmplSkilled Career 3 Avg Ann WagesSkilled Career 4Skilled Career 4 EmplSkilled Career 4 Avg Ann WagesSkilled Career 5Skilled Career 5 EmplSkilled Career 5 Avg Ann WagesSkilled Career 6Skilled Career 6 EmplSkilled Career 6 Avg Ann WagesSkilled Career 7Skilled Career 7 EmplSkilled Career 7 Avg Ann WagesSkilled Career 8Skilled Career 8 EmplSkilled Career 8 Avg Ann WagesSkilled Career 9Skilled Career 9 EmplSkilled Career 9 Avg Ann WagesSkilled Career 10Skilled Career 10 EmplSkilled Career 10 Avg Ann Wages

What is the COVID-19 Economic Vulnerability Index?The COVID-19 Vulnerability Index (CVI) is a measurement of the negative impact that the coronavirus (COVID-19) crisis can have on employment based upon a region's mix of industries. For example, accommodation and food services are projected to lose more jobs as a result of the coronavirus (in the neighborhood of 50%) compared with utilities and healthcare (with none or little expected job contraction).An average Vulnerability Index score is 100, representing the average job loss expected in the United States. Higher scores indicate the degree to which job losses may be greater — an index score of 200, for example, means the rate of job loss can be twice as large as the national average. Conversely, an index score of 50 would mean a possible job loss of half the national average. Regions heavily dependent on tourism with relatively high concentrations of leisure and hospitality jobs, for example, are likely to have high index scores. The Vulnerability Index only measures the impact potential related to the mix of industry employment. The index does not take into account variation due to a region’s rate of virus infection, nor does it factor in local government's policies in reaction to the virus. For more detail, please see this description.MethodologyThe index is based on a model of potential job losses due to the COVID-19 outbreak in the United States. Expected employment losses at the subsector level are based upon inputs which include primary research on expert testimony; news reports for key industries such as hotels, restaurants, retail, and transportation; preliminary release of unemployment claims; and the latest job postings data from Chmura's RTI database. The forecast model, based on conditions as of March 23, 2020, assumes employment in industries in each county/region would change at a similar rate as employment in national industries. The projection estimates that the United States could lose 15.0 million jobs due to COVID-19, with over half of the jobs lost in hotels, food services, and entertainment industries. Contact Chmura for further details.

In 2020, more sales representative positions were offered by Spanish employers than any other job title, closely followed by warehouse assistant and operator positions. Combined, these account for nearly one tenth of job offers that year. However, they also indicate different aspects of the country’s labor market demands.

The future of employment

Programmers and other IT-related professionals, which are already among the most demanded, are likely to become dominant in the future Spanish job market. Blockchain experts, machine learning specialists, chatbot designers and internet of things architects are among the most demanded professions of the future. Blockchain experts alone will encompass nearly seven percent of job offers in Spain. This is not surprising given the booming size of the blockchain technology market worldwide, a market which is expected to climb to over 39 billion U.S. dollars in size by 2025.

Coronavirus and the disruption of the job market

Spain was one of the economies most affected by the coronavirus (SARS-Cov-2) pandemic of 2020. According to the Bank of Spain, the country’s gross domestic product (GDP) contracted by between 10.7 and 11.6 percent as a result of the coronavirus. The economic havoc wreaked by the pandemic caused massive job losses, with unemployment soaring to 19 percent in 2020. In addition to reducing the number of jobs, the pandemic also shifted the job market's priorities. The most in-demand professions posted online during the lockdown were delivery person, teacher and insurance agent, along with different jobs related to the healthcare sector. As the economy recovers, the jobs offered will reflect recovery of the tourism and gastronomy jobs lost.

According to Cognitive Market Research, the global Outbound Tourism market size will be USD 17518.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 12.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 7007.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 5255.46 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 4029.19 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 875.91 million in 2024 and will grow at a compound annual growth rate (CAGR) of 11.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 350.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.
The Business is the fastest growing segment of the Outbound Tourism industry

Market Dynamics of Outbound Tourism Market

Key Drivers for Outbound Tourism Market

Increasing Economic Growth to Boost Market Growth

As nations experience monetary increases, growing disposable earnings offer individuals and families extra financial flexibility. This increase in wealth permits more people to interact in international travel, as they are able to come up with the money for flights, accommodations, and activities overseas. Enhanced financial conditions regularly lead to advanced infrastructure, better connectivity, and a much wider variety of journey alternatives, in addition to encouraging tourism. Additionally, as extra residents tour internationally, cultural trade will increase, fostering worldwide expertise and cooperation. Ultimately, the economic boom no longer best boosts journey opportunities; however additionally enriches tour enjoyment, making it more handy to a broader segment of the population.

Technological Advancements to Drive Market Growth

Technological advancements, mainly the upward push of the internet, have transformed travel-making plans right into a more accessible and fee-effective process. Online systems allow travelers to effortlessly compare flight costs, discover various lodging options, and find out about sports at their locations, all from the comfort of their homes. Booking engines and tour apps provide immediate get entry to deals and actual-time availability, empowering users to make informed choices. Additionally, social media and overview websites permit tourists to proportion stories and pointers, in addition to improving the decision-making technique. Overall, the internet has democratized travel planning, making it simpler for anybody to explore the sector.

Restraint Factor for the Outbound Tourism Market

Economic Downturns, will Limit Market Growth

During economic downturns, outbound tourism regularly studies a sizable decline as individuals and families reduce discretionary spending to control tighter budgets. With rising unemployment quotes and uncertainty about their destiny, travel will become a luxury many pick to forgo. People might also opt for home holidays or staycations in place of worldwide trips main to a lower call for flights, resorts, and travel offerings. Additionally, agencies may scale back on corporate travel, further impacting the tourism industry. This discount in outbound tourism could have a cascading impact on economies reliant on travel, leading to job losses and reduced revenues in the zone.

Impact of Covid-19 on the Outbound Tourism Market

The COVID-19 pandemic significantly impacted the outbound tourism marketplace, leading to unparalleled declines in global journeys. Lockdowns, tour regulations, and fitness issues led to flight cancellations and resort closures, inflicting a sharp drop in calls. Many tourists postponed or canceled trips, even as others shifted to nearby or domestic tourism. The industry faced tremendous revenue losses, mainly due to layoffs and financial challenges for airways, lodges, and excursion operators. Recovery has been sluggish, with ongoing uncertainty affecting consumer confidence in travel. Introduction of the Outbound Tourism Market

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According to Cognitive Market Research, the global Adventure Tourism market size is USD 286142.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 15.90% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 114456.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.1% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 85842.66 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 65812.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.9% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 14307.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.3% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 5722.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.6% from 2024 to 2031.
The Land Based Activity held the highest Adventure Tourism market revenue share in 2024.

Key Driver of the Adventure Tourism Market

Shifting Travel Preferences to Increase the Demand Globally

Travelers' tastes are moving toward unusual and genuine experiences, emphasizing adventurous pursuits that foster linkages to the environment and the local way of life. Travelers are turning away from mass tourism in favor of engaging, customized experiences. A greater focus is placed on personal development and well-being since adventure travel offers opportunities for pushing boundaries, self-discovery, and mental and physical difficulties. Travelers increasingly prioritize lifelong memories over tangible belongings when they go on immersive trips. People are becoming more eager to spend money on life-changing and enriching experiences, which in turn is driving demand for adventure travel.

Rising Socioeconomic Factors to Propel Market Growth

Adventure travel is fueled by socioeconomic variables such as increased disposable money and leisure time, which allow people to spend more on exploration and novel activities. Increasing digital accessibility via social media and online travel networks provides a forum for knowledge and inspiration, highlighting locations and daring experiences. Millennials and Gen Z prioritize adventure travel due to digital connectivity and a desire for cultural immersion. They influence travel trends toward individualized, immersive, and socially engaged experiences by seeking outdoor activities, distinctive cultural encounters, and social sharing opportunities. The tastes of this group have a major impact on the expansion of the adventure tourism and experiential travel industries.

Market Restraint of the Adventure Tourism Market

High Cost of Certain Activities to Limit the Sales

Due to their exorbitant cost, many travelers need help to afford adventure sports like deep-sea diving, heli-skiing, or expedition cruises. The costs of specialist gear, knowledgeable guides, and distant locales partly explain the hefty costs. Some people cannot afford these exhilarating experiences because of this financial barrier, especially those with tight budgets or little discretionary cash. Adventure travel has become exclusive, largely serving wealthy tourists who can pay exorbitant prices. This difference in accessibility highlights the socioeconomic gap in the adventure tourism sector and the need for programs to lower costs and increase accessibility for a wider variety of fans.

Impact of COVID-19 on the Adventure Tourism Market

The COVID-19 outbreak presented serious obstacles for the adventure travel industry. Global tourist activity has drastically decreased due to travel restrictions, border closures, and health concerns. Adventure locations that depended on foreign tourists were especially hard hit. Numerous companies that offered adventure tours had to close or scale back operations, which led to job losses and financial hardship. Consumer trust was further undermined by the uncertainty surrounding travel safety and the constantly changing regulations, which resulted in fewer reservations and revenue losses. Nonetheless, a gradual rebound in domestic adventure tourism was noted as immunization campaigns advanced and limitati...

As of April 7, 2020, it is estimated that roughly **** million people working in air travel related industries in the Asia Pacific region will lose their jobs due to the coronavirus outbreak. In the Middle East this number will be equivalent to under *********** unemployed people.

According to Cognitive Market Research, the global Coastal and Maritime Tourism Market size is USD 2984181.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.20% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1193672.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.
Europe represented more than 30% of the global revenue with a market size of USD 895254.36 million.
Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 686361.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2031.
Latin America market share for more than 5% of the global revenue with a market size of USD 149209.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Middle East and Africa held a market share of around 2% of the global revenue with a market size of USD 59683.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031. The cruise tourism segment had the largest share.

Market Dynamics of Coastal and Maritime Tourism Market

Key Drivers for Coastal and Maritime Tourism Market

Infrastructure Development and Investment to Increase the Demand Globally

Infrastructure development and investment in the Coastal and Maritime Tourism Market involves various endeavors geared towards enriching visitors' experiences while also fostering sustainable growth in tourism. This includes the construction and modernization of ports, marinas, waterfront promenades, cruise terminals, and recreational facilities along coastal areas. Additionally, investments in transportation networks, such as improved roadways, airports, and public transit systems, contribute to better accessibility to coastal destinations, facilitating tourism development and economic growth in these regions.

Environmental Sustainability and Eco-Tourism to Propel Market Growth

Environmental sustainability and eco-tourism are integral aspects of the Coastal and Maritime Tourism Market, reflecting a growing consciousness towards conservation and responsible travel practices. Eco-tourism initiatives prioritize the protection of coastal ecosystems, marine habitats, and wildlife, promoting activities such as nature tours, wildlife spotting, and eco-friendly accommodations. Sustainable tourism practices include waste reduction, energy efficiency, water conservation, and community engagement, fostering a harmonious balance between tourism development and environmental preservation along coastal and marine environments.

Restraint Factor for the Coastal and Maritime Tourism Market

Managing Seasonal Fluctuations in Coastal Tourism for Revenue Stability

This statement highlights the need to effectively manage seasonal fluctuations in coastal tourism to ensure stable revenue streams. Peak and off-peak periods bring varying tourist numbers, impacting businesses reliant on tourism. Strategies such as diversifying offerings, promoting shoulder seasons, and implementing targeted marketing campaigns can help utilize focused marketing initiatives to offset seasonal fluctuations, ensuring steady revenue streams and the continuous operation of business year-round.

Impact of Covid-19 on the Coastal and Maritime Tourism Market

The COVID-19 pandemic severely impacted the Coastal and Maritime Tourism Market, leading to widespread travel restrictions, cruise cancellations, and reduced tourist numbers. Coastal destinations experienced significant revenue losses, temporary closures of tourist attractions, and challenges in continuing operations while adhering to health and safety protocols has led to a decrease in tourism activity. Coastal destinations faced prolonged closures of beaches, hotels, and recreational facilities, resulting in substantial revenue losses and widespread job cuts in the tourism sector. Health and safety concerns, travel restrictions, and uncertainty further hindered tourism recovery, emphasizing the market's vulnerability to global crises. Introduction of the Coastal and Maritime Tourism Market

Coastal and maritime tourism involves travel and activities focused on coastal and marine environments, including beaches, islands, ports, and coastal communities. Market growth dynamics are driven by factors such as increas...

As of April, 2020, it is estimated that roughly 483,600 people working in air travel related industries in Germany will lose their jobs due to the coronavirus outbreak. The number of jobs at risk in the air transportation worldwide is expected to reach over 24 million.

As a result of the coronavirus (COVID-19) pandemic, the global travel and tourism market is predicted to see a loss of 100 million jobs worldwide in 2020. As a result, GDP generated by travel and tourism is predicted to decrease worldwide. The Asia Pacific region has the highest number of jobs at risk and therefore the highest potential loss of GDP at 1.04 trillion U.S. dollars.

The Philippines travel Insurance market was valued at USD 96.63 Million in 2024. The market is expected to grow at a CAGR of 19.80% during the forecast period of 2025-2034 to reach a value of USD 588.41 Million by 2034.

The Philippines travel Insurance market is witnessing a notable shift, moving beyond traditional coverage models toward data-driven, modular policies tailored for evolving traveller preferences. As international and domestic tourism rebound post-pandemic, there is an increasing demand for insurance products that reflect modern travel risks, ranging from health emergencies to cyber threats and trip cancellations. According to the Department of Tourism, international arrivals reached over 5.4 million in 2023, a strong rebound that is encouraging insurers to partner with airlines and OTAs (Online Travel Agencies) to offer embedded insurance solutions. Moreover, the Philippine Insurers and Reinsurers Association (PIRA) has been actively collaborating with the Insurance Commission to draft digital-first regulatory frameworks.

Moreover, the launch of AI-powered microinsurance platforms in collaboration with local fintech players like UBX and GCash, allowing real-time underwriting for low-premium policies, has been one standout development in the Philippines travel Insurance market. These systems use behavioural data and risk modelling to customise premiums. Start-ups are also deploying blockchain to fast-track claims processing, especially for flight delays or baggage loss.

Furthermore, the ASEAN Travel Corridor Arrangement Framework, designed to ease business and essential travel across Southeast Asia is reshaping the Philippines travel insurance market dynamics. By promoting greater regional mobility, it is driving demand for cross-border coverage and tailored insurance products. This, combined with the rise in overseas Filipino workers (OFWs), reaching over 2.16 million in 2023, has created steady demand for outbound insurance with broader medical and legal coverage. Insurers like Sun Life and Paramount Life now offer tailored policies for OFWs, including coverage for job loss and health emergencies.

Introduction

Hotel Industry Statistics: The hotel industry is a rapidly growing sector with many different categories that involve lodging, food and beverages, recreation, and entertainment, which are continuously developing. During the COVID-19 pandemic, all the travelers stayed at their own houses and did not travel anywhere.

However, unexpectedly, the hotel and tourism industry recovered the losses within two years after the ban on travel restrictions. Because of the profuse amount of information available today, it has become an evolving challenge for the market players to collect all the essential hotel industry statistics to be up to date with the current trends. Let's examine some of the essential facts and figures of the hotel industry.

The tourism sector in Brazil generated ****** new jobs in 2019, nearly triple the amount of positions generated in the previous year. In both years, the accommodation and food service segment contributed with the largest number of new jobs in the sector, while the passenger transport accounted for over * thousand job losses in 2018, and **** thousand in 2019.