The post-pandemic recovery in travel and tourism still has some way to go in parts of the world that have been slower to lift restrictions, such as in Asia. And China’s reluctance to move away from its zero-COVID approach means tourism for leisure purposes will not recover to pre-pandemic levels globally until the middle of this decade. Further ahead, slower income growth and mounting demographic headwinds, particularly in DMs, mean the sector is unlikely to grow as quickly as in the past.
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