April 22, 2024 12:58 am
Growth Stabilizes with Asia Pacific Leading the Way

In February 2024, the travel industry experienced a 7% year-on-year increase, indicating a positive trend towards stability after a period of double-digit growth. The Skift Travel Health Index stood at 107 for the month, showing a stabilization trend in the industry.

Asia Pacific led the way in growth levels, with an impressive 13% increase compared to the previous year. This region has been on an upward trajectory since early 2023, with China reopening its borders for travel playing a significant role in boosting growth. Despite slight decreases in growth numbers compared to previous months, there is still strong performance in the Asia Pacific region.

Looking at the Skift Travel Health Index Score by Region, we see that Asia Pacific had the highest score in February 2024, followed by Europe and Latin America. The data shows that the vacation rental sector experienced significant growth during the pandemic but is now showing signs of deceleration. However, demand for vacation rentals remains above pre-pandemic levels.

Overall, these findings suggest that despite some slowdowns, there are still positive signs of stability and continued growth in various regions of the travel industry. For more insights and details on this topic, you can read the February 2024 Highlights and visit our Travel Health Index dashboard.

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