Subscribe Now

travelers today

Home » Video

According To Visa, Middle Class Families To Take Most International Holidays By 2025

Travelers Today       By    Mary Ann Tennyson

Updated: Nov 18, 2016 06:32 AM EST

Text Size: A A A

If people think that the tourism industry is pretty much at its peak at the moment, with travel already in such a boom, it seems as though that things will only continue to get better. Come 2025, middle income families or those that are in the middle class will take the most number of international holidays according to global financial company, Visa.

Richard Lung, an international economist and Visa's senior director spoke recently for the company's Travel & Payment Trends Seminar which was held in Dubai. There he pinpointed three key global trends which will greatly influence the travel industry in the coming decade. Namely: one, a new breed of "travelling class"; two, rising digital connectivity and third, a population that is reaching its maturity.

According to a report by Khaleej Times, "By 2025, annual spending on global cross-border travel will reach $1.5 trillion from $1.1 trillion currently, with growth driven by an increasing number of middle income families, according to Visa's 'Mapping the Future of Global Travel and Tourism' study." Therefore, it means that those households which earn $20,000 and above every year are responsible for almost 90 percent of all international travel. More than 37 million households found in the Mena Region will likely fall under this classification by the time 2025 rolls in and about 40 percent of this new class of travelers will end up taking a minimum of one international trip annually, according to an estimate by Visa. 

The global financial company also estimated that the Mena region will also garner an increase of annual outbound trips from only 42 million this year to a whopping 65 million in 2026. In turn, this may also cause an increase in the regional outbound travel spent annually by 3.6 percent; from only $77 billion to $110 billion by 2025, two thirds of its rate increase can be attributed to the middle class.

Aside from paying more, travelers will also be better informed with their travels because they will be digitally connected entirely. With so much information available about where to go and what flights to book as well as various options for accommodations, this will promote spontaneity in tourists from the Mena region, as well as show a variety in personalized travel along with other options for tourism.

The young population in Mena region will also counteract the impact of a global population that is on its way to maturity which is the third key trend. According to Visa, places like Dubai and Abu Dhabi which are famous for medical tourism and healthcare infrastructure could benefit greatly from this since the demographic is much focused on obtaining health and comfort as opposed to saving money. Also, Visa believes that "medical tourism is primed for accelerated growth as older travelers seek new treatments, as well as lower-cost or higher-quality care not available in their home country."

Lung also said that, "Global tourism finds itself at a crossroads, with three key mega trends all pointing towards an era of transformation. The Mena region is not isolated from these forces, and is set to gain more than most, given the extent of its growing middle class. The next decade will be one of significant change for the travel and tourism industry and all participants need to start planning for an exciting new future now." 


from Indian Chor Bazaar: Top 21 Foreign Trips, Middle Class Indian Can Afford

See Now: The U.S. had the highest number of Most Wanted properties, dominating the Hotels.com Loved By Guests Awards 2018

Tags
visa, middle east, North Africa
© 2023 Traverlers Today, All rights reserved. Do not reproduce without permission.
Join Our Conversation

Subscribe to our newsletter

Receive the latest travel news, reviews, and more..

Most Popular

6 Tips For Traveling With Young Children

6 Tips For Traveling With Young Children

Planning for a trip takes some time, even if it's just you g

How Traveling Can Make You Happy

How Traveling Can Make You Happy

If you have never traveled before but are thinking of doing so then

Scottish Islands: The Best Places to Reside!

Scottish Islands: The Best Places to Reside!

So there are a few islands that can be found off the Sco

How to Plan a Multi-Destination Honeymoon During COVID

How to Plan a Multi-Destination Honeymoon During COVID

You need to know how to plan appropriately and

7 Tips for Amazing Campus Visits

7 Tips for Amazing Campus Visits

A campus visit's significance could not be overstated. After all, fo

4 Tips For Curating The Perfect Gallery Wall

4 Tips For Curating The Perfect Gallery Wall

Having a gallery wall brings plenty of benefits to your

Water Travel Options That Don’t Involve a Cruise

Water Travel Options That Don’t Involve a Cruise

There is something equally relaxing and invigorati

Photo by Erik Odiin on Unsplash

Things That Will Help Cost-Conscious Vacationers Save Money

There are several ways you can significan

Photo by Mikhail Nilov from Pexels

How to Make Vet Visits Affordable in 2022

If the situation is minor, you might be lucky and get away

Photo by Tim Samuel from Pexels

Know Your Florida Driving Rules

There is so much to do in the region, but we want to focus on some of

Photo by Ging Ang from Pexels

Holidaying in your own Country: Try these Fun Trips!

Many countries are opening their borders, but if

Photo by Jessica Lewis Creative from Pexels

The Best Tech Tools for Expats

Here’s a quick look at most versatile tech tools for expats on the m

Photo by Tobi from Pexels

How to Turn a Road Trip Into A Luxury Adventure

But a road trip doesn’t have to mean living on the

Australian Citizenship Test: Everything You Need to Know

Australian Citizenship Test: Everything You Need to Know

Do you want to become a citizen of Australia

Hair transplant Istanbul: Why is it so popular?

Hair Transplant Istanbul: Why is it so Popular?

Getting a hair transplant in Istanbul is affordable i

What’s Going on with Rental Cars Right Now?

What’s Going on with Rental Cars Right Now?

They are incredibly expensive, and they’re also in sh

Role of Professional companies in International Trade

Role of Professional companies in International Trade

International trade holds great importance in a

The 5 Best Wines from Germany

The 5 Best Wines from Germany

Riesling is Germany’s best-known wine, but the country makes other fi

Here's Why You Should Go Camping On Weekends

Here's Why You Should Go Camping On Weekends

There is nothing like the great outdoors –– nature

The Best Tote Bags To Travel With in 2022

The Best Tote Bags To Travel With in 2022

Who knew you could pack your entire life away into one litt

7 Captivating Attractions for Kids in San Diego

7 Captivating Attractions for Kids in San Diego

San Diego is a magnificent place, and it would not be

travelers today

© 2023 TRAVELERS TODAY All rights reserved.

Subscribe to our newsletter
Real Time Analytics