LONDON: Last year’s World Travel Market in London will have generated a record £3.4 billion in travel and tourism industry deals, according to organisers Reed Travel Events.The figure surpasses the £3.1 billion from World Travel Market London in 2017.
The global travel and tourism industry continues to grow with more than 1.4 billion trips predicted to taking place globally in 2019, with the number predicted to rise to £1.8 billion by 2030.
Inbound tourism to the UK is approaching 40 million trips annually, while Brits make almost 73 million outbound trips each year.
World Travel Market London reflected this growth with an increase in visitors of more than four per cent to a record 32,462, with the event seeing a total of almost 89,000 visits from 51,409 participants. In total 4,664 exhibitors from 182 countries and regions took part in the event.
Independent research of WTM London’s exhibitors reveals World Travel Market London will generate a massive £3,353,042,708 in travel industry deals, either through contracts signed at the event or from negotiations with WTM Buyers’ Club members – the buyers with the greatest purchasing responsibility in the travel industry – which will lead to deals signed before World Travel Market London later this year.
World Travel Market London, senior director, Simon Press, said: “I am delighted with the record amount of business conducted at World Travel Market London 2018.
“This success firmly positions World Travel Market London as the event where ideas arrive and a must-attend for national and regional tourist boards, global brands, luxury and technology companies.
“The record visitor numbers at WTM London 2018 alongside the £3.4 billion in business generated shows that World Travel Market London – as it approaches its 40th event in 2019 – and the travel and tourism industry are both in good health.