MasterCard publishes the Travel Industry Trends study for 2023 with insights into the world of tourism in the post-corona era. The study is based on the consumption data of tourists around the world and is divided into two categories – entertainment (and experiences) and shopping.

According to the study, the amount of commercial flight bookings increased by 42% in comparison between March 2023 and March 2022, when the rate of booking vacations and business trips climbed by the same rate of 25% in 2023 compared to 2022. That is, the amount of tourists increased and with them the amount of expenses. The study examines tourists’ spending in the entertainment and shopping categories.

Examining the expenses of tourists who visited Israel, spending on entertainment and experiences climbed in March 2023 at a rate of 65.1% compared to March 2022. In the first quarter of 2023, spending by tourists on experiences climbed by 3.3%, compared to the first quarter of last year.

Examining shopping expenses in Israel – in March 2023, tourist expenses increased by 38% compared to March 2022. In the first quarter of 2023, an increase of 8.1% was recorded in this segment compared to the corresponding quarter in 2022.

The increase in shopping between March 2023 and March 2022 shows signs of recovery, however, comparing the first quarter of 2023 in the shopping category with the corresponding period in 2022, declines were recorded in most countries. In Germany, for example, there was a decrease of 14.9%, so also in Italy -2.1%. In Spain, on the other hand, an increase of 0.7% was recorded. Decreases were also recorded in South and Central America, for example in Brazil there was a decrease of -7.1%, Mexico -2.9%. A decrease of -8.8% was also recorded in the United States, as well as in Canada -14.8%. In Israel, an increase of 8.1% was recorded, similar to the countries of Asia and the Pacific.

In Israel, as mentioned, there was an increase both in spending on entertainment in comparison between March 2023 and March 2022 at a rate of 65%, and in spending on shopping, at a rate of 38.2%.

Photo credit Guy Yechieli