The worldwide travel industry fears that the rising cost of living will have a greater effect on their business in 2023 than COVID, according to the WTM Industry Report 2022.

Among travel decision-makers who took part in research for the report, only 5% said increased COVID rates would most likely affect their business negatively in 2023.

The cost of living is instead deemed the most likely factor to negatively affect businesses next year, according to 45% of respondents – who include members of the WTM Buyers’ Club, WTM exhibitors, and travel trade visitors to WTM.

The rising price of petrol (13%), ongoing war in Ukraine (12%) and soaring energy prices (10%) are all more of a concern among industry executives than predicted COVID rates.

Only 4% of respondents said they feared a repeat of the 2022 chaos at airports would most likely negatively affect their business next year; 2% said climate change, another 2% said Brexit, and just 1% said enhanced border checks would negatively affect business.

In mid-September, US President Joe Biden declared the COVID-19 pandemic was over – but the statement was met with largescale criticism and called premature. 

Recently, United Nations World Health Organization DG, Tedros Adhanom Ghebreyesus said: “We have never been in a better position to end the pandemic,” but added that the world is simply “not there yet”. 

“The global travel and tourism industry was thriving before the COVID pandemic, recording 10 years of continuous growth, according to UNWTO data,” said World Travel Market London Exhibition Director, Juliette Losardo.

“After more than two years of challenging trading conditions, it’s pleasing to see the senior buyers, exhibitors and visitors who took part in our research, showing real optimism that the dark days of the COVID pandemic are behind them.”