Eleven. Trillion. Dollars.

Hi there,

We've had to make some adjustments, but the date is now set for our annual event, the FutureTravel Summit, which will take place on November 28th in Barcelona. I can’t wait!

Expect a mix of startup pitches, keynotes, panel discussions, and pleeeenty of networking opportunities. For those who have been asking - hang tight: speaker applications open next month. As always, we're ready to shine a spotlight on the innovators shaping the future of travel. :)

And now - here's your weekly roundup of the latest trends, innovations, and startup news in travel.

• Eleven. Trillion. Dollars. In 2024, the travel industry is set to hit a record high with $11 trillion in earnings, and it's expected to soar to $16 trillion by 2034, making up 11.4% of the global GDP. Let me just say this: huuuuge market potential, but the sector remains quite segmented and complex. This highlights plenty of untapped opportunities, especially given how strongly the travel industry has bounced back since the pandemic, as the World Travel & Tourism Council points out.

• Temporary cap on tourist numbers? Last week we opened the discussion about overtourism, which makes this update from Tenerife particularly timely. In Spain, thousands have taken to the streets demanding a temporary freeze on tourist numbers, arguing that the current model is too costly for locals and damaging to the environment. They are calling for restrictions on short-term rentals and new hotel constructions, backed by several environmental groups. As a major tourist hub, the Canaries are experiencing tensions as tourism both boosts the local economy and strains resources, leading to higher living costs.

• Making travel smoother for the wallet. Klarna and Expedia Group are expanding their global partnership and taking it to the US. Together, they're rolling out flexible payment options like 'Pay Now' or 'Pay in 4' on Expedia.com and Hotels.com, following their successful launches in Europe. The goal is to make travel more accessible and smooth out the booking process. It's coming at a great time too, as the US travel market looks set to bounce back big in 2024, with projections hitting nearly $200 billion.

• Merging for bigger things. Campanyon is buying its Danish rival Owayy, and together, they’re set to become the main name in nature-focused travel across Scandinavia. This move brings Owayy’s properties under Campanyon’s roof, hugely expanding their reach. The founders of Owayy will stay on to help with the leadership at Campanyon, aiming to lead the European market in unique outdoor stays.

• No new hotels in Amsterdam. The Dutch capital is stepping up its game to handle overtourism by putting a stop to most new hotel projects and setting a yearly cap on overnight stays at 20 million (which is less than they had last year). Amsterdam is encouraging hotel development to be more sustainable and ideally, located outside the city core. Along with this, they’ve bumped up the tourist tax to 12.5%.

I mentioned earlier this week that I’ve been busy prepping for the EU-Startups annual flagship event, happening in Malta on May 9-10. Just a heads up: these are the final days to get your ticket for the EU-Startups Summit. Tic-tac, time to act. It would be fantastic to see a strong turnout from travel startups at the event - let me know if you’re joining!

See you next week,
Ana

Thank you for reading until the end.

The content of this newsletter is curated and published by Ana Metz, an innovation expert, passionate about technology and excited about the future of travel.

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