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Travel Sector Will See Its Best Year Since 2019, Experts Say

There’s even more interest in international travel than in domestic travel, so look out, Mykonos, Venice, Amsterdam and Paris. The Americans are coming back.

According to a report by CNBC, “The World Travel & Tourism Council says the global travel and tourism sector won’t fully recover this year—but it will get close. The sector is forecast to reach $9.5 trillion in 2023, just 5% shy of its gross domestic product contribution in 2019.” CNBC cited WTTC’s 2023 Economic Impact Research, which noted that 2019 marked the high-water mark for the travel and tourism industry.

Other topline findings:

  • The U.S. and the Dominican Republic are turbo-charging the travel industry.
  • Europeans and Brazilians are especially interested in travel, which could benefit South Florida, a magnet for those travelers.
  • Bleisure and workations are rising.
  • Travelers are returning to big cities, so Miamians heading to New York could see price spikes.
  • Instead of canceling plans, travelers are opting to tighten their travel budgets.
  • International travel’s gain may be domestic travel’s loss.

Mykonos, Greece: Photo by Drew Limsky

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.