Cities are increasingly leveraging sports to demonstrate socioeconomic power on the world stage. Yet becoming a global powerhouse for professional sports is easier said than done. It requires an all-encompassing approach which considers structural, cultural and socioeconomic aspects such as ample investment in infrastructure, a robust domestic sports environment and a sizeable population.
The ability to add leisure to a business trip – bleisure – has traditionally been an important growth opportunity in hospitality. Now, years since the pandemic first impacted travel, corporate business working policies have changed dramatically. Tighter travel budgets and new communication technologies have diminished the need to travel for work, even as the individual interest in travelling remains. A new host of flexible working models have emerged, and hospitality players are adapting.
Global foodservice transactions continue to recover in 2022 from the strong decline of 2020. In this article we show the reasons for the recovery, such as the desire to enjoy life and the rise of ordering food for home delivery, and what can packaged food companies do in light of the recovery of foodservice.
In 2023, new light vehicle sales are forecast to fall by 7.0% as the global economic slowdown curbs consumer spending on big items such as new cars. Yet the year will continue to be an inflection point for the automotive and mobility industries, shaped by rising sustainability pressures, technological progress and changing consumer preferences.
Using Euromonitor International’s Voice of the Consumer: Travel Survey, we dig deep into traveller segmentation to understand key motivations and preferences across gender, race and income.
The professional sports industry will see the continuation and evolution of opposing forces following a year in which disruption, a sometimes-overused term is finally living up to its billing. The rise of novelty formats, the shifting goalposts of commercial partnerships, and the emergence of deeper immersion within virtual and augmented reality environments for fans will permeate throughout the industry in 2023.
China is a critical market for global travel. In 2019, outbound Chinese travellers spent more than USD133 billion, the second highest amount globally. A major obstacle to the global travel industry’s recovery from the pandemic has finally been removed. On 8 January 2023, China eliminated most travel restrictions following the end of its ‘zero-COVID’ policy. Read on to find out more.
Euromonitor projects total card payment value will increase by USD18 trillion over the next five years with the growth nearly evenly split between credit and debit cards. Cash reached the lowest rate in 2022 as a portion of consumer payment value at 22% as consumers turn to electronic and card alternatives.