ITB Berlin, the world’s largest tourism trade fair, took place from March 5th to 7th, attracting an estimated 24,000 visitors. One of the highlights of the trade was Saudi Arabia celebrating 100 million tourists in 2023. The country has recently recognized the importance of leisure tourism and has shifted its focus to leisure tourism.
The tourism industry has a significant economic impact on the global economy, accounting for 9.2% of the world’s GDP in 2023. Some countries, like Macao, are highly dependent on tourism, with more than half of their GDP coming from it.
The global travel technology industry is closely related to the tourism industry. IMARC Group estimates that the industry will be worth $10 billion in 2023, and from 2024 he predicts a compound annual growth rate (CAGR) of 6.4% until 2032. By the end of this period, the value of the global travel technology industry is expected to reach 17.8%. Billions of US dollars.
Although the travel industry has faced challenges due to the pandemic, it is on the road to recovery. Export revenues from international tourism fell by 62% in 2020 due to travel restrictions imposed to curb the spread of the coronavirus. Tourist overnight stays in 2020 decreased by 50% compared to 2019. Furthermore, the share of overall travel and tourism in GDP increased from 10.4% in 2019 to 7.6% in 2020. However, it is expected to recover to 9.2% in 2023 and reach 11.6% by 2033.
Look at the top 15 Low-cost countries for family travel.
15 – South Africa
Cost of a week’s trip for 2 people – $1,214
South Africa, number 15 on our list of 30 cheapest countries to visit as a family, will host more than 2.5 million overnight stays in 2021 We welcomed guests. The murder of a British tourist had a negative impact on the country’s popularity.
14 – Romania
Travel cost for 2 people for 1 week – $1,165
Romania is one of her most affordable travel destinations. The cost of living in this country is 64% lower than in the United States. It ranks 31st in the list of most popular countries and is also a popular tourist destination.
13 – Hungary
Travel cost for 2 people for 1 week – $1,156
Hungary is one of the most popular travel destinations. In 2019, it attracted 15.9 million international travelers. The country is known for its hot springs and is visited by millions of tourists each year.
12 – Thailand
Cost of a week-long trip for two people – $1,150
Thailand is one of the 25 most popular countries in the world. Tourists spent a total of more than $5.2 billion in the country in 2021.
11 – Panama
Travel cost for 2 people for 1 week – $1,101
Panama ranks 11th on our list of 30 cheapest countries to visit as a family. 50% cheaper than the US.
10 – Albania
Travel cost for 2 people for 1 week – $1,093
Albania is one of the top 10 cheapest countries to visit as a family. Tourists visiting Albania spent a total of more than $2.4 billion in 2021, so it is also included in the list of the 50 most popular countries.
9 – Bulgaria
Travel cost for 2 people for 1 week – $968
Bulgaria recorded 2.3 million overnight guests in 2021, making it one of the most popular countries in the world. It is also an affordable destination as she is the 11th cheapest country in Europe in terms of cost of living.
8 – Morocco
Travel cost for 2 people for 1 week – $ 935
Morocco is one of her most affordable travel destinations. It ranks 14th on the list of 20 countries with the lowest cost of living for U.S. citizens and 28th on the list of most popular countries.
7 – Russia
Cost of a week-long trip for two – $909
Russia is number 7 on our list of 30 cheapest countries to visit as a family. It also ranks 22nd on the list of most popular countries.
6 – Poland
Cost of a week’s trip for two people – $905
Poland is becoming a developed economy and will likely attract many tourists in the future. In 2022, the number of visitors to this country will exceed 9.7 million people.
5 – Ethiopia
Travel cost for 2 people for 1 week – $798
Ethiopia is in the top 5 cheapest countries to visit as a family. But the country’s civil war could jeopardize the influx of tourists.
4 – Colombia
Travel cost for 2 people for 1 week – $635
Colombia is number 4 on the list of the top 30 cheapest countries to visit as a family. According to LivingCost, it’s 70% cheaper than in the US.
3 – Serbia
Travel cost for 2 people for 1 week – $556
Serbia is in the top 3 cheapest countries to visit as a family. It is also included in the list of most popular countries.
2 – India
Her week’s travel cost for 2 people – $ 548
India is number 20 on the list of most popular countries. Additionally, she ranks second on the list of countries with the lowest cost of living for U.S. citizens. In 2021, the country welcomed more than 6.9 million overnight guests.
1 – Egypt
Travel cost for 2 people for 1 week – $240
Egypt tops the list of 30 cheapest countries to visit as a family. It also ranks high on the list of countries with the lowest cost of living for U.S. citizens.