વર્લ્ડ ટ્રાવેલ એન્ડ ટુરિઝમ કાઉન્સિલના જણાવ્યા અનુસાર અમેરિકા વિશ્વનું ટોચનું ટ્રાવેલ અને ટુરિઝમ માર્કેટ રહે છે, જે અર્થતંત્રમાં રેકોર્ડ $2.36 ટ્રિલિયનનું યોગદાન આપે છે. આંતરરાષ્ટ્રીય ખર્ચમાં ધીમા નવસંચાર છતાં અમેરિકા તેના નજીકના હરીફ કરતાં લગભગ બમણું આર્થિક યોગદાન ધરાવે છે.
કાઉન્સિલના 2024 ઇકોનોમિક ઇમ્પેક્ટ ટ્રેન્ડ્સ રિપોર્ટમાં જાણવા મળ્યું છે કે વિશ્વભરમાં લાખો નોકરીઓને ટેકો આપતા પ્રવાસ અને પર્યટન ઘણી અર્થવ્યવસ્થાઓ માટે મહત્વપૂર્ણ છે.
WTTCના પ્રેસિડેન્ટ અને CEO જુલિયા સિમ્પસને જણાવ્યું હતું કે, "જેમ કે અમે રેકોર્ડબ્રેક 2024ની રાહ જોઈ રહ્યા છીએ, તે સ્પષ્ટ છે કે મુસાફરી અને પર્યટન માત્ર પાટા પર જ નહીં પરંતુ અભૂતપૂર્વ વૃદ્ધિ હાંસલ કરવા માટે પણ તૈયાર છે." “અમે ટકાઉપણું અને સર્વસમાવેશકતાને પ્રાધાન્ય આપવાનું ચાલુ રાખીશું, એ સુનિશ્ચિત કરીને કે આ વૃદ્ધિ દરેકને લાભ આપે અને ભવિષ્યની પેઢીઓ માટે આપણા ગ્રહનું રક્ષણ કરે. ક્ષેત્રની સ્થિતિસ્થાપકતા અને નવીનતાની સંભાવના અમને આગળ ધપાવવાનું ચાલુ રાખે છે.”
રિપોર્ટમાં ચીનને વિશ્વના બીજા સૌથી મોટા પર્યટન બજાર તરીકે ઓળખવામાં આવ્યું છે, જેણે 2023માં જીડીપીમાં $1.3 ટ્રિલિયનનું યોગદાન આપ્યું છે, જે વિલંબિત સરહદ ફરીથી ખોલવા છતાં તેના મજબૂત નવસંચારનું પ્રદર્શન કરે છે. જર્મની $487.6 બિલિયનના આર્થિક યોગદાન સાથે ત્રીજા ક્રમે છે, જ્યારે જાપાન $297 બિલિયન સાથે પાંચમાથી ચોથા સ્થાને છે.
WTTCએ જણાવ્યું હતું કે, U.K $295.2 બિલિયનના યોગદાન સાથે ટોચના પાંચમાં સ્થાન મેળવે છે. ફ્રાન્સ, વિશ્વનું સૌથી લોકપ્રિય સ્થળ, $264.7 બિલિયનના યોગદાન સાથે છઠ્ઠું સ્થાન ધરાવે છે, ત્યારબાદ મેક્સિકો $261.6 બિલિયન સાથે તેના મજબૂત પ્રવાસી આકર્ષણનું પ્રતિબિંબ પાડે છે.
ભારત 231.6 બિલિયન ડોલરનું યોગદાન આપીને દસમા સ્થાનેથી આઠમા સ્થાને પહોંચી ગયું છે, જે નોંધપાત્ર સુધારો અને વધતા પ્રભાવને દર્શાવે છે. ઇટાલી અને સ્પેને અનુક્રમે $231.3 બિલિયન અને $227.9 બિલિયનના યોગદાન સાથે ટોચના 10માં સ્થાન મેળવ્યું.
ટ્રાવેલ માર્કેટમાં ચીન અગ્રેસર રહેશે
WTTC આગાહી કરે છે કે આગામી દાયકામાં, ચીન અન્ય તમામને પાછળ છોડીને સૌથી મોટું ટ્રાવેલ અને ટુરિઝમ માર્કેટ બની જશે, જ્યારે ભારત ચોથા સ્થાને પહોંચી જશે. આ પરિવર્તનો વૈશ્વિક પ્રવાસ અને પ્રવાસન ક્ષેત્રની ગતિશીલ પ્રકૃતિને પ્રકાશિત કરે છે, જેમાં ઊભરતાં બજારો જમીન મેળવી રહ્યા છે અને પરંપરાગત પાવરહાઉસ તેમની સ્થિતિ જાળવી રાખે છે.
અહેવાલમાં પ્રવાસ અને પ્રવાસન જીડીપી યોગદાનમાં સૌથી વધુ વાર્ષિક વૃદ્ધિ દર ધરાવતા દેશોની પણ નોંધ લેવામાં આવી છે. 2023માં, ચીનના ક્ષેત્રમાં વાર્ષિક ધોરણે 135.8 ટકાની નોંધપાત્ર વૃદ્ધિ જોવા મળી હતી, જ્યારે હોંગકોંગ એસએઆર, મલેશિયા અને ફિલિપાઇન્સ સહિતના અન્ય એશિયન દેશોએ મુસાફરી પરના પ્રતિબંધો હટાવ્યા પછી ટુરિઝમ મોરચે ત્યાં સ્થિતિ પૂર્વવત્ થઈ ગઈ હતી.
વૈશ્વિક સ્તરે, આંતરરાષ્ટ્રીય મુલાકાતીઓનો ખર્ચ લગભગ 16 ટકા વધીને $1.9 ટ્રિલિયન થવાની ધારણા છે, અહેવાલમાં જણાવાયું છે. દરમિયાન, સ્થાનિક પ્રવાસન ખર્ચ $5.4 ટ્રિલિયન સુધી પહોંચવાનો અંદાજ છે, જે 2019ના સ્તરો કરતાં 10.3 ટકાનો વધારો દર્શાવે છે.
પ્રવાસ અને પર્યટન રોકાણ 2023 માં 13 ટકા વધીને $1 ટ્રિલિયનને વટાવી ગયું છે, જેમાં 2025 સુધીમાં રોગચાળાના પૂર્વેના સ્તરે પાછા આવવાની અપેક્ષા છે. જો કે, ઊંચા વૈશ્વિક વ્યાજ દરો ભવિષ્યના રોકાણ માટે પડકારો પેદા કરી શકે છે. WTTC એ આ મહત્વપૂર્ણ ક્ષેત્રને મજબૂત બનાવવા માટે જાહેર અને ખાનગી ક્ષેત્રો વચ્ચે સહયોગ અને નવીનતાની જરૂરિયાત પર ભાર મૂક્યો હતો.
અહેવાલમાં ગ્રીનહાઉસ ગેસના ઉત્સર્જનથી વૃદ્ધિના વિસ્તરણ અને મહિલાઓ, યુવાનો અને હાંસિયામાં ધકેલાઈ ગયેલા સમુદાયો માટે તકો વિસ્તરીને દર્શાવતા, ટકાઉપણું માટે ક્ષેત્રની પ્રતિબદ્ધતાને પણ પ્રકાશિત કરવામાં આવી છે. તકનીકી પ્રગતિ, ખાસ કરીને AI માં, મુસાફરીના અનુભવને વધુ વધારશે અને ભાવિ વૃદ્ધિને આગળ વધારશે તેવી અપેક્ષા છે.
એપ્રિલમાં, WTTC એ અનુમાન કર્યું હતું કે પ્રવાસ અને પ્રવાસન ક્ષેત્ર 2024 માં યુએસ અર્થતંત્રમાં $2.5 ટ્રિલિયનથી વધુનું યોગદાન આપશે, જે કુલના લગભગ 9 ટકા હિસ્સો ધરાવે છે, અને દેશભરમાં આશરે 18.8 મિલિયન લોકોને રોજગારી આપશે, અથવા નવ અમેરિકન કામદારોમાંથી એક કામદારને રોજગારી આપશે.
House introduces AFA to boost franchise model and hotel operations.
The act establishes a joint employer standard.
AHLA backs the bill, urging swift adoption.
THE HOUSE Of Representatives introduced the American Franchise Act, aimed at supporting the U.S. franchising sector, including 36,000 franchised hotels and 3 million workers nationwide. The American Hotel & Lodging Association, backed the bill, urging swift adoption to boost the franchise model and clarify joint employer standards.
The AFA amends the Fair Labor Standards Act and the National Labor Relations Act, which since 2015 have created uncertainty for franchisors and franchisees, AHLA said in a statement.
Rep. Kevin Hern (R-Oklahoma) and Don Davis (D-North Carolina) introduced the AFA.
“Hotel franchising is a pathway to the American Dream for many entrepreneurs,” said Rosanna Maietta, AHLA president and CEO. “It is a proven win-win business model that enables partnerships between franchisees and franchisors. The American Franchise Act codifies a clear joint employer definition and is essential to protecting this framework.”
AFA aims to protect the franchise model, which has long enabled women and minority entrepreneurs to run their own businesses with support from larger brands, the statement said. It will clarify the employment relationship by establishing a joint employer standard that protects workers and preserves franchisee autonomy.
Mitch Patel, AHLA board chair and Vision Hospitality Group CEO, said that as a hotel franchisee, he has seen how the model enabled him and others to achieve the American Dream.
“Throughout my career, my hotel business has employed thousands of people who have built lifelong careers in our industry,” he said. “The American Franchise Act is essential to preserving this foundation. For the benefit of both employers and employees, we strongly encourage the swift passage of this critical legislation.”
"As one of the few franchisees in Congress, I understand how damaging an ever-changing joint-employer rule is to the franchise business model,” said Hern. “I'm pleased that we were able to come together in a bipartisan effort to create legislation that safeguards small businesses and individuals working to achieve the American Dream across the country."
Davis said changes to joint-employer rules have created prolonged uncertainty in the industry.
“The American Franchise Act aims to restore stability by clarifying that franchisors and franchisees operate as independent employers while safeguarding workers through established labor standards,” he said.
Separately, a petition for a referendum on Los Angeles’s “Olympic Wage” ordinance, which sets a $30 minimum wage for hospitality workers by the 2028 Games, fell short of signatures. The ordinance will take effect, raising hotel wages from $22.50 to $25 next year, $27.50 in 2027 and $30 in 2028.
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Hersha Hotels & Resorts sold The Boxer Boston to Eurostars Hotels.
The company acquired the property in 2012 for $12.6 million.
The property now sold for $23.6 million.
HERSHA HOTELS & RESORTS sold The Boxer Boston, an 80-room hotel in Boston’s West End, to Eurostars Hotels, part of Spain’s Grupo Hotusa. The company, which reportedly acquired the property in 2012 for $12.6 million, received $23.6 million for it.
The seven-story hotel, built in 1904, is near TD Garden, the Charles River Esplanade, One Congress, North Station and Massachusetts General Hospital, said JLL Hotels & Hospitality, which brokered the sale. It also has a fitness center.
Hersha Hotels & Resorts is part of the Hersha Group, founded in 1984 by Hasu Shah. Jay Shah serves as senior advisor and his brother Neil Shah is president and CEO.
JLL Managing Director Alan Suzuki, Senior Director Matthew Enright and Associate Emily Zhang represented the seller.
"The Boxer’s prime location at the crossroads of Boston's West End, North End and Downtown districts, combined with its strong cash flow and its unencumbered status regarding brand and management, made this an exceptionally attractive investment," said Suzuki. "Boston continues to demonstrate resilient lodging fundamentals driven by its diverse demand generators, including world-class educational institutions, medical facilities, corporate presence and convention and leisure attractions."
The property will become the Spanish hotel chain Eurostars’ fifth U.S. hotel, supporting the group’s North American expansion, the statement said.
Amancio López Seijas, president of Grupo Hotusa and Eurostars Hotels Co., said the addition of Eurostars’ The Boxer strengthens the company’s presence in key locations and promotes urban tourism.
Peachtree recognized by Inc. and the Atlanta Business Chronicle.
Named to the 2025 Inc. 5000 list for the third year.
Chronicle’s Pacesetter Awards recognize metro Atlanta’s fastest-growing companies.
PEACHTREE GROUP ENTERED the 2025 Inc. 5000 list for the third consecutive year. The company also won the Atlanta Business Chronicle Pacesetter Awards as one of the city’s fastest-growing private companies.
The Inc. 5000 list provides a data-driven look at independent businesses with sustained success nationwide, while the Business Chronicle’s Pacesetter Awards recognize metro Atlanta’s fastest-growing privately held companies, Peachtree said in a statement.
“We are in the business of identifying and capitalizing on mispriced risk, and in today’s environment of disruption and dislocation, that has created strong tailwinds for our growth,” said Greg Friedman, managing principal and CEO. “These recognitions validate our ability to execute in complex markets, and we see significant opportunity ahead as we continue to scale our platform.”
The Atlanta-based investment firm, led by Friedman; Jatin Desai, managing principal and CFO and Mitul Patel, principal, oversees a diversified portfolio of more than $8 billion.
A PETITION FOR a referendum on Los Angeles’s proposed “Olympic Wage” ordinance, requiring a $30 minimum wage for hospitality workers by the 2028 Olympic Games, lacked sufficient signatures, according to the Los Angeles County Registrar. The ordinance will take effect, raising hotel worker wages from the current $22.50 to $25 next year, $27.50 in 2027 and $30 in 2028.
Mandatory health care benefits payments will also begin in 2026.
The L.A. Alliance for Tourism, Jobs and Progress sought a referendum to repeal the ordinance, approved by the city council four months ago. The petition needed about 93,000 signatures but fell short by about 9,000, according to Interim City Clerk Petty Santos.
The council approved the minimum wage increase for tourism workers in May 2023, despite opposition from business leaders citing a decline in international travel. The ordinance requires hotels with more than 60 rooms and businesses at Los Angeles International Airport to pay workers $30 an hour by 2028. It passed on a 12 to 3 vote, with Councilmembers John Lee, Traci Park and Monica Rodriguez opposed.
The L.A. Alliance submitted more than 140,000 signatures in June opposing the tourism wage ordinance, triggering a June 2026 repeal vote supported by airlines, hotels and concession businesses.
AAHOA called the ruling a setback for Los Angeles hotel owners, who will bear the costs of the mandate.
"This ruling is a major setback for Los Angeles' small business hotel owners, who will shoulder the burden of this mandate," said Kamalesh “KP” Patel, AAHOA chairman. "Instead of working with industry leaders, the city moved forward with a policy that ignores economic realities and jeopardizes the jobs and businesses that keep this city's hospitality sector operating and supporting economic growth. Family-owned hotels now face choices—cutting staff, halting hiring, or raising rates—just as Los Angeles prepares to host millions of visitors for the World Cup and 2028 Olympics. You can't build a city by breaking the backs of the small businesses that make it run."
Laura Lee Blake, AAHOA president and CEO, said members are proud to create jobs in their communities, but the ordinance imposes costs that will affect the entire city.
“Even with a delayed rollout, the mandate represents a 70 percent wage increase above California's 2025 minimum wage,” she said. “This approach could remove more than $114 million each year from hotels, funds that could instead be invested in keeping workers employed and ensuring Los Angeles remains a competitive destination. The mandate increases the risk of closures, layoffs and a weaker Los Angeles."
A recent report from the American Hotel & Lodging Association found Los Angeles is still dealing with the effects of the pandemic and recent wildfires. International visitation remains below 2019 levels, more than in any other major U.S. city.
India-based TBO will acquire U.S. wholesaler Classic Vacations for up to $125 million.
The deal combines TBO’s distribution platform with Classic’s advisor network.
Classic will remain independent while integrating TBO’s global inventory and digital tools.
TRAVEL BOUTIQUE ONLINE, an Indian travel distribution platform, will acquire U.S. travel wholesaler Classic Vacations LLC from Phoenix-based The Najafi Cos., entering the North American market. The deal is valued at up to $125 million.
Gurugram-based TBO is led by co-founders and joint MDs Gaurav Bhatnagar and Ankush Nijhawan.
“We’re thrilled to bring Classic Vacations into the TBO family – the company’s longstanding delivery of services has earned the trust of more than 10,000 travel advisors in the U.S. and their end customers, making Classic Vacations a seamless fit for our vision in the travel and tourism industry,” said Bhatnagar. “Classic Vacations is led by a strong team and will continue as an independent brand while leveraging TBO’s technology and distribution capabilities to grow its business.”
Classic Vacations reported revenues of $111 million and an operating EBITDA of $11.2 million for the financial year ending Dec. 31, 2024, the companies said in a joint statement. The company has a network of more than 10,000 travel advisors and suppliers.
The acquisition combines TBO’s distribution platform with Classic’s advisor network to strengthen their position in the outbound market, the statement said. Classic will continue as an independent brand while integrating TBO’s global inventory and digital tools.
Nijhawan said the acquisition furthers TBO’s investment in organic and inorganic growth.
“As we begin integrating Classic Vacations with TBO, we will remain open to similar strategic alliances going forward,” he said.
Classic Vacations was acquired from Expedia Group by The Najafi Cos. in 2021.
“This acquisition and partnership are a natural next step for our portfolio company Classic Vacations, and we’re happy to have worked successfully with them for the last four years, maximising the company’s strengths and expertise in luxury travel,” said Jahm Najafi, founder and CEO, The Najafi Companies.
Moelis & Co. LLC was the financial adviser and Ballard Spahr LLP the legal adviser to Classic Vacations. Cooley LLP served as legal adviser and PwC as financial and tax adviser to TBO.