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What is the Skift Travel Health Index?

The Skift Travel Health Index is a real-time measure of the performance of the travel industry at large, and the core verticals within it. Covid-19 has routed the travel industry, with the impact of the pandemic quantified for 22 countries in the Skift Travel Health Index. The Index provides the travel industry with a powerful tool for strategic planning, of utmost importance as times remain uncertain. Skift Research launched the Index in May 2020 as the Skift Recovery Index, and have rebranded it at the start of 2022 as the Skift Travel Health Index, to reflect some far-ranging changes: the addition of many more indicators, additional data partners, and most importantly, our continued effort to track the industry health beyond the impact of the Covid-19 pandemic.

For more information, please visit: https://research.skift.com/recovery/methodology/

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Business News

Travel is Back: Skift Travel Health Index Reaches Record High

Andrea Doyle

May 23rd, 2023 at 11:41 AM EDT

man and woman celebrating

Skift Research reports complete travel recovery as the current Travel Health Index has topped 100, indicating that global tourism is now performing better than it did before the pandemic. Every region in the index has grown, and meeting professionals must take note.

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Travel performance has surpassed 2019 levels for the first time since the pandemic, according to the just-released Skift Travel Health Index that increased by 2 percentage points over March 2023 and now stands at 101, indicating complete travel recovery when looking at the global average. This is a record with the index passing the level last reached in 2019. 

The Travel Health Index is a proprietary tool produced by Skift Research to track the travel industry’s performance using 84 travel indicators with data from 22 partners. 

At its lowest point, the Index hit 20 in April 2020, which indicated that travel performance had dropped to 20 percent of levels in April 2019. The Index covers travel performance since January 2020, up to and including April 2023.

“We started tracking the performance of the travel industry back when it was at its lowest and darkest point. The Index tracks the performance of 22 countries and four main travel sectors within each — aviation, hotels, short-term rentals, and car rental. We compare current performance against the same month in 2019 and use data from 22 data partners to get a very holistic view of recovery,” said Wouter Geerts, Skift’s director of research. 

The Index is a powerful tool for the meetings and events industry as it helps with strategic planning. “It’s a great moment for the travel industry to see that our global index score is now back to 100, meaning that performance is back to pre-pandemic levels,” said Geerts.

skift travel health index

Hidden behind that number, however, are some nuances. “Not every country has recovered, with some overperformers making up for continued weakness in other countries. And similarly, not every travel sector is fully recovered,” said Geerts. “But we are seeing that demand has returned very strongly since the beginning of 2023, and continued high prices have contributed strongly to full recovery. Seat capacity on airlines is slowly returning to what it was before the pandemic, and a strongly performing short-term rental industry has increased the availability of accommodation supply. All these indicators are extremely important for event planners to stay on top of, to understand the dynamics between demand and supply between different destinations and source markets.”

Skift Research launched the Index in May 2020 as the Skift Recovery Index. At the start of 2022, it was rebranded as the Skift Travel Health Index to reflect some far-ranging changes that include the addition of many more indicators, additional data partners, and, most importantly, a continued effort to track the industry health beyond the impact of the Covid-19 pandemic. 

2023 brings two additional data partners into the fold. TravelgateX has started to provide pricing data for hotel stays, and Nium now provides transaction values for flights.

Other data partners include Amadeus , Aviasales , Beyond , CarTrawler , Cendyn , Collinson , Criteo , Duetto , ForwardKeys , Hotelbeds , Key Data Dashboard , OAG , Onyx CenterSource , OTA Insight , RateGain , Shiji Group , Skyscanner , Sojern , Transparent , and TrustYou . 

More analysis can be found in Skift’s  April 2023 Highlights  report and the Skift Travel Health Index data dashboard .

IMEX Frankfurt 2024 Showcases Industry Growing in Confidence

The 2024 edition of IMEX Frankfurt illustrated the global recovery and growth of the events industry, while not neglecting learning and sustainability.

Participants taking a selfie at the entrance of the IMEX Frankfurt 2024 trade show

New Events Venture Group Launched

A Shark Tank for the events industry has been unveiled to connect event entrepreneurs with investors. When a deal is struck, capital and mentorship will help their idea become a reality.

AI image of execs in a presentation.

CWT Meetings & Events Top Exec Departs as AmEx Acquisition Looms

Ian Cummings, global head of meetings and events for CWT Meetings & Events, has stepped down. This comes after a deal in which American Express Global Business Travel is acquiring the company.

Headshot of Ian Cummings

Industry Associations Forge Together

The International Association of Exhibitions and Events and UFI, The Global Association of the Exhibition Industry, have signed a memorandum of understanding to re-establish a regular exchange between the two.

Two execs sign contract from associations

MCI Group Seeks U.S. Growth:  Insights from CEO Sebastien Tondeur

Getting into the mind of MCI Group CEO Sebastien Tondeur provides a compelling insight into the company's strategic direction and the evolving landscape of the events industry.

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Skift Travel Health Index: March 2022 Highlights

skift travel health index

Discover the latest insights from the Skift team in the Skift Travel Health Index: March 2022 Highlights . In March 2022 the global Skift Travel Health Index is 75 points .

The  Skift Travel Health Index  provides a monthly update of travel performance in 22 countries around the world. As one of Skift’s data partners, we provide flight data (powered by  OAG Metis ) to enable the reporting of travel performance along with other key data points - together this creates the  Skift Travel Health Index ,  a vital source to track the travel industry’s recovery from the COVID-19 pandemic.  

"March 2022 saw a slight improvement in the global Index score, although the large jump from the previous month could not be emulated. The global average score now stands at 75, compared to a baseline of 100 in March 2019."

Skift-Travel-March

Download the latest Skift Travel Health Index Highlights here

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skift travel health index

The Skift Travel 200

The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. By bringing together the largest publicly traded travel companies from across the globe, the ST200 makes it easy to track travel industry performance for the first time ever.

Travel Index Performance

What am I looking at? The Skift Travel 200

How to read this chart: This is the price performance of the ST200 in absolute index levels.

Analyst Commentary

The ST200 today sits below its January 2020 peak of 1,175. While this makes it clear that the industry is still struggling to fully recover, much of that damage came in the dark days of 2020. If we instead look at positive year-to-date performance, it becomes clearer that there is gathering optimism for our industry. —Seth Borko, August 30, 2023.

How Does It Work?

Stock indices are often used to understand the performance of industries and nations. The Dow Jones tells us about the U.S. economy while the Nasdaq gives us insight into tech stocks. Yet despite being one of the world’s largest industries, travel has had no equivalent index until now.

The ST200 is the first ever to take a holistic look across the entire travel industry. It breaks down artificial barriers within travel by combining companies from five different sectors: accommodations, airlines, travel tech, cruises and tours, and ground transportation.

The Travel Industry as Captured in the Skift Travel 200

Each major travel sector is assigned a weight within the ST200 based on the market capitalization of the companies within it. Those sectors are further dividing into 14 sub-sectors to provide more granular insights into how different parts of the travel sector are performing.

The Sectors and Sub-Sectors Within the ST200

What am I looking at? The sectors and sub-sectors that make up the ST200 as of September 2023.

How to read this chart: Each group is assigned a weight based on the market capitalization of constituent companies. This chart tells us how big each sector is in comparison to one another.

Learn more about the ST200 by reading our full methodology .

Stock Returns

Travel industry vs. broad stock indices.

What am I looking at? The ST200 compared to the S&P 500 and the MSCI All Country World Index.

How to read this chart: This chart places the travel industry in the context of the broader market. The S&P 500 and MSCI All Country World Index are major benchmarks that track U.S. and global stock market performance, respectively. All indices are set to 1,000 as of December 31, 2018. This chart tells us how the travel industry is doing relative to broader economies.

undefined —Seth Borko, August 30, 2023.

Travel Price Returns by Year

What am I looking at? Annual price returns for the ST200 by calendar year.

How to read this chart: Calendar years are a common way of looking at stock returns. This is particularly helpful for the travel industry because it was so deeply affected by COVID-19 in 2020. Looking at post-pandemic years helps isolate that impact.

Travel Sector Performance

What am I looking at? Index levels for the five core travel sectors that make up the ST200.

How to read this chart: This helps us understand how each part of the travel industry is performing relative to one another.

Travel Industry Quarterly Revenue

What am I looking at? Divisor-adjusted revenue for Skift Travel 200 companies by quarter. Note: We aren’t showing total dollars generated in sales by these companies: If we did, adding or removing companies would skew comparisons over time. Divisor-adjusted revenue is the equivalent of a company's revenue per share but aggregated for the total index.

How to read this chart: This chart shows how top-line sales are progressing for the ST200 in a way that lets us consistently track the sales trend from quarter to quarter.

Travel Industry Quarterly Revenue Growth

What am I looking at? The percent change in travel industry quarterly revenue from the same period last year.

How to read this chart: The travel industry has sharp seasonality which makes sequential growth rates meaningless. Instead, this chart looks at year year-over-year changes in revenue. As we are always looking at changes relative to the same season (e.g. Q2 2023 vs. Q2 2022), this isolates seasonality and can help us understand how top-line growth rates for the travel industry are shaping up.

Travel Industry Rolling 12 Month Revenue

What am I looking at? Divisor-adjusted revenue for the travel industry aggregated over a rolling 12 month period. Note: We aren’t showing total dollars generated in sales by these companies: If we did, adding or removing companies would skew comparisons over time. Divisor-adjusted revenue is the equivalent of a company's revenue per share but aggregated for the total index in a way that lets us consistently track the sales trend.

How to read this chart: To smooth out the travel industry’s seasonality this chart always looks at revenue over a 12 month period (e.g. Q3 2022 - Q2 2023). T12M data lets us look at sequential trends because each observation always includes all four seasons. This chart helps us understand how top-line sales are trending for the travel industry.

Profits (EBITDA)

Travel industry quarterly ebitda.

What am I looking at? Divisor-adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for the travel industry by quarter. Note: We aren’t showing total dollars generated in profits by these companies: If we did, adding or removing companies would skew comparisons over time. Divisor-adjusted EBITDA is the equivalent of a company's EBITDA per share but aggregated for the total index.

How to read this chart: This chart shows how bottom-line profits are progressing for the ST200 in a way that lets us consistently track the profit trend from quarter to quarter.

Travel Industry Quarterly EBITDA Growth

What am I looking at? Percent change in travel industry quarterly EBITDA from the same period last year.

How to read this chart: The travel industry has sharp seasonality which makes sequential growth rates meaningless. Instead this chart looks at year-over-year changes in EBITDA. As we are always looking at changes relative to the same season (e.g. Q2 2023 vs. Q2 2022), this isolates seasonality and can help us understand how profit growth for the travel industry is shaping up.

Travel Industry Rolling 12 Month EBITDA

What am I looking at? Divisor-adjusted EBITDA for the travel industry aggregated over a rolling 12 month period. Note: We aren’t showing total dollars generated in profits by these companies: If we did, adding or removing companies would skew comparisons over time. Divisor-adjusted EBITDA is the equivalent of a company's EBITDA per share but aggregated for the total index.

How to read this chart: To smooth out the travel industry’s seasonality this chart always looks at EBTIDA over a 12 month period (e.g. Q3 2022 - Q2 2023). T12M data lets us look at sequential trends because each observation always includes all four seasons. This chart helps us understand how bottom-line profits are trending for the travel industry.

Profit Margins

Travel industry quarterly ebitda profit margin.

What am I looking at? EBITDA margin for the travel industry by quarter.

How to read this chart: This chart shows how much operating profit travel companies earn relative to the revenue they generated in the quarter.

Rolling 12 Month EBITDA Profit Margin

What am I looking at? EBITDA margin for the travel industry by over a rolling 12 month period.

How to read this chart: To smooth out the travel industry’s seasonality this chart always looks at EBTIDA margins over a 12 month period (e.g. Q3 2022 - Q2 2023). T12M data lets us look at sequential trends because each observation always includes all four seasons. This chart helps us understand how profit margin is trending for the travel industry.

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Skift Travel Health Index

Skift Travel Health Index: March 2024 Highlights

The Travel Health Index in March 2024 shows an overall softening trend compared to the previous month, with the index dropping by 4 pp. However, some countries continue to showcase robust growth, with China, Japan, and Hong Kong at the forefront with double-digit growth levels.

skift travel health index

Skift Travel Health Index: February 2024 Highlights

The travel industry continues to demonstrate a positive momentum in February 2024, gaining 7% year-on-year. Asia Pacific continues to be the frontrunner but slightly reducing growth levels indicate a trend towards normalization.

skift travel health index

Skift Travel Health Index: The 2024 Transition

2023 marked a significant milestone when global travel recovered and exceeded expectations, setting new benchmarks. As we move away from the COVID era, in 2024, the Skift Travel Health Index is shifting its focus to year-on-year (YoY) indexing instead of continuing to compare against 2019 levels.

February 2024

skift travel health index

Skift Travel Health Index: January 2024 Highlights

As we enter 2024, the travel industry is poised for strong growth, building on the recovery momentum of 2023. The Skift Travel Health Index now benchmarks performance year-on-year, moving away from the 2019 benchmark. In January 2024, the index stands at 114, a 14-point increase from January 2023, signaling continued resilience and expansion in the industry.

skift travel health index

Skift Travel Health Index: December 2023 Highlights

The Skift Travel Health Index stood at 102 in December 2023, concluding 2023 as a triumphant year for the travel industry. 2024 signals a promising comeback as the industry moves past the COVID era, navigating the “new normal,” strengthening, and settling into a stable growth trajectory.

January 2024

skift travel health index

Skift Travel Health Index: November 2023 Highlights

The global Travel Health Index rose to 105, continuing the trend of surpassing pre-pandemic levels and setting a new benchmark. Latin America, propelled by the Taylor Swift Eras Tour led the score, soaring to an all-time high regional index of 117 in November 2023.

December 2023

skift travel health index

Skift Travel Health Index: October 2023 Highlights

Global travel softened due to seasonality of demand in October 2023, the Skift Travel Health Index dipping to 103. Europe was impacted the most due to reduced pent-up demand and economic concerns. Despite China's Golden Week holiday, travel recovery in the country remained sluggish.

November 2023

skift travel health index

Skift Travel Health Index: September 2023 Highlights

The Skift Travel Health Index stands at 106 this month, achieving a new record high. However, there is a disparity in the performance of several countries in the Asia Pacific, suggesting that efforts to attract Chinese travelers to nations dependent on inbound tourism may be progressing at a slower pace than anticipated.

October 2023

skift travel health index

Skift Travel Health Index: August 2023 Highlights

Hong Kong is back in business. Travel performance boomed in August 2023, but talk of full recovery is still premature, as 2019 wasn't a particularly good year with widespread protests impacting travel demand in the country.

September 2023

skift travel health index

Skift Travel Health Index: July 2023 Highlights

Global travel's month-on-month performance decline in July 2023 due to seasonality of demand, mirrors the downward trend from June to July last year. Hong Kong, the only country to witness an index uptick this month, has geared up for a steady rebound as travel volumes return.

August 2023

skift travel health index

Skift Travel Health Index: June 2023 Highlights

The Skift Travel Health Index shows that all regions have recovered, but Europe's travel revival appears to be rather slow. With 17 out of 22 countries having fully recovered and Europe being a popular summer hotspot, the global travel industry has geared up for a bright summer season.

skift travel health index

Skift Travel Health Index: May 2023 Highlights

The Skift Travel Health Index continues to indicate global travel recovery in May 2023. With 14 out of 22 countries having fully recovered and some overtaking pre-pandemic travel performance, we anticipate the index to soon significantly surpass 2019 levels if the present travel trends continue.

skift travel health index

IMAGES

  1. Tourism Triumphs: Skift Travel Health Index Reaches Record High

    skift travel health index

  2. Skift Travel Health Index: September 2022 Highlights

    skift travel health index

  3. Travel Recovery In Asia Remains Unpredictable: Skift Research

    skift travel health index

  4. See What Regions of the World Are Fully Recovered: New Skift Travel

    skift travel health index

  5. Asia Pacific Overtakes Europe in Recovery: New Skift Travel Health Index

    skift travel health index

  6. Skift Travel Health Index: New Benchmark in 2024

    skift travel health index

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COMMENTS

  1. Skift Travel Health Index: New Benchmark in 2024

    The New View of the Travel Health Index. January 2024 Highlights marks the debut of our reformed index. The index stands at 114 for January 2024, 14% growth over January 2023.

  2. Skift Recovery Index

    The Skift Travel Health Index is a real-time measure of the performance of the travel industry at large, and the core verticals within it. The Index provides the travel industry with a powerful tool for strategic planning and tracking global travel performance. Skift Research launched the Index in May 2020 as the Skift Recovery Index.

  3. Skift Travel Health Index Shows Softening Trend

    The Skift Travel Health Index in March 2024 witnessed 9 countries exhibiting growth over 2023 levels. China remains at the forefront, growing 21% year-on-year. Japan's double-digit growth during ...

  4. What is the Skift Travel Health Index?

    The Skift Travel Health Index is a real-time measure of the performance of the travel industry at large, and the core verticals within it. Covid-19 has routed the travel industry, with the impact of the pandemic quantified for 22 countries in the Skift Travel Health Index. The Index provides the travel industry with a powerful tool for ...

  5. Skift Travel Health Index: January 2023 Highlights

    The Skift Travel Health Index is a real-time measure of the performance of the travel industry at large, and the core verticals within it. The Index provides the travel industry with a powerful tool for strategic planning, which is of utmost importance as times remain uncertain. Skift Research launched the Index in May 2020 as the Skift ...

  6. Tourism Triumphs: Skift Travel Health Index Reaches Record High

    The Travel Health Index is a proprietary tool produced by Skift Research to track the travel industry's performance using 84 travel indicators with data from 22 partners. The global index ...

  7. Skift Travel Health Index: May 2022 Highlights

    The Skift Travel Health Index is a real-time measure of the performance of the travel industry at large, and the core verticals within it. The Index provides the travel industry with a powerful tool for strategic planning, which is of utmost importance as times remain uncertain. Skift Research launched the Index in May 2020 as the Skift ...

  8. Skift Travel Health Index: September 2022 Highlights

    Global Travel Performance Has Stagnated. In September 2022 the global average score of the Skift Travel Health Index remained at 86% of 2019 levels, which is virtually the same score we have seen since June 2022. Achieving the final 14% to get completely back to pre-pandemic performance levels continues to depend mostly on Asia Pacific getting ...

  9. Skift Travel Health Index: October 2022 Highlights

    The Skift Travel Health Index has now been sitting around the 85% mark since June, and has not been able to break through that metaphorical ceiling. In October 2022, the global average score of the Skift Travel Health Index dropped three percentage points to 84% compared to October 2019. Although this is a month-over-month decline, it is still ...

  10. Skift Travel Health Index: December 2022 Highlights

    The Skift Travel Health Index is a real-time measure of the performance of the travel industry at large, and the core verticals within it. The Index provides the travel industry with a powerful tool for strategic planning, which is of utmost importance as times remain uncertain. Skift Research launched the Index in May 2020 as the Skift ...

  11. Travel Health Index Hits Highest Post-Pandemic Mark

    This year too seems to have started on the same note. There has been an increase over December 2022, with the Skift Travel Health Index now sitting at 89, which is a noteworthy 30 percentage ...

  12. Skift Travel Health Index: June 2022 Highlights

    The Skift Travel Health Index is a real-time measure of the performance of the travel industry at large, and the core verticals within it. The Index provides the travel industry with a powerful tool for strategic planning, which is of utmost importance as times remain uncertain. Skift Research launched the Index in May 2020 as the Skift ...

  13. Global Recovery Cools as Anxieties Heat Up: New Skift Travel Health Index

    Travel's performance dropped in November from 84 to 81 points, according to Skift Research's latest analysis in the Skift Travel Health Index: November 2022 Highlights report. This means that ...

  14. Air Travel Woes Put a Drag on Recovery: New Travel Health Index

    The Skift Travel Health Index dropped for the first time in 2022, as the mess at airports and airlines is catching up with the industry. Javascript is required for this site to display correctly ...

  15. Japan Finally Shows Signs of Recovery: Skift Travel Health Index

    The month of March saw a slight improvement in the global score of the Skift Travel Health Index, although the large jump from the previous month could not be emulated. The global average score ...

  16. Travel is Back: Skift Travel Health Index Reaches Record High

    The Travel Health Index is a proprietary tool produced by Skift Research to track the travel industry's performance using 84 travel indicators with data from 22 partners. At its lowest point, the Index hit 20 in April 2020, which indicated that travel performance had dropped to 20 percent of levels in April 2019.

  17. Skift Travel Health Index: March 2022 Highlights

    In March 2022 the global Skift Travel Health Index is 75 points. The Skift Travel Health Index provides a monthly update of travel performance in 22 countries around the world. As one of Skift's data partners, we provide flight data (powered by OAG Metis) to enable the reporting of travel performance along with other key data points ...

  18. Exploring the Rise of Day Tours and Experiences in Travel

    Our report reveals that attractions play a pivotal role, with 27% of travelers choosing day tours to explore new places. Nature/adventure tours top the list of preferred experiences, closely ...

  19. Travel Health Index Hits Highest Post-Pandemic Mark

    Travel Health Index as of January 2023. ... There has been an increase over December 2022, with the Skift Travel Health Index now sitting at 89, which is a noteworthy 30 percentage points (pp ...

  20. TUI Links Tours To Conservation Efforts

    Skift Travel 200; Short-Term Rental Top 250; Travel Health Index; Hotel Tech Benchmark; Skift Research. Access exclusive travel research, data insights, and surveys. Subscribe Now. Advertise;

  21. Skift Travel 200

    The Skift Travel 200 is built as a market capitalization weighted index. This is the industry standard methodology for stock indices. Each company in the index has a market value, also called a market capitalization, determined by stock market investors. A market cap is the equity value of each business calculated by taking the share price of ...

  22. AI-Powered Travel Updates Will Make Translation Easier

    Today's podcast looks at AI-powered travel tools, airlines suing to protect junk fees, and Booking's European challenge. Good morning from Skift. It's Tuesday, May 14. Here's what you need to ...

  23. U.S. Travel Trends Q1 2024: Exploring Day Tours and Experiences

    The 'U.S. Travel Trends' series offers a recurring analysis of key trends in the American travel industry, covering both ongoing trends and a special topic each quarter. The Q1 2024 report focuses on 'Day Tours and Experiences,' highlighting the increasing popularity of day tours among travelers seeking unique and memorable experiences.

  24. Skift Travel 200: Travel Industry Stock Index, Updated Daily

    The Skift Travel 200. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. By bringing together the largest publicly traded travel companies from across the globe, the ST200 makes it easy to track travel industry performance for the first time ever.

  25. Corporate Travel Comeback: Airlines Say They're Seeing Gains

    The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more airlines sector financial performance .

  26. San Francisco Travel CEO Resigns After Less Than One Year

    Scott Beck, former CEO and president of San Francisco Travel. Fighting the public image of a city in decay was a key focus of Beck. "The first and foremost strategy to over-index right now is ...

  27. Skift Travel Health Index Archives

    The Skift Travel Health Index now benchmarks performance year-on-year, moving away from the 2019 benchmark. In January 2024, the index stands at 114, a 14-point increase from January 2023, signaling continued resilience and expansion in the industry. February 2024. Skift Travel Health Index ...

  28. Google Takes Next Step in AI Trip Planning

    Google is diving head first into AI-powered trip planning. Gemini Advanced, the paid version of the Gemini generative AI chatbot, will soon be able to build itineraries for someone's trip with a ...