To truly take advantage of this growth, merchants will need to meet consumer expectations, providing reliable and seamless payment systems, particularly for online sales, which will account for 74% of total revenue by 2027.
Travel and tourism are driving growth and employment across the world. By 2033, the industry is expected to be worth US$15.5 trillion and account for 11.6% of the global economy.
Travel is a particularly strong growth engine for developing markets across Asia and Latin America, where new destinations are growing in popularity and the emerging middle class is discovering travel for the first time. The opportunity for the travel industry’s merchants has never been bigger.
