IT was only fitting that this year marked the return of ITB Berlin after being shuttered since 2020 due to the pandemic. The world's biggest annual travel and tourism trade fair, which was held earlier in March, had obviously picked up on people's growing appetite to get back out there and explore the world after the unprecedented halt in international travel. The Philippines participated in the reopened convention, and one of the takeaways from this year's event was to market the country as a luxury wellness destination.
Considering how luxury travel continues to grow, this is a good move on the government's part. According to a Deloitte paper on luxury travel, one market research survey valued the 2021 global luxury travel market at $638 billion, with a compound annual growth rate (CAGR) of 8.9 percent through 2031.
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