[1] UN Tourism (2026), World Tourism Barometer; BusinessMirror (5 October 2026), Global tourism growth slows to 0.4% in H1 amid Mideast crisis. https://pre-webunwto.s3.eu-west-1.amazonaws.com/s3fs-public/2026-09/World_Tourism%20Barometer_Sep26_Excerpt.pdf ; https://businessmirror.com.ph/2026/10/05/global-tourism-growth-slows-to-0-4-in-h1-amid-mideast-crisis/

[2] Revised-text source: https://e.vnexpress.net/news/travel/places/malaysia-tops-southeast-asia-with-29-million-tourists-in-eight-months-5128966.html

[3] Revised-text source: https://www.americanexpress.com/en-us/travel/discover/get-inspired/global-travel-trends

[4] Expedia Group (2025) Traveler Value Index. Seattle: Expedia Group. Research conducted by Wakefield Research among 11,000 consumers across 11 markets, fielded 14 February to 3 March 2025. Available at: https://partner.expediagroup.com/content/dam/unified/partner/documents/reports/2025-reports/expedia-group-traveler-value-index-report_en-us.pdf (published March 2025)

[5] Skift Research (2026) State of Travel 2026. New York: Skift Research. Available at: https://app.air.inc/a/a2348cbbc (published 11 August 2026)

[6] Booking.com (2025) Travel & Sustainability Report 2025: 10 Years of Booking.com Research. Amsterdam: Booking.com. Survey of 32,000 respondents across 34 countries and territories, fielded January 2025. Available at: https://transition-pathways.europa.eu/system/files/2025-05/2025travelampsustainabilityreport-booking.com2_.pdf

[7] Skyscanner — Travel Trends. https://www.skyscanner.com.sg/travel-trends

[8] HBX Group — Travel Trend Report 2026. https://cdn.hotelbeds.com/evolution/cms/prod/public/downloads/HBX%20Group%20Travel%20Trend%20Report%202026.pdf?VersionId=0oQL55S4oah_87WJQ.nCzXZScicSoV.C&submissionGuid=8de3d983-2ae4-4f15-83cb-4aa5093681ef

[9] The Business Times — Top travel trends shaping 2026 getaways. https://www.businesstimes.com.sg/lifestyle/travel-wellness/top-travel-trends-shaping-2026-getaways

[10] Expedia Group (2026) The AI Trust Gap. Research conducted by YouGov, fielded 10 to 25 March 2026 among more than 5,700 adults in the United States, United Kingdom and India. Available at: https://partner.expediagroup.com/en-us/resources/blog/ai-trust-gap-why-travelers-continue-to-choose-trusted-brands

[11] Adobe Digital Insights (2026) Quarterly AI Traffic Report, April 2026. Available at: https://business.adobe.com/resources/sdk/.2026-q2-ai-traffic-report/q2-2026-adi-ai-sourced-traffic-insights.pdf; Pandya, V. (2026) ‘Adobe report: AI traffic to travel sites soars nearly 200% as AI visitors now outperform traditional sources’, Adobe for Business Blog, 17 June. Available at: https://business.adobe.com/blog/adobe-report-ai-traffic-travel-sites-surges-200-percent; Adobe Digital Insights (2026) AI Traffic Trends Report, August 2026. Available at: https://business.adobe.com/assets/pdfs/resources/sdk/ai-traffic-trends-report-august-2026/ai-traffic-trends-report-2026-08-19.pdf. US travel sites; relative conversion shortfall vs non-AI traffic.

[12] Revised-text source: https://www.ttgasia.com/2024/01/25/millennials-gen-zs-willing-to-splurge-on-travel-for-shared-experiences-klook/ ; https://www.klook.com/newsroom/travelpulse-2023-q3q4/

[13] Revised-text source: https://www.mckinsey.com/industries/travel/our-insights/the-way-we-travel-now ; https://tgmresearch.com/gen-z-travel-trends-2026-lifestyle-priority.html

[14] Hilton (2025) 2026 Trends Report: The Whycation, Travel’s New Starting Point. McLean, VA: Hilton. Research conducted by Ipsos, fielded 9 to 30 June 2025 among 14,009 adults across 14 countries. Available at: https://stories.hilton.com/apac/releases/2026-trends-release-apac

[25] Booking.com (2026) Travel & Sustainability Report 2026. Amsterdam: Booking.com. Survey of 32,500 respondents across 35 countries and territories, fielded January 2026. Available at: https://news.booking.com/bookingcoms-latest-travel-and-sustainability-research-reveals-unexpected-generational-paradox/

[15] UK Music (2026) ‘Oasis, Beyoncé and Dua Lipa help attract massive 26.8% increase in overseas visitors as music tourist spending hits new high of £11.2 billion at UK music events’, 10 July. Available at: https://www.ukmusic.org/news/oasis-beyonce-and-dua-lipa-help-attract-massive-26-8-increase-in-overseas-visitors-as-music-tourist-spending-hits-new-high-of-11-2-billion-at-uk/

[16] Singapore GP (2025) ‘Singapore fans embrace the action’, 5 October. Available at: https://www.singaporegp.sg/en/news/2025/singapore-fans-embrace-the-action/

[17] Ministry of Culture, Sports and Tourism (2026) ‘No. of foreign visitors in 1st quarter hits record 4.76 million’, Korea.net, 16 April. Available at: https://www.korea.net/NewsFocus/FoodTravel/view?articleId=290889&koreanId=290864

[19] Eurostat (2025) ‘Tourism statistics: participation in tourism’, Statistics Explained, data extracted October 2025. Available at: https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Tourism_statistics_-_participation_in_tourism

[26] Kiknadze, A. and Leggett, R. (2026) ‘How ageing consumers are reshaping the global economy’, World Economic Forum, 26 August. Available at: https://www.weforum.org/stories/economic-growth/ageing-consumers-reshaping-the-global-economy/

[20] Skift Research and McKinsey & Company (2026) Winning Hearts in an Age of Infinite Travel Choices. New York: Skift. Available at: https://skift.com/insights/new-report-winning-hearts-in-an-age-of-infinite-travel-choices/; Expedia Group (2026) The AI Trust Gap. Research conducted by YouGov, fielded 10 to 25 March 2026 among more than 5,700 adults in the United States, United Kingdom and India. Available at: https://partner.expediagroup.com/en-us/resources/blog/ai-trust-gap-why-travelers-continue-to-choose-trusted-brands; Phocuswright (2025) ‘Search slips, AI surges: travel’s new front door?’, November. Available at: https://www.phocuswright.com/Travel-Research/Research-Updates/2025/search-slips-ai-surges; Chapekis, A. and Lieb, A. (2025) ‘Google users are less likely to click on links when an AI summary appears in the results’, Pew Research Center, 22 July. Analysis of 68,879 Google searches by 900 US adults, March 2025. Available at: https://www.pewresearch.org/short-reads/2025/07/22/google-users-are-less-likely-to-click-on-links-when-an-ai-summary-appears-in-the-results/; Similarweb (2026) ‘AI search stats in 2026’, last updated 17 September 2026, and ‘AI referral traffic by industry: 2026 data’, 3 September, news and travel combined, June 2025 to May 2026. Available at: https://aisearch.similarweb.com/blog/gen-ai-stats/ and https://aisearch.similarweb.com/blog/ai-referral-traffic-by-industry/; Paül i Agustí, D. (2025) ‘The concentrated city: effects of AI-generated travel advice on the spatial distribution of tourists’, Urban Science, 9(7), 268. Available at: https://doi.org/10.3390/urbansci9070268; Andreev, H., Kosmas, P., Livieratos, A. D., Theocharous, A. and Zopiatis, A. (2025) ‘Destination (un)known: auditing bias and fairness in LLM-based travel recommendations’, AI, 6(9), 236. Available at: https://doi.org/10.3390/ai6090236; Spennemann, D. H. R. (2026) ‘Assumptions and undeclared selection criteria: the usefulness of generative AI as a travel recommender system’, Administrative Sciences, 16(6), 252. Available at: https://doi.org/10.3390/admsci16060252

[21] CoStar (2026) ‘World Cup concludes with record host market hotel rates’, July. Available at: https://www.costar.com/article/1261496447/world-cup-concludes-with-record-host-market-hotel-rates; Grant, J. (2026) ‘World Cup 2026: a game of two halves for air travel’, OAG, 12 February. Available at: https://www.oag.com/blog/world-cup-2026-air-travel; World Economic Forum (2026) Travel & Tourism Development Index 2026. Geneva: World Economic Forum, in collaboration with Zurich Insurance Group. 110 economies scored on a 1 to 7 scale. Available at: https://reports.weforum.org/docs/WEF_Travel_and_Tourism_Development_Index_2026.pdf (published 25 September 2026); UN Tourism (2025) Inbound tourism: total arrivals, dataset, December 2025. Madrid: World Tourism Organization. Arrivals ranks are among the 67 economies reporting 2024 overnight visitors. Available at: https://www.untourism.int/tourism-data/un-tourism-tourism-dashboard

[22] Hilton Worldwide Holdings (2018 and 2026) Annual Report on Form 10-K, years ended 31 December 2017 and 31 December 2025. Available at: https://ir.hilton.com/financial-reporting/sec-filings; Marriott International (2026) Annual Report on Form 10-K, year ended 31 December 2025. Available at: https://marriott.gcs-web.com/sec-filings; InterContinental Hotels Group (2026) Annual Report and Form 20-F 2025. Available at: https://www.ihgplc.com/en/investors/annual-report

[23] Crotty, A. (2026) ‘Booking Holdings: AI visibility is up, but referrals stay under 1% of room nights’, PhocusWire, 4 August. Available at: https://www.phocuswire.com/news/finance/booking-holdings-q2-2026-earnings; Nollet, F. (2026) ‘The numbers behind AI’s rise as a booking channel for independent hotels’, eHotelier Insights, 7 July. Data from Lighthouse. Available at: https://insights.ehotelier.com/insights/2026/07/07/the-numbers-behind-ais-rise-as-a-booking-channel-for-independent-hotels/; Skift (2026) ‘Google’s agentic hotel booking tool comes to AI Mode’, 27 August. Available at: https://skift.com/2026/08/27/googles-agentic-hotel-booking-tool-comes-to-ai-mode/

[24] Host Hotels & Resorts (2026) ‘Host Hotels & Resorts, Inc. reports results for 2025’, 18 February. Portfolio of 76 hotels and approximately 41,700 rooms. Available at: https://www.hosthotels.com/Press-Releases/2026/PressRelease_27966; Mandelbaum, R. and Grigg, A. (2025) ‘The role of hotel spa departments’, CBRE, 11 August. Analysis of 297 US hotels operating a spa that participated in CBRE’s Trends in the Hotel Industry survey in 2023 and 2024. Available at: https://www.cbre.com/insights/articles/the-role-of-hotel-spa-departments

[1.2.2] TTG Asia (2024). https://www.ttgasia.com/2024/01/25/millennials-gen-zs-willing-to-splurge-on-travel-for-shared-experiences-klook/

[1.2.4] Klook Travel Pulse (2023). https://www.klook.com/newsroom/travelpulse-2023-q3q4/

[1.2.8] Web in Travel (2026). https://www.webintravel.com/88-of-millennials-and-gen-z-keeping-travel-spending-strong-in-2026/

[1.2.1] McKinsey — The way we travel now. https://www.mckinsey.com/industries/travel/our-insights/the-way-we-travel-now

[1.3.3] TGM Research — Gen Z travel trends. https://tgmresearch.com/gen-z-travel-trends-2026-lifestyle-priority.html

[1.3.2] American Express — Global Travel Trends. https://www.americanexpress.com/en-us/travel/discover/get-inspired/global-travel-trends

[14] Fortune Business Insights (2026), Music Tourism Market Size, Share, Trends. https://www.fortunebusinessinsights.com/music-tourism-market-115105

[15] Airbnb travel predictions coverage, Merca2.0. https://www.merca20.com/airbnb-reveals-that-65-of-trips-in-2026-will-be-for-concerts-festivals-and-sports/

[16] Grand View Research (2026), Sports Tourism Market Size Report. https://www.grandviewresearch.com/industry-analysis/sports-tourism-market-report

[17] Research and Markets (2026), Sports Tourism Market Report 2026. https://www.researchandmarkets.com/reports/6021323/sports-tourism-market-report

[18] Grand View Research (2026), Music Tourism Market Size & Share Report, 2026–2033. https://www.grandviewresearch.com/industry-analysis/music-tourism-market-report

[19] TGM Research (2026), How Travel Brands Can Capture Asia’s 2026 Concert Tourism Opportunity with Consumer Insights. https://tgmresearch.com/concert-tourism-opportunities-asia-2026.html