the share of global travel spend that's already domestic, not international, $5.63 trillion against $2.02 trillion.

Most of global travel spend is already domestic. Travel retail still ranges heavily for Western luxury.

Worth sitting with that gap for a moment. The centre of gravity in global travel has shifted further and faster than a lot of ranging decisions reflect, and I don't think that's a criticism of anyone, more a sign of how quickly the underlying numbers have moved.

Where the growth actually is

India's travel and tourism sector grew 7.3% in 2026, driven by rising domestic demand and a strong revival of regional travel, according to WTTC data. More broadly, Eastern and Southeast Asia together now account for 31.7% of global international travel demand, the clear standout region worldwide. This isn't a future growth story, it's the current one.

The commercial reality, honestly

We're active in Southeast Asia ourselves, and from what we see, price sensitivity runs higher there and product preferences differ from Western markets, but the underlying commercial process and product needs are broadly similar. Where it does differ is sustainability. Price and product quality lead in these markets first, sustainability tends to follow as they mature, which is a pretty normal pattern in consumer market development generally, not something unique to travel retail.

That's the actual opportunity though. Buyers who start the sustainability conversation now, ahead of consumer expectations catching up, will already be positioned for it when that maturity curve arrives. Waiting for regulation or consumer pressure to force the conversation means starting from behind rather than ahead.

If you're buying into these growth markets and want to start the sustainability conversation early rather than wait for it to be forced, reply and let's talk through what that could look like.

A bit more info, as always.

Adam

Commercial Director · Bitmore · adam@bitmore.co.uk