Tourism-Dependent Nations Rethink the Golden Goose
Record arrivals collide with housing crises and overtourism protests. Popular destinations are pricing in quality over quantity.
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The growth model hits its own ceiling
Barcelona, Venice and Kyoto now tax and ration the arrivals that once bankrolled their budgets. The pivot is deliberate: fewer, higher-spending visitors over volume.
The risk is a two-speed travel economy where the mass market shifts to overlooked second cities and regional hubs.
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