At the 2025 TravelDaily Conference in Shanghai, McKinsey partner Jackey Yu presented research showing the global travel market has largely returned to 2019 levels. Short-term rentals and cultural tourism now exceed 2019 volumes. Yu noted 40% of generative AI users want AI tools for trip planning. McKinsey identified three major trends: demand for authentic local experiences, wellness tourism, and younger generations driving growth with Gen Z and millennials accounting for over 25% of travel expenditures.