Claims that Facebook is in decline because younger generations are abandoning the site for other social platforms have been dismissed.

Mike Fox, chief marketing officer at Culture Trip, who formerly worked at Facebook as director of marketing, said: “It’s a total myth. Take a look at their recent financial results. They’re crushing it."

Nena Chaletzos, founder and chief executive of online travel agent Luxtripper, said many social media users are on several platforms but tend to use one the most, “just because they go on to Instagram doesn’t mean they’re going to leave Facebook.”