The global tourism industry market
is segmented into type such as domestic tourism and international tourism. Among
these segments, domestic tourism segment is expected to occupy the top position
in global tourism industry market. Further, high number of domestic passengers
as compared to international passengers is the major factor behind the
despaired market share of domestic tourism market. In 2016, U.S. domestic
passenger air traffic grew by 3.3% as compared to 2015. Moreover, domestic
tourism is anticipated to witness solid growth during the forecast period.
Global tourism industry market
is expected to flourish at a significant CAGR of 3.8% over the forecast period.
Moreover, the global tourism industry market is expected to garner significant
revenue by the end of 2021. Rising disposable income of the population is one
of the major growth drivers of the
global tourism industry market. Additionally, increasing
business travel spending is anticipated to fuel the growth of tourism industry
during the forecast period.
Europe grabbed the highest
percentage share in overall tourism industry market in 2016. Increasing number
of international tourism and spiked growth of inbound travel in the region is
expected to intensify the growth of the Europe tourism industry market. Asia
Pacific is poised to record fastest growth over the forecast period i.e.
2017-2021. In the past few years, China, India, Thailand and Philippines has
contributed impressively and is anticipated to behold this positive growth in
the upcoming years. North America is also expected to showcase significant
growth in the tourism industry market over the forecast period. In 2016, travel
& tourism contributed USD 503.7 Billion to the GDP.
Rising
Disposable Income
Increasing disposable income of
the population is anticipated to trigger the growth of the tourism industry. Additionally,
continuous growth in the international tourists is anticipated to strengthen
the growth of the tourism industry market.
Government
Initiatives to boost Travel & Tourism Industry
Government tourism
encouragement activities are anticipated to positively shape the growth of the
global tourism industry market in the upcoming years. Moreover, improvement in
the travel infrastructure in developing nations is believed to fuel the growth
of the global tourism industry market.
However, increasing terrorism
activities, political unrest and natural calamities are some of the factors
which are expected to hamper the growth of the global tourism industry market.
The report titled “Global Tourism Industry Market Analysis
& Opportunity Outlook 2021” delivers
detailed overview of the global tourism industry market in terms of market
segmentation by type, by purpose of travel, by and by geography.
Further, for the in-depth
analysis, the report encompasses the industry growth drivers, restraints,
supply and demand risk, market attractiveness, BPS analysis and Porter’s five
force model.
This report also provides the
existing competitive scenario of some of the key players of the global tourism
industry market which includes company profiling of Expedia Inc., Priceline
Group, American Express Global Business Travel, Carlson Wagonlit Travel, BCD
Travel, HRG North America, FC USA, American Express Travel and Travel Leaders
Group. The profiling enfolds key information of the companies which encompasses
business overview, products and services, key financials and recent news and
developments. On the whole, the report depicts detailed overview of the global Tourism industry market
that will help industry consultants, equipment manufacturers, existing players
searching for expansion opportunities, new players searching possibilities and
other stakeholders to align their market centric strategies according to the ongoing
and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries, conglomerates
and executives to take wise decisions for their future marketing strategy,
expansion and investment etc. We believe every business can expand to its new
horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/global-tourism-industry-market-analysis-opportunity-outlook-2021/109
Contact for more
Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
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