San Jose, California (PRWEB) January 30, 2012
Follow us on LinkedIn The fortunes in the outbound travel & leisure segment and to a certain extent, the trends in the inbound travel are very much dependent on a sound economy. Bleak economic prospects, lack of job security, low wage growth, less disposable income, high interest rates, fiscal tightening and others are all major factors that dampen the spirits and deter the traveller, thereby blocking the conduits through which money flows into the travel and tourism market. Over the coming years, travel and leisure industry outlook appears promising with rise in consumer spending on travel and tourism for both holiday and business trips. Although the global economic downturn in 2009 took a heavy toll on the travel sector world over, with drop in number of international arrivals and global outbound sales, the industry was quick to reverse the trend and get back on track in 2010. There was a marked improvement in international arrivals statistics, primarily owing to the impressive performance by developing regions such as Asia-Pacific and South America. The online travel market stayed insulated from the economic downturn, exhibiting consistent rise in sales and profitability. The vacation rental sector also defied all odds by staying afloat in the recessionary phase, mainly due to its widespread presence across the internet, thereby providing easy accessibility and affordability.
A segment that has witnessed remarkable growth in recent times is the short trips category, with low cost airlines driving up overall demand. Around 50% of outbound travel is made by air, and slashes in airlines fare across the world have had a discernible positive effect on the volume of traffic in the travel sector. In addition, with increasing number of women taking to travel for both business and leisure, the travel and leisure sector is poised for growth not just in terms of revenue, but also with respect to development of expensive and convenient women-friendly facilities. A majority of the women consumers travel abroad for business, and often combines business travels and leisure trips. Taking this into account, business hotels have improved their offerings to include women friendly services such as spas, salons, childcare facilities, and boutiques.
Asia is emerging as a significant market for both inbound and outbound tourism traffic, with China, India, and South Korea representing three major Asian destinations for majority of outbound travel. In the fray are other exotic regions outsides Asia including Mexico, Brazil, Spain, Italy, Russia, and Norway. Unconventional or second-layer vacations spots have taken over popularity of conventional destinations. Additionally, special attractions such as the multi-generational family trips and epicurean journeys are expected to become a vibrant trend in the near future. Overtaking Spain, China became the third leading nation to be most visited, while luxury cruises in Egypt, Zimbabwe and India attracted several foreign tourists.
The research report titled Travel and Leisure: A Global Outlook announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report provides a birds eye view of the effervescent and dynamic world of travel and leisure, and a peek into prevailing scenario with data-rich tables offering statistical findings on key regional and international parameters such as, tourist arrivals, tourism expenditure /receipts and spending on travel services among others. The report offers crisp primers on emerging trends shaping the industrys future, and insights into the spate of recent mergers and acquisitions, and other noteworthy corporate developments. Travel market trends and demographic behavioral patterns are neatly outlined, and illustrated with supporting market data tables. Other regional markets briefly summarized, and annotated with tables include Canada, Japan, Austria, Belgium, Denmark, Finland, France, Germany, Italy, Spain, Sweden, Switzerland, The Netherlands, UK, Australia, China, Hong Kong, India, Korea Egypt and others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.
For more details about this comprehensive industry report, please visit
http://www.strategyr.com/Travel_and_Leisure_Industry_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world?s largest and reputed market research firms.
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