Industry Background:
The travel and tourism industry is one of the world’s largest industries. Europe receives the most international tourist arrivals every year. France and the United States are popular tourism destinations than others. Developing countries like China and India have high market potential. Increased disposable income of the people from these regions is the main driver for the growth of the travel and tourism industry.This growth is primarily driven by Increased Per Capita Income, Tourism Promotions by Government Bodies and Increasing Interests to Visit Unique Places and Experience Local Culture.
Globally, a noticeable market trend is evident Trend of Educational and Ecological Tours. Major Vendors, such as TUI Group (Germany), Carnival Corporation & plc. (United States), Crown Resorts Ltd. (Australia), Hilton (United States), Accor plc (France), Airbnb Inc. (United States), Balkan Holidays Ltd. (United Kingdom) and Adris Grupa (Croatia) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 21st March 2018, Airbnb and VisitScotland announced a new strategic tourism partnership to help increase the economic benefits of tourism and travel across Scotland.
On 17th April 2018, Airbnb launched the office of healthy tourism, an initiative to drive local, authentic and sustainable tourism in countries and cities across the globe.
Market Drivers
- Increased Per Capita Income
- Tourism Promotions by Government Bodies
- Increasing Interests to Visit Unique Places and Experience Local Culture
Market Trend
- Trend of Educational and Ecological Tours
Restraints
- Outdated Tourism Infrastructures in Many Locations
- Government Taxation to Travel and Tourism Industry
Challenges
Establishment of Better Security Infrastructure for Tourists and Travelers and Extreme Weather Events Damaging the Destinations
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Travel and Tourism Spending Study Sheds Light on
The Travel and Tourism Spending Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Travel and Tourism Spending industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Travel and Tourism Spending industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.