Global Travel & Tourism industry profile provides top-line qualitative and quantitative immediate information including: Manufacturing and approximation. The profile also contains descriptions of the leading group of actors including key financial metrics and investigation of competitive pressures within the Industry.
Key Highlights
The travel and tourism business consist of revenues generated by passenger airlines, passenger rail, foodservice, hotels and motels, travel intermediaries and casinos and betting.
The airlines industry comprises passenger air transportation, including both scheduled and let, but ignores air cargo transport. Manufacturing volumes are defined as the total number of revenue passengers supported enplaned (exits) at all airports within the specified country or region.
The hotels & motels trade value consists of all revenues generated by hotels, motels and other accommodation providers through the provision of accommodation and other services. value includes room revenue and non-room revenue, including casinos, shops and telecommunication services.
The activity of traveling to a place for pleasure, the business of providing hotels, restaurants, entertainment, etc., for people who are traveling. On the basis of purpose of travel, the global tourism industry is divided as adventure tourism, business tourism, medical tourism, religious tourism and others.
Increasing per capita income in most of the developing nations is believed to be one of the key drivers of global tourism business. Adventure tourism is new concept in tourism market driving the general tourism market.
On the basis of type, international tourism and domestic/local tourism are the two major types of tourism market. Along with it, on the basis of purpose of travel or tourism the market for global tourism is segmented into adventure tourism,
Thus, tourism service providers are readjusting their services in order to earn the economic benefits from this movement. The global tourism market has a low level of concentration as there are large numbers of international and local group of actors in tourism market.
The market for global tourism is highly fragmented in nature. Global sports and game events is another driving factor for the global tourism market. People travel to enjoy sports events such as, Olympics, World Cup as well.
However, disease outbreaks such as Coronavirus in specific countries affect the global tourism up to large extent. Coronavirus outbreak in West Africa affected the tourism market in African region.
Tourism industry has witnessed an astonishing growth over previous few years. Sparked by increasing technological advancements and transport networks all over the world, the industry has seen a steep growth. In many countries industries such as wildlife, entertainment, art, transportation, etc. have now started taking one step ahead to expand their reach to international visitors/tourists.
