MADRID copy2.pdf

OPPORTUNITY GAPEurope is the number one most popular international destination forAmericans. In 2013, 54% of American travelers said they would beinterested in visiting Europe in the next year. However, in 2014, only15% of travelers actually visited. This leaves a 39% opportunity gap toincrease travelers to European destinations.54%15%39%PERCENT OF TRAVELERS WHO SAID THEY WEREINTERESTED IN VISITING EUROPE TWO YEARS AGO.PRECENTAGE OF TRAVELERS WHO VISITEDEUROPE IN THE LAST TWO YEARS.OPPOURTUNITY GAP TO INCREASE TRAVELERSTO EUROPE.STRENGTHSMadrid has several strengths that make it a desirable Europeandestination for American travelers. Its central location in Spain makesother Spanish cities such as Seville and Toledo readily accessible.Furthermore, Spain’s native language makes Madrid accessible for ahuge number of people from a communication standpoint. Additionally,Madrid’s gastronomy, nightlife, art collections, and soccer franchise areall world-renowned.WEAKNESSESThe destination’s weaknesses include a low geographic proximity to therest of Europe, a lack of beach access, and minimal awareness in theAmerican market of Madrid’s unifying identity as a destination.OPPORTUNITIESThere are several market opportunities that Madrid should capitalizeon in their advertising. An increase in the value of the U.S. dollar relativeto the euro is making European travel more affordable for Americans.Additionally, World Pride 2017 will attract lots of interest, so marketing tothe LGBTIQ community will be essential. Furthermore, Madrid is a hub ofcommerce for Spain, making it an attractive market for business travel.THREATSThreats to the success of tourism in Madrid include an increase inalternative forms of lodging such as CouchSurfing and Airbnb, as well asAmericans’ access to a wide variety of domestic locations.RESEARCH 15