Market Size of Tourism Market, Forecast Report 2014-2020

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Increasing per capita income is driving the growth of global tourism market leading to continuous growth in international tourism. Over the last five years, tourism market in emerging economies, especially countries in South America and Asia have driven the global tourism market. Compared to a decade ago, global tourism market has undergone a lot of changes. Emerging economies now account for more market share as compared to developed economies. As per International Travel Association (ITA), the number of international tourists arrivals in the U.S.is expected to grow from 69.8 million in 2013 to 83.8 million by 2018.

Tourism Market

Share, Global Trends,

Analysis, Research, Report,

Opportunities,

Segmentation and Forecast,

20142020

Future Market Insights

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Report Description

Increasing per capita income is driving the growth of global tourism market leading to

continuous growth in international tourism. Over the last five years, tourism market in emerging

economies, especially countries in South America and Asia have driven the global tourism

market. Compared to a decade ago, global tourism market has undergone a lot of changes.

Emerging economies now account for more market share as compared to developed economies.

As per International Travel Association (ITA), the number of international tourists arrivals in the

U.S.is expected to grow from 69.8 million in 2013 to 83.8 million by 2018.

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210

Government bodies and organizations such as World Tourism Organization UNWTO are

promoting tourism in order to attract diverse tourists across the globe. These initiatives are

leading to the growth of global tourism market. Adventure tourism is new concept in tourism

market driving the overall tourism market. Further, medical tourism is also a new trend observed

in global tourism market. Significant price difference of medical procedures between different

countries is driving the trend of medical tourism across the world. Global sports and game

events is another driving factor for the global tourism market. People travel to enjoy sports

events such as FIFA World Cup 2014, London Olympics 2012 and ICC World Cup 2011. However,

disease outbreaks such as Ebola in specific countries affect the global tourism up to large extent.

Ebola outbreak in West Africa affected the tourism market in African region.


Report Description

The global tourism market is segmented on the basis of type, industry products, activities

involved and geography. Along with it, on the basis of purpose of travel or tourism the market

for global tourism is segmented into adventure tourism, leisure business travel, conference or

seminar travel, business tourism, visiting relatives and friends. The companies providing tourism

services offer various products and services to their customer. Thus, the industry products

included in the global tourism industry are traveler accommodations, travel arrangement and

reservations, air transportation, other local transport such as car rental, food and beverage

establishments, recreation and entertainment, gasoline and other retail activities. Further, the

industry activities considered within the global tourism market include traveler accommodation

services, providing hospitality services to international tourists, airline operation, automotive

rental, travel agent and tour arrangement services. Countries such as U.S., Germany and France

are popular destinations for global tourism; but in recent years other less well known countries

from Asia and Africa have emerged as destinations of interest for international travelers.

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The global tourism market has a low level of concentration as there are large numbers of

international and local players in tourism market. The market for global tourism is highly

fragmented in nature. Aban Offshore Ltd., Accor Group, Crown Ltd., Balkan Holidays Ltd., Fred

Harvey Company and G Adventures are some of the players in global tourism market.


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