According to U.S. Travel and Tourism 2018 overview, U.S. domestic travel surged 1.9 percent in 2018 to over 2 billion person-trips, while international visitations to the U.S. totaled around 80 million in 2018. With over 50 percent of global population living in urban areas, cities have become economic hubs. Urban cities have been catalysts for innovation, growth, and job creation which will carry on to woo more people. World Travel and Tourism Council states that 68 percent of the global population is said to live in cities by 2050. This development is transpiring the rise of travel and tourism spending. These insights are according to the report titled, “Travel and Tourism Spending Market—Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2027,” which has been freshly incorporated in Market Research Hub’s (MRH) ever-expanding repository. In spite of the fad around international travel, domestic travel account for large majority of global travel and tourism expenditure. Meanwhile, leisure travel considerably outweighs business travel with respect to expenditure, posting close to 80 percent of total global expenditure. According to World Travel and Tourism Council, the eight highest ranked city destinations apropos travel and tourism share of total GDP are all leisure destinations. The council further motivates the stakeholders in the market deducing that travel and tourism industry contributes 10.4 percent to global GDP, and underpins nearly one in ten jobs. These facets substantiate the rising significance of travel and tourism spending market.
Travel and Tourism Spending Market: Report Synopsis
The intelligence report on the travel and tourism spending market is backed up by qualitative and quantitative analysis. Besides, the report delineates the dynamics in the market which have overarching influence in the growth of the travel and tourism spending market, including drivers, restraints, trends, and opportunities. Additionally, the report also delineates segmentation to showcases a comprehensive analysis of the travel and tourism spending market.
The report also shed light on executive summary and overview section, comprehensively delineating travel and tourism spending market. Furthermore, the overview section delves into supply chain analysis, value chain analysis, pricing analysis and PESTLE analysis to shed light on the travel and tourism spending market.
The report also includes benchmarking to compare the performance of the business processes and products with the best performances of rival companies both inside and outside the industry in search for superior performance.
The robust analysis of the competitive landscape of the travel and tourism spending market relies upon Porters’ Five Force Analysis. As such, the Porters’ Five Force Analysis coherently states the potential strategies of the pertinent players in the travel and tourism spending market. The business strategies are bolstered by product portfolio, SWOT analysis, company profile, and recent development.
Travel and Tourism Spending Market: Research Methodology
The report swears by primary sources and secondary sources which offer an in-depth assessment on travel and tourism spending market. The report hinges upon primary source, which includes authentic and veracious analysis from pundits, telephonic interview and unbiased assessment from seasoned analyst, and surveys. Meanwhile, the secondary research relies on Factiva, resourceful database, EC filing and trade journals.
About Market Research Hub
Market Research Hub (MRH) is a next-generation reseller of research reports of different sector like Consumer Goods market research and analysis. MRH’s expansive collection of industry reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.
MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.