According to the Travel Industry Association of America’s (TIA) latest Market Share Indicator(MSI) report, the U.S. will see market share declines in 16 of the top 25 markets in 2003…
According to the Travel Industry Association of America’s (TIA) latest Market Share Indicator(MSI) report, the U.S. will see market share declines in 16 of the top 25 markets in 2003. On a more positive note, the U.S. is expected to gain market share of long-haul travel from nine of the top tourism generating countries.
The U.S. will see significant losses this year in many important overseas markets. In fact, the U.S. stands to lose market share in eight of the top ten overseas tourism generating countries. Market share from Venezuela will drop the most, falling nearly 13 percent in 2003, followed by Brazil (-9.3%). The U.S. will also lose market share from Argentina, Australia, Belgium, China, Colombia, France, Germany, Ireland, Italy, Japan, South Korea, Spain, Switzerland and Taiwan.
“The MSI is an important tool for the U.S. travel industry to measure their potential market. The U.S. remains a top destination for many international travelers, but as the number of travelers worldwide grows each year, a smaller percentage of them are choosing to visit our country,” noted William S. Norman, president and CEO of the Travel Industry Association. “This is the real challenge facing our industry and a reminder of why it’s vital to have an ongoing campaign to market the U.S. internationally.”
Offsetting the bad news in market share loss, the U.S. is expected to gain market share from Austria, Canada, Hong Kong, India, Israel, Mexico, the Netherlands, Sweden and the United Kingdom. Of the 25 markets examined, Sweden and the United Kingdom will show the biggest increases in 2003, both rising more than six percent over 2002. Market share from the two largest sources of travelers to the U.S., Canada and Mexico, will increase just slightly, rising one percent and 0.3 percent, respectively.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
