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Produced in association with Euromonitor International the report presents an overview of the leading new trends emerging within the industry, focusing on key regions and topics.
The global economy is on the verge of a double-dip recession, as the sovereign debt crisis engulfs Europe and the US battles with its rising debt, leading to financial volatility. The IMF predicts global GDP growth of 4% in 2011, down from 5.1% in 2010.
Global arrivals are expected to slow to 4.3% in 2011, as rising fuel and commodity prices, taxation, austerity measures, political turmoil and social unrest take their toll.
By 2012, the world is expected to witness 1 billion arrivals, spending almost US$1
trillion, thanks to the burgeoning middle classes in emerging markets such as Asia.
Travel operators remain cautious and highly acquisitive to ensure their long-term
survival.
With 9 out of 10 consumers owning a mobile subscription by 2015, digital convergence,
social media and smartphones are key to building brand loyalty.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
