This report offers insight on the size and shape of travel and tourism and identifies pressing industry issues, emerging brands, destinations and demographics, growth categories and consumer trends.
For over a decade, the WTM Global Trends Report by Euromonitor International has been at the forefront of accurately predicting major travel trends around the world, looking at how the travel industry is developing in a rapidly changing landscape.
- Global economic outlook remains uncertain with most developed economies showing sluggish growth and emerging economies struggling to maintain higher advances.
- Increased terrorism threats, USP residential elections and the Brexit aftermath are all causing uncertainty across the globe and impacting economic growth and stability.
- None the less, tourism arrivals are extremely resilient with 2016 predicted to be another record year for inbound trips, with 2015 seeing more than 1.2 billion worldwide.
- Travel product sales were US $2.1 trillion in 2015 and are expected to top US$2.5 trillion by 2020, boosted by the adoption of new technology and diverse business models.
- Domestic tripsare lso performing well, with more than nine billion in 2015 and a strong growth rate of 6.1% as consumers enjoy exploring their home nations, often as a first ever trip.
- Inbound receipts saw excellent growth in 2015 to reach more than US 1.6 billion, with Asia Pacific being the region driving this expansion in tourisms pending.
- Online and mobile ravel continues to expand across the globe, helped by growing consumer confidence in emerging regions for mobile payments.
- However, the majority of obile travel purchases are stealing share from other online methods such as PCs, offline is still predicted to have higher global value than online in 2020.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
