On average the world has seen an additional 39 million trips a year, which is equivalent to the population of Poland going abroad every year.
According to Euromonitor International 2016 Travel data, travel and tourism demand is resilient and expected to grow by 4% by 2020. On average the world has seen an additional 39 million trips a year, which is equivalent to the population of Poland going abroad every year. What is interesting is that while Western Europe continues to be the most popular regional destination, it has fallen 10% in terms of volume share, whilst Asia Pacific has increased by the same rate.
Adverse external shockwaves have impacted the traditional sun and sea destinations in locations such as the Mediterranean Sea, with safer destinations winning out. “The substitution effect, where tour operators shift capacity away from troubled hotspots to more stable countries, is visible” says Caroline Bremner, Head of Travel Research at Euromonitor International. International arrivals declined in Egypt and Tunisia, as the travel industry and consumers shun trouble for the safer shores of Spain, Portugal and Croatia.
Global uncertainty also hit the UK, with the Brexit vote expected to affect domestic tourism in the short to mid-term. Euromonitor International predicts 2.3 million less visitors during the 2015-2020 period. Bremner adds “Destination branding and consumer desire to travel would be hit hard by the uncertainty Brexit provides in the short to mid-term.” The EU source markets, such as Ireland, Germany and Spain, along with the US, would experience the sharpest forecast change in volume. However, a pound slump after Brexit would help entice visitors to the UK.
Travel data highlights
- Australia has the highest share of online hotel bookings
- The US was the largest global online travel market, followed by the UK and Japan
- Outbound flows from China will continue to be towards Asia Pacific
- International arrivals in Japan have increased by 18% since 2010
- Cuba has recorded 3.5 million tourists since the travel restrictions were eased in January 2015 growing 17.5 % from 2014
- Chile has been seeing a 10% increase in international arrivals between 2010 and 2015, emerging as a strong destination for leisure and business tourism.
- Iceland has emerged as a popular holiday destination, with high demand for adventure holiday, growing by 21.4% since 2010
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.
