Nationwide, 2004 has been a year of recovery and growth for the travel and tourism industry…
Nationwide, 2004 has been a year of recovery and growth for the travel and tourism industry and Georgia has benefited from this trend recording growth in all travel regions.
According to forecasts released in October 2004 by the Travel Industry Association of America (TIA), during a Marketing Outlook Forum in Phoenix/Scottsdale, Arizona, tourism is on the rise throughout the country. Among the statistics that TIA shared with the nation`s travel industry are the following:
- This is the first year since 2000 that all travel industry sectors are showing increases in demand. In fact, some sectors have already exceeded the levels they reached in 2000
- TIA forecasts that overall traveler spending by domestic and international visitors in the United States will increase by almost 7% by the end of the year – reaching nearly $593 billion by December 31, 2004. (This is an increase from $555 billion in 2003.)
- A projected 5.3 percent increase in tourism spending in 2005 will bring expenditures to an estimated $624 billion.
- Domestic leisure travel has been the one bright spot for the industry. This type of travel has steadily increased over the years, despite the aftermath of September 11, 2001, the lagging economy, the war in Iraq, and high gas prices
- TIA forecasts that domestic leisure travel volume will grow 2.9 percent in 2004, up from 1.9 percent in 2003. It is expected to climb nearly 2 percent in 2005
- Two of the industry segments that have been hardest hit, domestic business travel and international inbound travel, are expected to fuel the industry`s growth in 2004 and beyond
- Business travel is expected to increase 4 percent in 2004 (up from 2003) and then another 3.6 percent in 2005
- Improved business travel is also fueling renewed demand for both air travel and hotel rooms. The Air Transport Association forecasts a 5 percent increase in air passengers by the end of 2004. Smith Travel Research predicts a 4 percent gain in room demand this year
- International arrivals to the U.S. are expected to rise 7.5 percent this year and nearly five percent in 2005. This translates into more than 43 million international arrivals by the end of 2004 and almost 46 million in 2005. (It should be noted, however, that these numbers remain below the record high of 51 million in 2000.)
The National Council of State Tourism Directors Communications/PR Task Force chaired by Janis Cannon, Georgia Department of Economic Development Deputy Commissioner of Tourism, reports that the data provided by TIA spotlights the huge economic importance that travel and tourism plays in states throughout the country.
This is great news for Georgia and everyone in the travel and tourism industry, Cannon said. We are blessed in Georgia to have a sound grasp on the importance of Tourism as a top economic driver in the state`s prosperous future. We have strong tourism partners in both the public and private sectors who recognize the numerous benefits of one of the state`s largest industries- Tourism.
Georgia is the seventh most-visited state in the U.S., with 48 million visitors traveling to and through the state in 2003. TIA`s optimistic forecast will only benefit Georgia and will help increase visitation and revenue.
For the first three quarters in 2004, Georgia has shown continued growth
in overnight visitation in all five travel marketing regions.
- According to the latest Smith Travel Research Standard Historical TREND report, Georgia hotel revenues are up 9.26% for the first nine months of 2004 over 2003. This equals an increase of $161 million in revenues. All travel regions showed an increase of at least 6%, with Southern Rivers and Coastal regions showing 13% and 10% respectively
- According to TravelScope`s Quarter Two 2004 Summary:
- Georgia shows a projected 16,663,000 destination/overnight person trips YTD 2004. This is a 5.7% increase over YTD 2003
- Visits to friends and relatives make up 44% of destination/overnight person-trips, while 15% percent were for other pleasure/personal purposes. Business trips make up 21 % of destination/overnight person trips reported
Georgia is continuing an aggressive marketing campaign to help increase tourism throughout the state through the use of strategically placed advertising, public relations, fulfillment, group tour and international sales missions, direct mail campaigns and online promotions and give-a ways.
The Georgia Department of Economic Development is the state`s sales and marketing arm, the lead agency for attracting new business investment, encouraging the expansion of existing industry, locating new markets for Georgia products, attracting tourists to Georgia, promoting the state as a location for film and video projects, as well as planning and mobilizing state resources for economic development.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
