Industry Analysis & Industry Trends
The Global Tourism industry has experienced steady growth over the five years to 2016. International tourist arrivals continue to grow, as global per capita income increases and consumer sentiment improves. In the coming years, the industry is expected to continue growing, as the global economy continues to strengthen. Despite some distressed areas due to conflicts or regional economic problems, several factors, such as growing per capita disposable income and improving consumer sentiment, point toward strong tourism growth... read more
Industry SWOT Analysis
The Global Tourism industry is in a long term growth phase. Over the 10 years to 2021, industry value added, which measures an industry's contribution to the overall global economy, is expected to increase at an annualized 3.9%. This is faster than annualized global GDP growth of 3.6%. Over the long term, the industry is expected to outperform the global economy.
The industry has experienced continuing strong growth since at least the late 1980s. In some years in the early 2000s industry revenue grew at rates of well over 10.0%. When the global economy entered a recession in 2009, industry revenue declined heavily as international travel was one of the first expenses cut by nervous consumers... read more