Industry Analysis & Industry Trends
The Global Tourism industry is undergoing rapid recovery following a difficult period during the recession. International tourist arrivals continue to grow as global per capita income increases and consumer sentiment improves. Over the past five years, tourists going emerging economies, particularly counties in Asia and South America, have driven the industry's growth. Emerging economies now account for a much larger share of the tourism industry compared with a decade ago. Over the five years to 2019, the industry is expected to continue growing as the global economy continues to strengthen... read more
Industry SWOT Analysis
The Global Tourism industry is in a long term growth phase. Over the ten years to 2019, industry value added, which measures an industry's contribution to the overall global economy, is expected to increase at an annualized 6.4%. 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