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 to from 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, as compared with a decade ago. Over the five years to 2019, the industry is expected to continue over the next five years as the global economy continues to strengthen... read more
International tourist expenditure varies according to whether the trip is to a short- or long-haul destination, its purpose, the size and composition of the travel party and the length of stay.
Spending on accommodation is the industry's biggest source of revenue. This component can be segments in a number of ways, including by star rating or by accommodation style (hotels, resorts, serviced apartments, guesthouses and bed and breakfasts). Visitors tend to demand different accommodation depending on the purpose of their trip, the length of their stay, their budget and size of their travel party... read more