Taking off: The industry will evolve and increasingly rely on travelers flying in from emerging economies

The Tourism industry is experiencing steady growth as both domestic and international travel have increased over the past five years. Increasing corporate profit also led to far more business trips, which has contributed to consistent rises in industry revenue. Moreover, the industry is expected to continue moving steadily ahead over the next five years as increased travel rates and the corresponding rise in travel spending bolster industry performance...read more.

Industry Statistics & Market Size
Revenue
$933bn
Annual Growth 12-17
1.2%
Forecast Growth 17-22
Profit
Employment
5.4m
Businesses
267,103
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Industry Threats & Opportunities

  • The industry will continue to evolve over the next five years, in line with global tourism trends
  • The industry contends with stiff competition for a share of total global international travel
  • The number of inbound visits to the United States is forecast to surge
  • Industry Report - Industry Locations Chapter

    One key factor affecting the regional distribution of this industry is a state's proportion of the population. This factor is particularly important for domestic day trips but less important for domestic overnight trips and international visitors.Tourism features and attractions are also important, particularly those of international significance or with international recognition, such as the Grand Canyon, Disneyland, Las Vegas, New York and Hollywood. Major sporting events, such as the Super Bowl, are major visitor attractions as well. Having a major commercial center, including a major industrial, financial and commercial center for business and conference/convention travelers, such as New York, will also attract business visitors. Als...purchase to read more.

    Additional Insights for the Tourism Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Tourism Industry are

  • Ability to quickly adopt new technology
  • Proximity to key markets
  • Access to a multiskilled and flexible workforce
  • IBISWorld analysts also discuss how external factors such as Domestic trips by US residents and Consumer Confidence Index in the Tourism industry impact industry performance..

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    What is the Tourism Industry?

    Tourism is defined as visitors spending during travel primarily for business, convention or conference travel, government business, and the more familiar tourism for leisure, vacation or to visit friends and relatives. Major industries that benefit from tourism expenditure include domestic and international air transportation, accommodation services, food services, drinking places, automotive rental and travel agencies.

    Industry Products
  • Accommodations
  • Transportation
  • Travel arrangement and reservations
  • Food service and drinking places
  • Recreation and entertainment
  • Industry Activities
  • Accommodation services
  • Domestic airline operation
  • International airline operation
  • Food services and drinking place services
  • Automotive rental
  • Travel agent and tour arrangement services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Domestic trips by US residents
  • Consumer Confidence Index
  • Inbound trips by non-US residents
  • International trips by US residents
  • Consumer spending

  • Current Performance
  • Travel trends
  • Sensitivities
  • Increasing competition
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Travel trends
  • Industry landscape
  • Table: Tourism Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Tourism Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Advertising Agencies
  • Beef & Pork Wholesaling
  • Beer Wholesaling
  • Caterers
  • Construction
  • Dry Cleaners
  • Fish & Seafood Wholesaling
  • Fruit & Vegetable Wholesaling
  • Retail Trade
  • Wine & Spirits Wholesaling

  • Products & Services
  • Other
  • Transportation
  • Accommodations
  • Food service and drinking places
  • Recreation and entertainment
  • Travel arrangement and reservations
  • Chart: Tourism Industry Products and Services Segmentation

  • Demand Determinants
  • Leisure travel
  • Business travel
  • International tourism

  • Major Markets
  • Domestic leisure travelers
  • International visitors
  • Business travelers
  • Meeting, events and incentive travelers
  • Chart: Major Market Segmentation for the Tourism Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesDepreciationOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Tourism

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Tourism Industry

  • Industry Globalization
    Marriott International Inc.American Airlines Group Inc.Delta Air Lines Inc.Hilton Worldwide Holdings Inc.Walt Disney Co
  • Table: Marriott International Inc. - financial performance
  • Table: American Airlines Group Inc. - financial performance
  • Table: Delta Air Lines Inc. - financial performance
  • Table: Hilton Worldwide Holdings Inc. - financial performance
  • Table: Walt Disney Co - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Tourism Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Tourism Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Domestic Trips (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Brick And Mortar
  • A store that has a physical presence and location, as opposed to an online retailer.
  • Global Distribution System
  • A computerized system for agents that comprises details on international and domestic travel product.
  • Revenue Per Available Room (Revpar)
  • A measurement that is calculated by multiplying a hotel's average daily room rate (ADR) by its occupancy rate.
  • Star Alliance Network
  • The world's first and largest airline alliance, with agreements between participating airlines to cooperate on a substantial level.
  • Why buy this report?

    IBISWorld’s industry research report on Tourism contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Tourism:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Tourism market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Tourism, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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