Whether it’s going on a Blue Cave tour from Split, visiting majestic temples in Thailand or trying out cuisines in Japan, one of the busiest industries in the market is that of the travel and tourism. Travel agents, tour operators, as well as Destination Management Companies (DMC) have numerous demands to deal and cope with, such as quickly providing quotes, creating correct and precise invoices, and booking and/or rescheduling travel and tours. With all of these, it could be tough to keep track of everything that’s happening in the active and constantly evolving travel industry without using up hours raking through the internet for recent updates as well as reading reports.
Travel and Tourism Industry Statistics
To, in some way, help businesses and companies in the travel industry, below are some information and statistics available in major areas within the industry. As you go through it, contemplate on how this information might affect your business and so to take action accordingly.
- As per report by the UN World Tourism Association (UNWTO), the year 2018 was the 8th consecutive year of sustained growth of the industry, with international tourism arrivals of 1.4 billion. The trend is forcasted to carry on towards 2020 and the coming years.
- Phocuswright, provider of market research in tourism, travel and hospitality sectors, reckons that by 2020, the worldwide market of tours and activities will hit 183 billion US dollars.
- From 2009 up to 2018, the quantity of open positions in the sector of hospitality, leisure, and travel significantly grew, from 353,000 positions to 1,139,000 positions, according to Deloitte, a global and the largest professional services network. Additionally, as per UNWTO, 1 in 10 jobs is connected to the industry of travel and tourism.
- The average consumers are shifting their spending behaviors, and as a result, the travel and tourism industry is very much benefiting. Overall expenditure on tangible products is declining, while splurging on experiences like travel and dining out is getting higher.
- According to Deloitte, although the usual tourist hotspots are still going strong, there are a few new travel destinations, like Vietnam and Portugal, which are annually increasing in the number of visitors by 20%-30%.
- In a survey conducted by the Adventure Travel Trade Association in 2018, adventure travel isn’t anymore exclusively for the young, where 22% of adventure travelers are under the 51-60 bracket.
- Solo Traveller World reported that 58% of millennials across the globe are prepared to travel solo, while 47% of the older generations are ready to travel alone.