General Travel Statistics and Market Forecast

General Travel Statistics and Market Forecast

Whether it’s booking a trip or tour to local or international destinations, travelling is a leisure pursuit that many individuals truly enjoy. Check out Indeed, the industry of travel and tourism is one of the biggest and fastest growing industry in the globe.

Establishing and maintaining a business on travel and tour necessitates serious attention particularly to the newest consumer trends as well as insights on the industry.

Overall Travel Statistics and Market Forecast

As per a latest study, in 2017, the online global travel market valued at over $629 billion and by 2020 is forecasted to hit $818bn. This proves the growth path of the industry that both owners and investors are presently predicting. It is certainly a great time for individuals looking to set up a business or perhaps expand their current one.

Always keep in mind every vital news, event as well as challenges that’s happening. An excellent case is the downfall of Thomas Cook, the longest standing travel agency in the globe. The collapse had seriously affected business proprietors in the sector of hotel and leisure, hence ensure you are always updated.

The European Travel Market

Most Europeans opt to take trips outside their country as well as favor to travel throughout Europe since trips and tours are easier to arrange and are friendly to the pocket. For instance, in terms of travel expenses, residents of Germany spend the most on tours and travel compared to other European tourists. In 2017, they were the leading European spenders on global travel and also ranked on top for picking and booking a travel destination ahead of time.

On Digital Statistics – Expectation on Travel Websites

Revealed on recent reports, consumers or travelers are more likely to reserve or book their trip and tours through travel websites that provide a tailored experience. Globally, 90% of travelers say that they hope for a personalized experience as they reserve and arrange for their travel. Incorporating digital travel and tour guides or perhaps other relevant resources is an excellent approach for travelers have that “personalized experience” in your website as well as to stand out from the rest.