Literated Market Research: International Outbound Trips slated to Increase in 2015 through to 2020

Literated Market Research: International Outbound Trips slated to Increase in 2015 through to 2020

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Published 12 September 2015
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Title:
Literated Market Research: International Outbound Trips slated to Increase in 2015 through to 2020
Summary:
Outbound trip growth in the first eight months of 2015 was robust with a growth rate of 4.5%. Experts of the travel industry expect that the global GDP would grow at a rate of 2.6% in 2015 and at around 3% in 2016. The travel industry contributed $7.58 trillion to the global economy in 2014 and the number of international tourist arrivals worldwide touched 1,087 million. The number of international tourist arrivals in 2020 is expected to touch 1,360 million.
Body:
Despite wars in some regions of the world, terrorist attacks and a growing fear of pandemics as well as diverging economic conditions, people around the world have kept travelling more than ever before in 2014.
The Travel trend of outbound trip growth in the first eight months of 2015 was robust with a growth rate of 4.5% and the experts are of the opinion that the same trend would continue throughout 2015. The outbound trips in the travel industry can get increased by as much as 5%, according to some survey and predictions.
Despite the temporary hiccups here and there in the global economy, the overall environment has improved since the financial crisis and the stability is expected to continue through the year and into the next year as well, if not slightly stronger. Experts of thetravel industryexpect that the global GDP would grow at a rate of 2.6% in 2015 and at around 3% in 2016.
The US, where the economic conditions are favorable despite clamors for a rate hike, and China, despite the anticipated slowdown, would drive the global economy. The growth in the US market, particularly would drive the global economy to sustain a growth rate between 2.5% and 3% in 2015 and 2016.
Despite Greek crisis, The travel industry growth in the Eurozone is expected to be at a slow rate of 1.1% and would be driven by the German economy.
The travel industry is expected to see a rise after good pay hikes across Europe, US and Asia and experts see people spending more money in travelling than before, as the fear of global slowdown is reducing and people find no reason to store up for bad times. The
private disposable income is expected to rise by 2% throughout the globe in 2015. This leaves a very good scope for the travel industry to grow further.
The travel industry contributed $7.58 trillion to the global economy in 2014 with the number of international tourist arrivals worldwide touched 1,087 million and the number of European tourist arrivals touched 563.4 million.
The number of international tourist arrivals in 2020 is expected to touch 1,360 million where Europe would contribute the highest with 620 million international tourist arrivals.
For more reports on Travel Market visit
https://literated.com/industry/Travel-And-Leisure-Industry
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