Increasing per capita income is driving the growth of global tourism market leading to continuous growth in international tourism. Over the last five years, tourism market in emerging economies, especially countries in South America and Asia have driven the global tourism market. Compared to a decade ago, global tourism market has undergone a lot of changes. Emerging economies now account for more market share as compared to developed economies. As per International Travel Association (ITA), the number of international tourists arrivals in the U.S.is expected to grow from 69.8 million in 2013 to 83.8 million by 2018.
UNWTO are promoting tourism in order to attract diverse tourists across the globe. These initiatives are leading the growth of the global tourism market. Adventure tourism is new concept in tourist market driving the overall tourism market. Further, medical tourism is therefore a new trend in the global tourism market.
Significant price difference of medical procedures between different countries is driving the trend of medical tourism across the world. Global sports and events is another driving factor for the global tourism market. For example, FIFA World Cup 2014, London Olympics 2012 and ICC World Cup 2011. However, disease outbreaks also seek out Ebola in specific countries. Ebola outbreak in West Africa affected the tourism market in African region.
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The global tourism market is segmented on the basis of type, industry products, activities involved and geography. On the basis of type, international tourism and domestic tourism are the two major types of tourism market. Along with it, on the basis of tourism tourism, leisure tourism, business tourism, visiting relatives and friends. The companies providing tourism services offer various products and services to their customers. Thus, the industry products are included in the global tourism industry, gasoline and other retail activities. Further, the industry services within the global tourism market include traveler accommodation services, providing hospitality services to international tourists, airline operations, automotive rental, travel agent and tour arrangement services. Countries like US, Germany and France are popular destinations for global tourism; Asia and Africa have emerged as destinations of interest for international travelers. Thus, tourism service providers are realigning their services in order to reap the economic benefits from this trend Countries like US, Germany and France are popular destinations for global tourism; Asia and Africa have emerged as destinations of interest for international travelers. Thus, tourism service providers are realigning their services in order to reap the economic benefits from this trend Countries like US, Germany and France are popular destinations for global tourism; Asia and Africa have emerged as destinations of interest for international travelers. Thus, tourism service providers are realigning their services in order to reap the economic benefits from this trend
The global tourism market has a high level of international and local tourism market players. The market for global tourism is highly fragmented in nature. Aban Offshore Ltd., Accor Group, Crown Ltd., Balkan Holidays Ltd., Fred Harvey Company and G Adventures are some of the players in the global tourism market.
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This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product type and distribution channels.