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Understanding the current trends in worldwide tourism
Published on September 30, 2015 17 min
A selection of talks on Global Business Management
The US-Asia triangle: government, business, and values
- Prof. Joseph S. Nye Jr.
- Harvard Kennedy School, USA
Global talent management
- Dr. Elaine Farndale
- Pennsylvania State University, USA & Tilburg University, The Netherlands
My name's Robert Baldry. And I'm director of Seabrook Marketing, a specialist tourism and hospitality marketing consultancy. I have a background in hotels, a background in attractions, and across the tourism markets. And I've been advising hotels and tourism businesses now for about 10 years on tourism marketing issues. So the title of the talk is, "Understanding the Current Trends in Worldwide Tourism."
I'm gonna look at why tourism is important. I'm gonna look at some emerging trends in markets, the ever-changing customer preferences, and highlight some of the challenges that are facing the tourism industry at the moment.
So firstly, I'm gonna look at why is tourism important. And the biggest factor here is the economics of the tourism industry. Tourism is a major worldwide export, and governments generally like tourism. It's a massive contribution to the balance of payments. It's a major worldwide export industry.
So if we look at the figures for global tourism, they're really quite astonishing. Tourism is the fourth largest global export. By 2014, $1.5 trillion worth is generated from travel and tourism. That's about $4 billion per day. And across the globe, there's over a billion international passengers every year. It's growing massively. The forecast is that by 2030, it'll grow by another 65 percent to 1.8 billion international passengers. Now, you add on to that the five or six billion domestic tourists that are traveling globally, and you realize what size or scale the industry really is. It's actually 30 percent of the worldwide exports in terms of services, and 6 percent of overall global exports is tourism. Tourism is the fourth largest after fuels, chemicals, and food. And in many developing countries, it's actually the first, it's their top export, which is significantly supporting regional development around the globe. The UNWTO forecast says that it's gonna grow by 3.3 percent every year up to 2030.