When it comes to outbound tourism from the U.S., the world is an interesting place. But just how big is this market? Who is its biggest market? What countries are growing the fastest? What are the fastest-growing emerging economies? Global Travel offers you many answers to these questions and more. Let’s take a look at some of its most notable facts. Read on to find out why. And what can you do to protect yourself?
Outbound tourism from the U.S.
Outbound tourism from the U.S. is declining. According to Tourism Economics, outbound trips will be down between 60 percent and 80 percent by 2020. This will have a profound effect on the country’s economy. The number of international travelers to the United States is also declining. In 2015, foreign visitors spent $246.2 billion in the U.S., generating a trade surplus of $97 billion.
The European Travel Commission tracks outbound tourism from the U.S., and it dwarfs the growth in emerging markets. A majority of U.S. travelers travel for leisure or to visit family and friends. Almost fifteen percent of outbound trips to Europe are for business or MICE purposes. These numbers aren’t a complete picture, but they do show that the U.S. is a major source of international tourism.
Regional distribution of international tourist arrivals
The Caribbean region recorded 6.3 million international tourist arrivals in 1992, with over one third going to U.S. territories such as the Bahamas, Jamaica, and the Dominican Republic. As one might expect, Caribbean destinations are the most dependent on U.S. tourists, with the United States accounting for 52 percent of international arrivals and eight percent of international travel from the United States. The asymmetric network density, however, reflects the growing dependence on foreign tourism in recent years, with more foreign travelers coming from countries like Asia and Europe than from any other region.
In 1950, Europe received two-thirds of all international tourist arrivals, and that number is projected to remain the case in the coming decades. Asia and the Pacific are expected to experience the greatest growth in the next few decades, with a contribution of more than one-third of all international visitors to those regions in 2030. By contrast, the United States, which accounted for only ten percent of total international arrivals in 1990, is expected to account for more than half of all international travel by 2030.
Emerging economy destinations
The impact of emerging markets on global travel is growing at a rapid pace. Consumers from emerging markets are increasingly willing to spend their money, and they are outpacing their developed market counterparts in terms of holidaying. The rising middle class in emerging markets will be an additional source of travelers, particularly for destinations with high-end retail offerings. But these consumers are not only willing to spend money; they are also exhibiting extraordinary resilience.
The characteristics of global tourism have changed significantly over the past few decades, and researchers have documented the growth of new markets in outbound travel. Among the most popular emerging markets are the BRICS nations. The influx of tourists to these countries has also impacted tourism flows to Europe, with several European countries making efforts to take advantage of this trend. Despite the challenges, emerging economies are poised to become global travel hubs.
In an age where global travel is increasingly becoming an industry, booking tools play a crucial role in the global travel distribution process. They enable companies to create a pleasant customer experience. Booking tools should not just allow travellers to book online, but also allow them to make reservations over the phone or via email. In addition, booking tools should ensure that they offer seamless cross-border bookings and support pre-payment of luggage. These three essential features make booking tools the most effective solutions for global travel.
Regardless of the industry, booking trips can be a real pain. Companies that do things the traditional way have to wade through complex travel policies, rely on staff to book trips, and then provide proof of purchase once employees return home. Fortunately, there is technology that makes this process easier than ever. Let’s take a closer look at the latest booking tools for global travel. This list is by no means exhaustive, but it should help make your life easier.