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Travel Industry

Page history last edited by Brian D Butler 13 years, 10 months ago

 

Travel Industry

 

"tourism & travel now being one of the world's largest industries, employing approximately 220 million people and generating over 9.4 percent of world GDP." [1]

 

According to the World Tourism Organization (WTO) tourism is the world's largest industry with annual revenues of close to $500 billion, and it is growing fast with airline international tourist arrivals – estimated at 900 million in 2007, up 6 percent from 2006 – expected to double by 2010. According to research by the industry's WTTO, the World Travel and Tourism Council, released this year, world travel and tourism is expected to generate close to $8 trillion in 2008, rising approximately to $15 trillion over the next ten years.

 

The global Travel Industry is vitally important to many countries in the Caribbean and Latin America (as it is to cities such as Miami, Orlando, and many others in the USA).  Surprisingly, the number two industry in terms of dollars spent is "Tourism", following just behind Aircraft, but ahead of the Oil industry, and the arms trade. People around the world spend at least one trillion dollars on travel each year. Travel and tourism comprise the world's largest industrial sector and employ over 300 million people, nearly one-tenth of the global work force. However you count it, there is a massive amount of money to be spent each year on travel, hotels, cruises, and so on.  Because of the importance of travel industry to so many places in the Americas, we felt it only appropriate to highlight travel on our site.   Please feel free to add any comments about the industry, or about how it is important (or not) to your place. 

 

...and the Internet:

Online travel is the ecommerce gateway drug. It makes up some 70% of global ecommerce, it was one of the first categories to take off in the United States and one of the only markets big enough to sustain a host of publicly traded Internet competitors.

 

 

 

 

 

Industry size

 

 

*$1.3 Trillion annualy in US alone

* $7 Trillion Dollar per year industry worldide

* Will double in the next 10 Years

* Accounts for 10.9% of consumer spending worldwide

* Americans spend an average of $4,200 per year on their family vacation

 

There are nearly 250 major airports throughout the world each handling between 2 million and 70 million passengers per year. Air travel forecasts have passenger loads increasing 5-8% per year through 2010.

 

 

Branding a Country?

 

Branding power

Can you brand an entire country? And does that brand affect decisions made by investors and funders? The “Country Brand Index” believes so—and has named the country with the strongest brand in the world. read more»

 

 

Global Spending on Travel:

 

1. According to the Travel Industy association of America (TIA), the total US spending on travel was approx $740 billion, up from $700 billion in 2006.

2. Personal spending on travel and tourism was approximately $3 trillion worldwide in 2007 (according to Travel Industry Association of America).

3. Business travel additional $740 billion worldwide in 2007

 

USA = biggest travel spenders

 * $870 billion in personal travel  =  3 x the second largest country (Japan at $290 million)  * but, will this figure fall as the dollar weakens?

 * $180 billion in business travel = much larger again than second largest country (Japan at $64 billion)

 

Of this, a large portion was spent on airlines

* global commercial aviation revenues 2007 = $473 billion, up from $450 billion in 2006 (according to IATA, the association that represents most major airlines)

* of that figure, there was an estimated $380 billion for passenger traffic + rest for cargo freight

 

 

 

 

 

Farecast sold in $75 million deal  —  Farecast has been sold in a deal that values the online travel search startup at more than $75 million, according to a source with knowledge of the situation.  —  The buyer was not known, and Farecast Chief Executive Hugh Crean declined to comment late Sunday.
Discussion: ReadWriteWeb

 

 

 

 

 

JetBlue founder plans new Brazil airline

March 28 2008 :   David Neeleman, the aviation entrepreneur who founded JetBlue Airways nine years ago, has unveiled plans to start up an airline in Brazil.

The new, yet-unnamed carrier will begin service early next year. By 2013, the São Paulo-based airline will fly to most major cities in the South American country with a fleet of up to 76 Embraer planes, Mr Neeleman said in a statement.  The carrier has raised about $150m from US and Brazilian investors, including Mr Neeleman. He will remain JetBlue’s chairman.

“Our target market is the 150m passengers who travel annually by long-distance bus as well as those who, for lack of convenient alternative, don’t travel at all,” said Mr Neeleman, who was born Brazil.

 

read more:  here 

 

 

 

 

 

 

 

Links 

 

 

 

kookyplan private page:  more reports on the Travel industry

 

 

For extensive information and statistics on the entire travel sector, visit:

 

Travel Industry Association of America at www.tia.org.

 

World Tourism Organization at www.world-tourism.org

 

 

 

 

 

 

Footnotes

  1. http://www.trendwatching.com/briefing/ ▲

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