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Tourism Industry Analysis Market Size 2021 – Future Strategies, Development Status, Competitive Landscape and Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for Tourism Industry Analysis Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Tourism Industry Analysis Market products.

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The Report Title Tourism Industry Analysis Market has been added by Kenneth Research, provides detailed insights of the market scenario which is further classified on the basis of market size and market volume, along with the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2021-2025.

The global travel and tourism industry was valued at USD 7,581 Billion in 2014 (10.0% of GDP) and was forecasted to grow by 3.8% in 2015. The global tourism industry is further envisioned to witness a year-on-year (Y-O-Y) growth rate of 3.9% and reach USD 11,382 Billion (10.6% of GDP) by 2025.

The tourism industry has witnessed astonishing growth over the previous few years. Sparked by increasing technological advancements and transport networks all over the world, the industry has seen steep growth. In many countries industries such as wildlife, entertainment, art, transportation, etc. have now started taking one step ahead to expand their reach to international visitors/tourists.

“The Final Report will cover the impact analysis of COVID-19 on this industry.”

The global travel and tourism industry was valued at USD 7,581 Billion in 2014 (10.0% of GDP) and was forecasted to grow by 3.8% in 2015. The global tourism industry is further envisioned to witness a year-on-year (Y-O-Y) growth rate of 3.9% and reach USD 11,382 Billion (10.6% of GDP) by 2025. The revenue generated from visitor exports is also projected to upsurge from USD 1,384 Billion in 2014 to USD 2,141 Billion in 2025, exhibiting a CAGR of 4.0%. Total investment in the global travel and tourism sector is anticipated to swell from USD 814 Billion in 2014 at a year-on-year (Y-O-Y) growth rate of 4.7% to reach USD 1,336 Billion in 2025.

Market Size and Forecast

Europe’s tourism industry is the largest in the world accounting for 51% of share in 2015. Europe tourism industry is spiked by the increase in the number of international tourists in France, Spain, Italy, Germany and the U.K. The revenue generated from tourist travel in the U.K. accounted for USD 142.0 Billion in 2015. North America’s travel and tourism industry accounted for USD 1,412 Billion in 2015.

With USD 1,218 Billion of revenues in 2015, the U.S. is the largest travel and tourism market in North America followed by Canada with USD 98.2 Billion. The U.S. tourism market is further anticipated to witness a robust CAGR during the forecast period. Asia-Pacific tourism industry accounts to witness the highest growth over the forecast period i.e. 2016-2025. The tourism market in Asia-Pacific is likely to get propelled from strengthening the economy, rise in disposable income and increasing infrastructural developments in some of the major countries such as India, China, Japan, and Singapore. Backed up by these factors, the Asia-Pacific region is projected to attract over 502+ million visitors by 2025.

Key Players:

The global tourism industry is very competitive and includes some of the top players such as

TCS World Travel
DuVine
Gray & Co
Air BnB
Crown Ltd.
Accor Group
Balkan Holidays Ltd
G Adventures
Fred Harvey Company
Adris Group
Other Notable Key Players

Market Segmentation

By Type
Based on type, the global tourism industry can be segmented into an international tourism and local/domestic tourism

By Purpose of Travel
On the basis of the purpose of travel, the global tourism industry is divided into adventure tourism, business tourism, medical tourism, religious tourism, and others.

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By Geography
Geographically, the global tourism industry can be segmented into North America, Latin America, Western and Eastern Europe, Asia-Pacific, Middle East and North Africa (MENA) and the rest of the world.

The study further analysis the Y-O-Y Growth, demand & supply and forecast future opportunity in North America (United States, Canada), Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa).

Growth Drivers and challenges

Increasing per capita income in most of the emerging nations is believed to be one of the key drivers of the global tourism industry. In addition to that, the promotion of tourism by certain government bodies such as UNWTO (United Nations World Tourism Organization) is also expected to escalate the global tourism industry.

However, natural calamities, terrorist activities, political unrest in many countries, an outbreak of some fatal diseases such as Ebola and Swine Flu, etc. are projected to restrain the growth of the tourism industry in some countries of the world.

Answered to The Frequently Asked Questions:

What Is the Scope of The Report?
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.

What Are The Key Segments In The Market?

  • By product type
  • By End User/Applications
  • By Technology
  • By Region

Which Market Dynamics Affects The Business?
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.

Key Topic Covered in this Report

  • Market Growth Opportunities
  • Leading Market Players
  • Market Size and Growth Rate
  • Market Growth Drivers
  • Company Market Share
  • Market Trends and Technological
  • Impact Analysis of COVID-19 Pandemic on The Global Market

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About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations, and organizations with the aim of helping them to take prominent decisions. Our research library comprises more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both the macro level as well as micro-level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides a significant analysis of various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keeps a track of the international and domestic market for any economic changes impacting the products’ demand, growth, and opportunities for new and existing players.

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