FACTS ABOUT THE TRAVEL & TOURISM INDUSTRY

The Power of Travel
Harnessing the power of the Travel & Tourism Industry requires a rare blend of global perspective and deep-rooted experience. For the first time, both Global Travel & Tourism executives and financial investors can access the informed, industry-specific, high caliber strategic advice they need - quickly and in one place - through Global Alliance Advisors.

Consider the following:

 

  • Travel & Tourism is one of the most important engines of the global economy – Travel & Tourism contributes approximately $6 trillion to the global economy each year. The industry employs over 230 million people worldwide, representing close to 10% of the global workforce.

  • A fragmented global marketplace creates opportunity – The industry is broad in terms of the various sectors that make it up, but the individual sectors are highly fragmented, which creates opportunities for expansion of existing services, consolidation of service providers and restructuring of service companies.

  • Emerging countries contribute to growth – The geographical spectrum of key contributors to Global Travel & Tourism has expanded from the more established regions to include emerging regions of development like Northeast and Southeast Asia, Eastern Europe, the Gulf States and Latin America. It is likely that the challenges and opportunities of the emerging countries will be a reflection of the challenges and opportunities already experienced in the mature travel and tourism markets.

  • Underserved niches create investment opportunities – A number of growth markets in Global Travel & Tourism continue to be underserved in terms of the types and quality of services offered to travelers. There are markets that are ripe for consolidation, as existing players may lack the scale and sophistication necessary to efficiently provide a full range of services.

  • The United States is a model for Global Travel & Tourism – The United States accounts for 25% or $1.6 trillion of the global economy. Most countries are attempting to emulate the United States, signaling an opportunity for countries seeking to improve the lot of their populations, and creating a favorable economic and social impact overall.