Travel & Tourism Market Growing Demands and Business Attractiveness 2018 to 2022

The research report presents a comprehensive assessment of the Travel & Tourism market and contains thoughtful insights, facts, historical data, and statistically supported and industry validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, type of product and deal landscapes.

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Along with strategically analyzing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the Travel & Tourism market. This research report offers in-depth analysis of the market size (revenue), market share, major market segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and challenges.

Key Highlights
- According to trade group Cruise Lines International Association, during 2016 the number of Chinese going on vacation at sea doubled, reaching 2.1 million. Rising passenger numbers from far-east markets has initiated a period of cruise ship building; Norwegian Joy was constructed by Meyer Werft in Germany in response to greater Chinese demand. Investment in cruise ships to cater for the emergence of China and other countries in the region suggests passenger numbers will continue to expand rapidly for quite some time to come.

- Europe remains the hope of cruise ship building, a state of affairs reflected by the growth in passenger numbers seen across the continent. In the United Kingdom the average age of passengers dropped to the lowest point in two decades during 2017, and a record 1.7 million passengers went to sea according to the Cruise Lines International Association (CLIA) that year. Common perceptions such as the average passenger being relatively aged are increasingly being proved false.

- Princess Cruises expects in 2018 the number of under 18s to have doubled from 2015; those in the 35-44 year-old age group are also expanded rapidly during that time. Given the wide variety of locations cruise ships go to - including Norwegian fjords as well as the Mediterranean Sea - the cruise line section of the travel and tourism market stands to gain from the growth of experiential travel that has proven to be popular among younger generations.

- The package vacation has to some extent been forgotten due to the expansion in city visits and movement towards experiential holidays rather than conventional two-week stays through a package vacation. Founded in the 1970s, the future of the Thomas Cook run 18 to 30 club is now shrouded in doubt. The company wants to concentrate on the recently created Cook's Club brand that is designed to be of appeal to millennials.

- Despite being the most recognized brand in package vacations, the appeal of the 18 to 30 club has gradually eroded following the formation of adverse perceptions among the wider public and popular destinations. No longer are the younger generations as interested in picking package vacations specializing in bar crawl focused fun, according to the travel company. Instead the impact of social media now dominates. Many now focus upon the online reaction to photos of a vacation on social media rather than quality of the nightlife.

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This report provides in-depth analysis of the Travel & Tourism and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR (%)) for the forecast period: 2018 – 2022, considering 2017 as the base year. It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market. This study also provides key insights about market drivers, restraints, opportunities, new product launches, approvals, regional outlook, and competitive strategies.

Scope of The Report
Examine the travel and tourism industry and how its changing to deal with difficult market conditions
See how the travel and tourism market is dealing with the threats from new entrants
Look at the types of businesses that are popular in the travel and tourism industry today
Examine the opportunities for the travel industry and what the future of the industry might look like

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This release was published on openPR.