Travel industry analysis
International industry analysis
November 2013
Travel industry
Cauchies Christophe
About the importance of the travel industry in the economy
The travel industry is one of the biggest industries worldwide. Figure 1 shows the total –direct and indirect - contribution of the travel and tourism to the growth in each area of the world. Surprisingly more than 5% of the Asian growth is due to this industry. It represents 3% of the worldwide growth.
Around 9% of the global GDP are – from one way or another – due to travel & tourism. This is the fourth biggest industry in terms of impact on the GDP behind the financial services, the education and communication services.
T&T direct contribution growth forecast for 2013
6,00%
5,00%
4,00%
3,00%
2,00%
1,00%
0,00%
Figure 1 : Source: Oxford Economics
Figure 2: Source: Oxford Economics
Data about the participation of this industry to the global employment is also available. On the figure 3 we can observe a sharp decrease of the share of travel employment to the total employment.
This indicates how tough the crisis for this industry was. Nowadays it represents almost 3,4% of the total employment.
What do we exactly mean by “travel industry”?
The travel industry encompasses a lot of other industries:
Overnight accommodation
Services
Transport
Arrangement
Adventure
Insurance
Etc.
What are we going to study in this report?
We will not focus on the different industries composing the travel industry. Instead we will have a broader focus. It induces that some patterns, trends and issues are common between all these sectors.
Figure 3: Source: Oxford Economics
Demand analysis
The first part of the report tackles the demand side of the industry. The first component of the analysis will be geographical. Afterwards a segmentation of the consumers and their habits will be proposed. Geographic segmentation of the market
In absolute terms the region
November 2013
Travel industry
Cauchies Christophe
About the importance of the travel industry in the economy
The travel industry is one of the biggest industries worldwide. Figure 1 shows the total –direct and indirect - contribution of the travel and tourism to the growth in each area of the world. Surprisingly more than 5% of the Asian growth is due to this industry. It represents 3% of the worldwide growth.
Around 9% of the global GDP are – from one way or another – due to travel & tourism. This is the fourth biggest industry in terms of impact on the GDP behind the financial services, the education and communication services.
T&T direct contribution growth forecast for 2013
6,00%
5,00%
4,00%
3,00%
2,00%
1,00%
0,00%
Figure 1 : Source: Oxford Economics
Figure 2: Source: Oxford Economics
Data about the participation of this industry to the global employment is also available. On the figure 3 we can observe a sharp decrease of the share of travel employment to the total employment.
This indicates how tough the crisis for this industry was. Nowadays it represents almost 3,4% of the total employment.
What do we exactly mean by “travel industry”?
The travel industry encompasses a lot of other industries:
Overnight accommodation
Services
Transport
Arrangement
Adventure
Insurance
Etc.
What are we going to study in this report?
We will not focus on the different industries composing the travel industry. Instead we will have a broader focus. It induces that some patterns, trends and issues are common between all these sectors.
Figure 3: Source: Oxford Economics
Demand analysis
The first part of the report tackles the demand side of the industry. The first component of the analysis will be geographical. Afterwards a segmentation of the consumers and their habits will be proposed. Geographic segmentation of the market
In absolute terms the region