Published on : Thursday, December 12, 2013
The world travel industry is set to register a robust growth in the present fiscal year. Moreover, the future of the global tourism and travel industry is bright according to the World Travel Trends Report. The outlook for world outbound travel in 2014 is good the World Travel Monitor showed. Based on the survey results, IPK forecasts a robust growth of 4 – 5% for the worldwide international travel market in 2014.
Looking further ahead to 2020, IPK predicted that ”modest” growth in the developed world will mainly come from more trips per inhabitant, leading to a higher travel frequency. In contrast, emerging markets will grow fast due to a surge in first-time visitors. The ’new world middle class’ is expected to double by 2030, resulting in 1.5 billion more middle class people eager to travel around the world. This will change the picture of world travel over the long term. Regions such as Asia and the Middle East are expected to close the ’travel gap’ with mature markets (Europe, North America, Japan, Australia / NZ) while growth in the ”South” is predicted to be led by countries such as Brazil and India.
The map above displays the current travel levels around the world.
World outbound travel grew solidly in 2013, according to results from IPK International’s World Travel Monitor (WTM) presented at the Pisa forum. Based on the trends of the first eight months the volume of outbound trips will grow by 4% to 947 million in 2013 and the number of overnight stays will also increase by 4% to just over 7.5 billion nights by the year’s end. This was the first time for several years that the average length of an international trip – just below 8 nights – did not decrease. There was also a slight rise in spending. With average spending of US$ 1,659 per foreign trip, world outbound travel turnover grew by 6% to US$ 1,571 billion, according to the World Travel Monitor, which covers 90% of world outbound markets.
The figures represent solid demand despite financial crises, recessions, political turmoil and civil unrest in various parts of the world. Rolf Freitag, president of IPK International, said: ”Without a doubt travelling continues to be a global mega-trend. Already today, one-third of the human race is travelling.” Moreover, this year’s figures maintain the good growth rates seen since 2010. They have led to new record numbers for outbound trips and overnight stays for the last few years.