Market Research Report
Travel and Tourism - Market Summary, Competitive Analysis and Forecast, 2016-2025
|Travel and Tourism - Market Summary, Competitive Analysis and Forecast, 2016-2025|
Published: January 15, 2022
Content info: 458 Pages
Delivery time: 1-2 business days
Global Travel & Tourism industry profile provides top-line qualitative and quantitative summary information including: Industry size (value 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the Industry.
The travel and tourism industry consists of revenues generated by passenger airlines, passenger rail, foodservice, hotels and motels, travel intermediaries and casinos and gaming market.
The airlines industry is defined as the total revenue obtained by airlines from transporting passengers.
The passenger rail sector consists of all passenger transport by 'heavy rail' services, sector values in the report consist of revenues generated by operating companies through ticket sales, and so exclude state subsidies.
Foodservice is is valued according to total sales of all food and drink (soft and alcoholic) in or through accommodation outlets, pubs, clubs, and bars, full service restaurants, quick service restaurants and fast food, and other.
The hotels & motels industry value consists of room revenue and non-room revenue, including casinos, shops and telecommunication services.
Travel intermediaries is part of a business that assists in selling travel products and services to customers.
The casinos and gaming market consists of all forms of betting and gaming. All values are stated in terms of gross gaming win. This is the total amount waged by customers minus the total amount paid out to customers as winnings, but before the payment of any applicable taxes, disbursements to charitable or other causes by games established for those purposes, or other expenses. The report only includes gaming activities that are legal in the country where they are offered.
All market data and forecasts are represented in nominal terms (i.e. without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2020 annual average exchange rates.
The length of the pandemic and restrictions introduced by verieous countiries are still difficult to predict, though many governments had introduced the national lockdowns and temporarily banned sales of products that are deemed "non essential". As the length of the pandemic and its impact on this market is not certain, the data used in this report has been modelled on the assumption of a crisis scenario and has taken into consideration forecast impacts on national ecomomics.
The global travel and tourism industry had total revenues of $4,468.4bn in 2020, representing a compound annual rate of change (CARC) of -10.5% between 2016 and 2020.
The foodservice segment generated the most revenue in 2020, with total revenues of $2,211.2bn, equivalent to 49.5% of the industry's overall value.
The industry has been devastated by the global outbreak of COVID-19, which led to an unprecedented decline of 43.5% in 2020.