Travel and Tourism Market Research Methodologies and Approaches
The report on the Travel and Tourism Market is prepared by employing well-validated research methodologies and approaches. The study authors have applied industry-validated tools for collection of data, including interviews, observations, surveys, questionnaire, and secondary research. The adoption of robust approaches for quantitative research measures makes the study offer holistic perspectives and unique.
The travel & tourism market in North America is a mature and organized market and the second largest in the world. According to the UN World Tourism Organization (UNWTO) Report 2018, the number of international tourist arrivals in North America (including Caribbean and Central America) increased from 97.1 million in 1995 to 174.0 million in 2017, holding a market share of 13.0% in 2017 of global international tourist arrivals. The average annual growth from 2005 till 2017 was 3.7%. The U.S. is the largest travel and tourism market in North America. The U.S. travel & tourism market is the largest and most organized and mature market in North America. As per the UNWTO Report 2018, the number of international tourist arrivals in the U.S. increased from 60,010 in 2010 to 76,941 in 2017, holding a market share of 36.5% in 2017 of international tourist arrivals in the whole of the Americas.
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Value Chain Analysis in Travel and Tourism Market: Trends and Industry Perspectives
The study presents a comprehensive insight into the value chain of the industry or industries associated with the Travel and Tourism Market. It offers insights into trends shaping marketing channels that have delivered customer value. In understanding the marketspace, the business intelligence study evaluates changing consumer demands in various segments. Product/service segments where new strategies are required to attract demand are also highlighted in the study. The study offers business executives some of the pertinent consumer behavior models, which will help companies strengthen their prospects. The study offers a detailed evaluation on the changing attitudes and perceptions of customers to shed light on the potential revenue streams in the Travel and Tourism Market.
Travel and Tourism Market: Business Strategies and Competitive Strategies
The study on the Travel and Tourism Market presents a broad overview of the business and competitive strategies using methods including BCG Matrix and Porter’s Generic Strategy. The assessment details out how leading players are using marketing mix of product, price, place, and distribution for achieving cost and focus leadership. A detailed business portfolio analysis of top players in the Travel and Tourism Market is covered in the study wherever possible.
Some of the key aspects that the study sheds light on are:
- What are some of the recent marketing warfare strategies that have impacted the development of the Travel and Tourism Market?
- How are some of the large-sized players allocating funds to strategic business units to stay ahead of rivals and peers?
- What are some of the expansion strategies by new entrants and top players?
- How do new entrants intend to use business strategies for generating customer value?
- What are some of the consumer-oriented strategies by pioneers and innovators?
- How do established players intend to enter into new markets and grow their market shares during the forecast period of 2021 – 2031?
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Travel and Tourism Market: Assessment of Opportunities in Key Geographies
The authors of the TMR study on the Travel and Tourism Market scrutinize regional landscape and estimate opportunities in various geographies. The external environmental factors such as government regulations, trade barriers, and international norms on export and import are analyzed in the study.
Some of the pertinent factors and facets the study on the Travel and Tourism Market sheds light on are:
- What are some of the major product development avenues that have been created in existing key markets in recent years?
- What cost and distinctive competencies companies have used for marketing penetration in new regions?
- How will share of the key regional markets change by the end of the forecast period?
- What are some of the political and economic factors responsible for companies shifting their focus to new geographies?
- What are companies doing to explore new possibilities in mature markets?
The list of key players operating in the Travel and Tourism Market includes following names:
TUI Group, Hilton Worldwide Holdings Inc., Carnival Corporation & plc, Airbnb Inc., Crown Resorts Ltd., Accor plc, Balkan Holidays Ltd., G Adventures, Adris Grupa d.d., and OYO Rooms
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