The Global Tourism Market - Three Factors to Watch in 2019

The global tourism market is divided into various segments. Geographic market segmentation is the first one. The geographic location of tourists determines their behavior and preferences. Other factors considered in geographical market segmentation include age, marital status, ethnicity, income, and family members. Marketing people collect and analyze this information to determine how to best target a tourist's needs. They also know what to offer to these groups. Here are some tips for a better understanding of the global tourism market.

Group segment

One of the best ways to meet the needs of potential clients and increase profits is by segmenting the tourism market. Market segmentation involves analyzing information about consumers to determine what products and services they prefer. There are several factors that go into segmentation, including the type of vacation they want, age, gender, marital status, and even family members. By using this information, marketing professionals can target specific markets and maximize profits. Below are a few of these considerations.

Mainland China

If you are considering traveling to Mainland China, you are not alone. The travel industry is undergoing major transformations. As the population ages, so does the spending potential of the Chinese tourist market. Recent research shows that the post-60s generation is a key driver of the local tourism industry. In a survey conducted by the Tourism Research Centre of China, the group reported that in 2020, 11% of the post-60s generation will spend more than ten thousand yuan on travel. Compared to the post-80s and post-00s generations, the post-60s generation is also expected to spend more than double. According to the China National Committee on Ageing, the post-60s population is expected to peak at 487 million in 2050, accounting for about 33% of the total population. Click here for more details about אלי רייפמן

Mainland Europe

In early 2019, the Mainland European tourism market continued its strong performance, driven by a number of factors including strong air connectivity, significant promotional activities, and high demand from Europe's long-haul source markets. Despite the trade war between the United States and China, political populism, and the fear of an upcoming economic downturn, the sector was still in demand for travel to Europe. Here are three factors to watch in 2019.

Mainland Asia

Mainland China is one of the largest tourist markets in the world, and the Chinese middle class is flush with disposable income. With their newfound wealth, they are more likely to spend than ever before. Thailand is the country with the largest number of Chinese tourists, and China's growing middle class is showing no signs of slowing down. Mainland Chinese tourists are also keen on spending, making the region an ideal destination for these travelers. The following reasons will help you tap into this lucrative market.

South East Asia

According to the World Travel and Tourism Council, the South East Asia tourism market will account for nearly 12% of the region's GDP in 2019. The number of Asian travellers has decreased slightly, while European and North American travelers have increased. More than a quarter of the region's travellers are now from the US. The region also has a growing number of Chinese tourists. However, there are also many problems plaguing the South East Asia tourism industry.

Middle East

The Middle East is one of the fastest growing tourist generating regions in the world. Over the last 20 years, outbound travel from the region has quadrupled. While socio-political unrest has had some impact on tourism flows in some countries, the outlook is still favorable. This UNWTO/ETC publication provides an in-depth analysis of the Middle East tourism market, enabling destinations and commercial operators to plan ahead for future growth.

South Africa

While the majority of tourists in South Africa are African, the country is not without foreign tourists. The country's tourism industry has traditionally targeted large investment companies and upper-middle-class groups. Nevertheless, foreign tourists are an important source of foreign currency and international friendship. In addition, the country's cultural and natural heritage are worth exploring. This article will discuss some of the challenges and opportunities facing the tourism sector in South Africa.

Latin America

The Latin America tourism market is booming. As the continent's population ages, a substantial portion of tourists are expected to be over 50. Travel companies must address this demographic by focusing on destinations that are suitable for older tourists. While the region is still relatively young, it has several advantages for travelers. The market is vast and offers unlimited opportunity for growth. In addition to a booming economy, Latin Americans are increasingly tech savvy and enjoy staying connected. In addition, internet security is improving, allowing companies to offer "age-appropriate" travel experiences.