Travel, Airline, Hotel & Tourism Industry Market Research

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Airlines, Hotels & Travel OVERVIEW

     The World Travel & Tourism Council (WTTC) found that the global travel and tourism industry supported 272 million jobs on a direct basis during 2020 (down from 334 million in 2019).
     The industry generated $4.67 trillion in total (direct and indirect) global contribution to GDP (gross domestic product), down from $9.17 trillion in 2019.
     Business travel spending was off 61%, while leisure spending was down 49.4%. Many airlines around the world took bankruptcy during 2020, while others received massive government bailouts.
     Unfortunately, those bailouts may not be anywhere near enough to keep some airlines in business.
     Meanwhile, the entire industry has curtailed flights and announced massive employee layoffs. While considering the devastating year that the travel industry had in 2020, it is worthwhile to look back at 2019, which was a boom year for virtually all travel sectors.
     In most parts of the world, prior to the Coronavirus, hotels and resorts had been enjoying good to excellent occupancy rates, which enabled them to raise prices, while many new properties have been built or are under construction in promising markets.
     Business travel had grown substantially in recent years, while leisure travel had been generally strong worldwide.
     Nonetheless, when middle class consumers did take a vacation, it was generally on a carefully watched budget.
     At the same time, affluent travelers were spending money freely on luxury hotels, resorts and experiences.
     Prior to the Coronavirus, businesses were sending growing numbers of employees on trips,


Industry Statistics

Top Companies Profiled

The following is a partial listing for this industry. As a subscriber, you will have access to the leading companies and top growth companies. This includes publicly-held, private, subsidiary and joint venture companies, on a global basis as well as in the U.S.

Industry Trends Analyzed Include: