Travel, Airline, Hotel & Tourism Industry Market Research

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Airlines, Hotels & Travel OVERVIEW

  The global travel industry is comprised of a wide variety of businesses, from hotels and inns to casino resorts, trains, buses, airplanes, cruise ships, tour operators and travel bookers, both online and physical.
    Both the United Nations and the World Travel & Tourism Council (WTTC), estimate that more than 1.1 billion tourists traveled the world during 2014.
    WTTC found that the global travel and tourism industry supported 105 million jobs on a direct basis in 2014.
    The industry generated $2.4 trillion in direct global contribution to GDP (gross domestic product). Hotels and resorts have 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 has rebounded considerably over the dismal recession years of 2008-09, while leisure travel has been generally strong worldwide.
    Nonetheless, when members of the European or American middle class do take a vacation, it is generally on a reduced budget.
    Businesses are sending more employees on trips, but keeping a tight rein on costs at the same time. Hotel investment has been growing at a fast clip.
    For example, global firm AccorHotels announced 49,000 new rooms planned for Asia over the next few years.
    The big question, however, is whether or not the late 2015 economic slowdown in China, Brazil and other key markets will


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