Industry Report - Global Travel Agencies Services.pdf
《Industry Report - Global Travel Agencies Services.pdf》由会员分享,可在线阅读,更多相关《Industry Report - Global Travel Agencies Services.pdf(33页珍藏版)》请在三一文库上搜索。
1、CONTENTS Error! No text of specified style in document. May 2011 | .au | www.ibisworld.co.uk | IBISWorld Industry Report H4911-GL Global Travel Agencies Services May 2011 About This Industry . 2 Industry Definition . 2 Main Activities . 2 Similar Industries 2 Additional Resources 2 Industry Perfor
2、mance 4 Executive Summary 4 Key External Drivers . 4 Current Performance 5 Industry Outlook 7 Industry Life Cycle 9 Products industry revenue fell two out of the past five years. However, revenue is expected to grow by 3.6% in 2011, to reach $649.4 billion. Despite the volatility, the industry has p
3、erformed relatively well, reporting an annual revenue growth of just 0.8% over the period. In 2010, the industry faced a brighter operating environment and performance prospects, as the global economy began its recovery from the recession. Given this, revenue growth and yields for tourism operators
4、initially lagged the growth in international travel volumes, as travel prices adjusted slowly to the rise in demand. But far stronger industry growth occurred in Asia, the Pacific, the Middle East, North and South Africa (assisted by the FIFA World Cup) and South America. This growth followed two ye
5、ars of declining revenue. In 2009, the industry was influenced by the global recession. The poor economic conditions led to a significant slump in domestic tourism and deep discounts in industry rates and fares. Until mid-2008, the price of fuel greatly affected travel demand and patterns. High fuel
6、 costs directly led to high travel costs, as airlines and other transport companies increased prices to cover the cost of fuel. This resulted in a global slump in international travel, which caused airfares to collapse by as much as 40.0% in 2009. The industry also faced significant competition for
7、its share of household disposable income due to technological change. The industry is expected to perform much more strongly over the next five years. Revenue is forecast to grow by 4.5% per annum, to reach $810.0 billion in 2016. Total tourism numbers are expected to increase as more European count
8、ries emerge from recession. However, growth in tourists from these regions will be subdued as their economies recover slowly. In contrast, tourism from developing markets is expected to surge. Growth will be supported by major events such as the 2012 London Olympics and the 2014 FIFA World Cup in Br
9、azil. Key External Drivers The key sensitivities affecting the performance of the Global Travel Agencies Services industry include: Economic Indicators - Consumer Sentiment Index The level of consumer and business sentiment influences travel demand. Pervasive Technology - Internet Connections Access
10、 by households and businesses to internet and web sites is increasing the number of direct bookings with travel operators - including domestic and international airlines, accommodation, tours etc. - and by- passing travel agents altogether. Tourism - Inbound - Total Trends in inbound tourism by regi
11、on and country has a direct impact on services demanded from retail travel agents and tour wholesalers. Tourism - Short-Term Departures: Total Trends in short-term international visitor departures by individual region and country has a significant impact on services demanded from retail travel agent
12、s and tour wholesalers. Tourism - Visitor Nights: Domestic Trends in domestic visitor nights by individual region and country has a significant impact on services demanded from retail travel agents and tour wholesalers. WWW.IBISWORLD.COM Global Travel Agencies Services May 2011 5 Current Performance
13、 The Global Travel Arrangement and Reservation Services industry has been affected by the decline in domestic and international travel across most major developed countries over the past five years. The decline even spread to developing regions as the global recession took hold. There was some impro
14、vement in travel movements in 2010 but growth was tempered by continuing concerns of unemployment. The improvement is expected to continue through 2011, with industry revenue forecast to increase by 3.6% to $649.4 billion. Overall, industry revenue is expected to grow by an average 0.8% per annum ov
15、er the five years through 2011. The industry is also feeling the adverse effects of reduced commission rates on domestic and international airline ticket sales for retail travel agencies. In addition, households and businesses have flocked to direct online booking, information and payment systems, o
16、nly a few of which are linked to operators in the Global Travel Arrangement and Reservation Services industry. Sluggish global economic growth over the past five years has adversely affected household disposable income, and thus expenditure on travel. According to the UN World Tourism Organization,
17、there was a 4.3% decline in international travel in 2009. International arrivals fell 6.0% in Europe, 5.0% across the Americas, 6.0% in the Middle East and 2.0% in Asia and the Pacific. However, Africa bucked the trend and recorded 5.0% growth. Many regions experienced poor performances in their dom
18、estic tourism markets, as the economic recession deepened. Late in the year, a strong rebound in international demand occurred across the Middle East, Asia and the Pacific, areas that were not as badly affected by the global economic meltdown. Furthermore, according to Deloitte, hotel occupancy rate
19、s began to improve late in the year in some key tourist destinations. Industry revenue growth is affected by the relative price of international travel, which is directly linked to exchange rate movements between countries and regions. The price of travel is also affected by the price of fuel. High
20、fuel prices in 2008 led to high travel costs, as airlines and other transport companies increased prices to cover the cost of fuel. Industry revenue is also influenced by the age of travelers, the time they have available to travel, and their cultural and family links. Other types of leisure and rec
21、reation compete with industry players for a share of household disposable income. In addition, travel agencies face competition from online travel booking systems, due to the cheap products and services available and the convenience of arranging travel bookings from home or the office. To counteract
22、 this, travel agencies must employ experienced staff with good knowledge of travel products. They must also maintain good relations with travel operators and clients, and understand market niches. The story so far Over the five years through 2011, industry employment is expected to increase at the m
23、arginal average annual rate of 0.5% to 2.5 million people. Profit declined in 2008 and 2009, due mainly to increasing competition from online travel agency operations and significant price-based competition on travel packages. Heavy discounting of fares and packages also ate away at profit margins.
24、However, profit improved slightly in 2010. Subdued revenue and profit growth has resulted in industry consolidation. In early 2007, Thomas Cook launched a $5.5 billion bid for fellow European travel services provider MyTravel Group. The new entity was renamed Thomas Cook Group Plc. In March 2007, TU
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- Industry Report Global Travel Agencies Services
链接地址:https://www.31doc.com/p-3771732.html