After a rough year in 2009, global tourism has made a slight comeback this year. In 2010 there was small growth of .05%, and the future looks promising with expected growth of 4.5% in coming years. There was positive growth in all world regions in the first two months of 2010, with Asia and the Pacific in the lead with a growth rate of 10%. Both the United States and Europe had less development, as they were hit hardest by the recent recession.
Two main factors of recovery for international tourism in 2010 are the improving economy as well as high profile events like the World Cup in South Africa and the 2010 Olympics in Canada. These events played a large role this year as they brought unusually large numbers of tourists to these destinations.
There is no doubt that tourism is on the rise, but there is current demand for value vacations as people look for the best deals for their budget. Although consumers are searching for good deals, it doesn’t mean they have let go of their idea of a vacation. Luxury is still found to be important when planning a vacation, and this ideal will continue to increase as the economy improves. Tourists also find the same places to be appealing, with France, the U.S., and Spain being the most popular destinations.
Tourism should continue to increase in upcoming years as people earn more income and feel more comfortable spending in an improved economy. 2010 was the first step to tourism recovery, and the industry looks like it will continue to boom in the following years.
Stay tuned to our blog this week for more exciting insights on tourism! Topics will include how social networking is changing travel, tourist hot spots, and current trends for the industry. We hope you'll be back later this week!