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Travel and Tourism in the US
Euromonitor International, Sep 2009, Pages: 86
With the US economy deepening its downward spiral in 2008, the travel and tourism industry experienced mixed results. On one hand, outbound travel from the US to foreign destinations, as well as domestic travel, saw declines; however, international inbound travel continued to see significant gains, as tourists from Canada and Western Europe took advantage of favourable exchange rates. During the latter half of 2008, the financial crisis had a more global impact, which therefore led to a decrease in the volume of international tourists.
The price of a barrel of oil reached a record high US$147 in July 2008, which was over US$100 up on the price only five years previously. Given that oil is the greatest operating expense for airline operators, this undoubtedly caused greater hardships. Fuel surcharges were raised and services previously offered to customers for free were now charged a fee, as airline operators grew reliant on the much-needed ancillary revenues to offset rising costs. Capacity cuts, fleet reductions and layoffs were also prevalent amongst these struggling airlines. Even as oil prices declined in the latter half of 2008, airlines continued to struggle as travel plummeted among both leisure and business travellers.
The Travel and Tourism in the US report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest market size data (2002-2007), allowing you to identify the sectors driving growth. It identifies the leading companies and offers strategic analysis of key factors influencing the market, be they new legislative, technology or pricing issues. Background information on disposable income, annual leave and holiday taking habits is also included. Forecasts to 2012 illustrate how the market is set to change.
Sector coverage: travel accommodation, transportation, car rental, retail travel and tourist attraction markets
Why buy this report?
- Get a detailed picture of the travel and tourism industry;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market’s major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop
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