|
|
 |
|
Viewing report
|
|
|
|
Leisure and Luxury Travel Trends in Latin America
Euromonitor International, Sep 2010
Key Findings:
- The tourism industry was one of the hardest hit by the recession. Tourism expenditure, which includes incoming tourist receipts and domestic tourism expenditure, fell by 8.4% worldwide. This was the largest decline of the decade.
- Tourism expenditure in Latin America declined by 11.5%, the fourth worst decline of the regions. The global recession and H1N1 outbreak curbed demand and lead to aggressive discounts.
- Countries saw an increase in arrivals in 2009 thanks to intra-regional travel. Colombia saw the largest increase due to the growth in low cost airlift between Colombia and the US. Argentine departures boosted arrivals to the Southern Cone.
- Domestic trips grew by 0.3% in 2009, but spending plummeted 13%. Domestic tourists, facing the recession, cut back dramatically on their travel expenses and took advantage of deals.
- While luxury travel suffers globally due to the economic crisis, travel industry players in Latin America are investing in luxury infrastructure to appeal to local and international travellers during and after the economic crisis.
- The slow economic recovery, especially in the US and Western Europe, is expected to lead to very modest growth international tourism to the region. Domestic tourism is expected to perform better due to robust economic growth within the region.
- The permanence of “travel thriftiness” may hurt the industry’s ability to raise prices. Furthermore, security and violence issues could undermine tourism.
- Brazil and Canada will be important source markets in the near and long term. Business and luxury travel will be fast growing niche segments. The World Cup in 2014 and Summer Olympics in 2016 provide opportunities for sales and marketing.
Customers who bought this item also bought
Travel and Leisure - Global Outlook
Travel and Tourism in Brazil, Key Trends and Opportunities to 2015
Speciality Tourism - Global Outlook
Travel and Tourism in Brazil, Key Trends and Opportunities to 2016: Hosting of FIFA World Cup and Olympic Games to Promote Tourism Growth
Travel and Tourism - Paraguay
Travel and Tourism in Zambia
Travel and Tourism in Argentina
Travel and Tourism in Mauritius
Travel & Tourism Market Review 2010
Travel and Tourism in Italy
|
|
|
|
