¨While tourism is often resource-intensive, it is a major driver of poverty reduction in developing countries.¨
The future of growth in the travel industry lies in Emerging country.
Between the early 2000s and 2014, for example, the percentage of foreign travelers (excluding Canada and Mexico) to the US from Emerging Countries increased from one-third to over one-half of all visitors.
How are Travelers From Emerging Countries Changing the Travel Industry?
Travelers from Emerging Countries are also changing the travel industry. They spend more, on average, per purchase than tourists from the developed world. The power of Emerging Country customers is particularly notable at retail, high-end stores featuring well-established luxury brands.
The airline market in the Emerging World is growing by leaps and bounds. Growth in air traffic in the Asia-Pacific region and Africa is three times that of the US. Plus, the top 10 fastest growing airports in the world are all in Emerging Countries. (Note: I am amazed at the high quality of Asian airports vs. the poor state of many US and European airports).
Leading hotels and cruise lines focus much of their new investment on Emerging Countries. To capture this market, hotels are adding new smart and model technologies that are familiar to Asian tourists.
In addition, cruises are now marketed more and more to Emerging Countries’ markets. The potential for growth in these markets is incredible. Only a very small percentage of Asians, Africans, and Latin Americans have been on a cruise. Emerging economies also add millions of people every year with enough disposable income to take a cruise. (Cruise companies, in response, offer more cruises in Emerging Countries which feature cuisines from that local area).
People from Emerging Countries are also traveling more within their own countries. Between 2008 and 2013, Mexico saw a decrease in travelers from the US. However, the tourist industry survived because of a significant increase in the number of Mexican tourists within their own country. (The number of travelers from Europe to Mexico also increased during the period).