Source Market Insights: United States

2017-04-11
Price :
Published : Apr-2017
No. of Pages : 18

Source Market Insights: United States

Summary

United States has seen increasing numbers of consumers opt for outbound travel in recent years with 2016 seeing a 8.2% increase in trips. This growth has been fuelled by drivers such as the expansion of the LCC market share in the US, with airlines such as British Airways’ new long haul LCC, ‘Level’ entering the market . It is expected that total outbound trips to reach over 96.5 Million by 2021.

With over 80 Million outbound trips made in 2016, the US has seen positive growth over the past year. Of this 53% is accounted by leisure trips with over 52 Million outbound leisure trips made last year. Since Donald Trump’s election the strength of the US dollar has appreciated with the top destinations for the US – Canada and Mexico being significantly cheaper to travel to. While inbound travel to the USA has become relatively more expensive, US outbound travel continues to grow in a positive direction as trips become relatively cheaper.

The US outbound market has traditionally faced steep opposition from the domestic market, which offers Americans cheap and easy access to many of the world’s most famous cultural sites. According to the US State Department just 36% of Americans hold a valid passport, compared to 75% for British citizens. Yet in recent years record numbers of Americans have applied for passports, with passport ownership up by over 20% in 2016.

While the US is one of the top tourism spending nations in the world with over $245 billion spent in 2016, of this most of the expenditure is on retail and transportation, accounting for over 56% of all outbound spending. Given that outbound flights to popular destinations in Europe and the Caribbean are quite expensive for US travellers, this is a trend that is likely to continue. As such GlobalData has forecast that both retail and transportation will continue to account for over half the market share of US outbound spending by 2021.

The report “Source Market Insights: United States” provides detailed market analysis, information, and insights.

In particular, this report provides the following analysis –
– Historic and forecast tourist volumes and values covering US outbound tourism sector.
– Detailed analysis of tourist spending patterns for various categories in the travel and tourism sector, such as purpose of spending and top source markets.
– Detailed analysis of the market trends in the US outbound tourism sector.

Scope

– New international LCC routes will expand in the US in 2017, particularly to smaller second tier airports such as Providence, Rhode Island and Bradley International ,Connecticut. Such expansion will predominantly bolster travel to European countries such as France, Britain and Ireland, who all rely on the US tourists as a significant source market.

Reasons to buy

Detailed market analysis, information, and insights, including –
– Historic and forecast tourist volumes and values covering US outbound tourism sector
– Detailed analysis of tourist spending patterns for various categories in the travel and tourism sector, such as purpose of spending and top source markets
– Detailed analysis of the market trends in the US outbound tourism sector.

Filed in: Travel & Tourism
Publisher : GlobalData
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