Industry Background:
The market for Travel Activities includes all of the activities that travelers do while on vacation, which excludes transportation, accommodation, and meals. It encompasses all of the sightseeing activities, attractions, museums, outdoor, food experiences, day trips, shows, and wellness. The countries with the highest number of activities are the most touristic countries, with the United States at the top, followed by popular European travel destinations (Italy, Spain, France, United Kingdom, Portugal, and Greece). Australia, thanks to its array of outdoor activities, also received a high ranking. Vietnam and China have earned the top ranking for Asian countries. According to the World Travel and Tourism Council, The World Travel and Tourism Council has warned the COVID-19 pandemic could cut 50 million jobs worldwide in the travel and tourism industry. Asia is expected to be the worst affected. Once the outbreak is over, it could take up to 10 months for the industry to recover. The tourism industry currently accounts for 10% of global GDP.
This growth is primarily driven by Increasing Disposable Income and Government bodies and organizations such as the World Tourism Organization UNWTO are promoting tourism in order to attract diverse tourists across the globe.
Globally, a noticeable market trend is evident Rising travel activities in emerging economies
. The Tourism sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Musement (Italy), Viator (United States), Klook (Hong Kong), GetYourGuide (Germany), Headout Inc. (United States), Airbnb (United States), Civitatis Tours (Spain), Expedia Group (United States), Tripadvisor (United States) and Trip.com Group (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Increasing Disposable Income
- Government bodies and organizations such as the World Tourism Organization UNWTO are promoting tourism in order to attract diverse tourists across the globe
Market Trend
- Rising travel activities in emerging economies
- Increasing Popularity of Adventure tourism among youngsters
Restraints
- The growing concern related to risk involved in unpredictable weather condition
Opportunities
High Demand due to attractive Marketing and Promotional Strategies and Growing Demand due to the increasing popularity of global sports and game events
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Travel Activities Study Sheds Light on
The Travel Activities Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Travel Activities industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Travel Activities industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.