Glance at Global Tourism Market

Travelling…one of the best ways to spend leisure time. Nowadays people travel with their friends and family to spend a refreshing holiday. Traveling gives change from daily routine. Every year ample of people travel various places for different purpose. Visiting beautiful holiday destinations and enjoying with beloved ones is the best pastime. It is like a dream come true. These holidays become sweet memories for us. The spending ability of people has increased and hence they can afford leisure travelling nowadays. On the contrary there are some people who could not afford a lavishing holiday and so they choose budget hotels and other such economic tourist spots while travelling. rnThe Ministry of Tourism is finding different ways for growth of the industry. Low growth rate of tourism industry may affect the economic stability of the nation. To improve the growth rate Ministry of Tourism is adopting various policies. These policies are in concern to standards of World tourism Industry. The policies set by Ministry of Tourism aims at making the marketing tools strong, hiring trained employees, set out national level programs, conduct productive research, development of infrastructure and much more. rnAccording to market research reports tourism industry is a rapid developing industry. Through statistical data in research reports it is found that tourism industry makes up to 11% of GDP in global scenario. In tourism industry research reports it is determined that more than 200 million people across the globe are engaged in this industry. It is also determined that more than 700 million people travel international places every year. rnOther industries which are dependent on tourism industry for their growth are also growing rapidly. Some of the dependent industries are as follows hotels and lodging services, food and beverage industry, real estate industry, retail market, transportation industry and many more. As per 2007 market research by UNWTO there was an influx 15 million people more as compared to previous year. In the market data book the growth rates of different regions were determined as follows Asia and Pacific 9% growth, Africa 8% growth, Middle East 8% growth, Europe 6% growth, and America 4% growth. rnThe trends of tourism industry have been changing rapidly. Demand for online travel booking and online hotel booking services increased. Several web developing companies came up with travel portals offering online hotel and travel booking services. Many budget and luxury hotel also started providing online hotel booking services on their websites. This helped to attract more number of customers. Many people prefer booking hotels online due to lack of time. Especially business executives who travel various places for meetings prefer online hotel booking. Online hotel booking portals provide details of hotels in various places. One can select any hotel as per their budget and facilities required. During peak season people prefer advance booking. They study the rates of various hotels to book one which is affordable for them.