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Source Market Insights: Israel

  • October 2015
  • -
  • GlobalData
  • -
  • 15 pages

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Summary
Israel has a sophisticated tech economy and a highly educated population, its economy has consistently been one of the more robust in the Middle East. However, a growth in income inequalities, alongside the never-ending instability brought about by the Israeli-Palestinian conflict, has seen Israel's economy and consumer confidence suffer in recent years, with GDP growth falling from 3.2% in 2013 to 2.8% in 2014. Nevertheless, the Israeli economy is accustomed to high risk security issues, with a governmental emphasis on carrying on as normal even when violence escalates. With this, Israeli outbound trips reached 5.1 million 2014 and are expected to increase to 7 million by 2019

Key Findings
In June 2013 Israel signed an 'Open Skies' agreement with the European Union, to be phased in by 2018. The agreement has opened up routes to more carriers, and led to an increased availability of cheaper seats and destinations. The agreement has vastly increased competition in the Israeli aviation market, making tickets cheaper for consumers.
Post-army Israeli backpackers represent a US$150 million annual opportunity for the global tourism industry. As these consumers they often have a year off following military service, they tend to take longer trips and spend three times more than the average international tourist; the United States and India are popular destinations.

Synopsis
Canadean's report - “Source Market Insight: Israel” provides detailed information on the Israeli outbound tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

What else does this report offer?

- Detailed market analysis, information, and insights, including:

- Historic and forecast tourist volumes and values covering Israel's 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 Israel's outbound tourism sector.

Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to Israel's Outbound Travel and Tourism sector

- Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities

- Direct the promotional efforts on most promising markets by identifying the key source and destination countries

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