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Source Market Insights: United States

Source Market Insights: United States

  • April 2017
  • 18 pages
  • ID: 5043298
In this report:
According to the US State Department just ##% of Americans hold a valid passport, compared to ##% for British citizens.
While the US is one of the top tourism spending nations in the world with over $## billion spent in 2016, of this most of the expenditure is on retail and transportation, accounting for over ##% of all outbound spending.
However, with improving US GDP rates and an increasingly positive unemployment rate falling to ##.##% in 2016, the US. dollar is at its strongest level in years.

Summary

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Source Market Insights: United States

Brief

United States has seen growing numbers of consumers opt for outbound travel in new years with 2016 seeing a 8.20 percent increase in trips. This growth has been fuelled by drivers including the expansion of the LCC market share in the U.S., with airlines including British Airways' additional long haul LCC, 'Level' entering the sector. It is expected that global outbound trips to reach over 96.5 Million by 2021.

With over 80 Million outbound trips made in 2016, the U.S. has seen positive growth over the past year. Of this 53.0 percent is accounted by leisure trips with over 52 Million outbound leisure trips made final year. Since Donald Trump's election the strength of the US dollar has appreciated with the most important destinations for the U.S. - Canada (CA) and Mexico (MX) 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 various of the world's most famous cultural sites. According to the US State Department just 36.0 percent of Americans hold a valid passport, compared to 75.0 percent for British citizens. Yet in new years record numbers of Americans have applied for passports, with passport ownership up by over 20.0 percent in 2016.

While the U.S. is one of the best tourism spending nations in the globe with over $245.0B spent in 2016, of this most of the expenditure is on retail and transportation, accounting for over 56.0 percent of all outbound spending. Given that outbound flights to popular destinations in Europe (EU) 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 market research "Source Market Insights: United States" offers exhaustive market analysis, data, and industry insights.

Strategic analysis report:

- Historic and forecast tourist volumes and values covering US outbound tourism sector.

- Detailed analysis of tourist spending patterns for several categories in the travel and tourism sector, including purpose of spending and most important source markets.

- Detailed analysis of the market trends in the US outbound tourism sector.

Overview

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

Great reasons to purchase

In-depth market analysis, info, and business insights, including -

- Historic and forecast tourist volumes and values covering US outbound tourism sector

- Detailed analysis of tourist spending patterns for different categories in the travel and tourism sector, including purpose of spending and best source markets

- Detailed analysis of the market trends in the US outbound tourism sector.

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