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Travel and Tourism Industry Business Outlook and Procurement Survey Dec 2017 - May 2018

Travel and Tourism Industry Business Outlook and Procurement Survey Dec 2017 - May 2018

  • January 2018
  • 36 pages
  • ID: 5284485
In this report:
Furthermore, according to a report jointly released by the China Tourism Academy and the data center of the China National Tourism Administration in December 2017, Chinese tourism revenue is expected to be more than US$## billion, an increase of ##% compared to 2016, and is projected to touch US$## billion in 2018.

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Travel and Tourism Industry Business Outlook and Procurement Survey Dec 2017 - May 2018

Brief

GlobalData's "Travel and Tourism Industry Business Outlook and Procurement Survey Dec 2017 - May 2018", examines executives' opinion on the business outlook and procurement activities over Dec 2017-May 2018, containing comparable analysis of survey results with Jun-Nov 2017. It also highlights main business priorities, supplier price variations, changes in capital expenditure, and organizations' perspective on e-procurement. Additionally, this industry report unveils the future projection of merger and acquisition activities within the travel and tourism industry over the next six months.

In comparison to the previous six months (June-Nov 2017), mergers and acquisition activity in the overall travel and tourism industry is expected to increase by five percentage points over the next six months (Dec 2017-May 2018), as a result of growing competition, economies of scale, and government policies. Even though growing competition and market uncertainty have been highlighted as main business concerns for the overall travel and tourism industry over the next six months, respondents are willing to increase their focus towards improving their operational efficiency and development in current markets.

Furthermore, emerging economies including China, India (IN), and Brazil (BR) are estimated to offer serious growth opportunities for the overall travel and tourism industry, due to increasing disposable income, favorable demographic factors, the availability of cheaper flights, and favorable government policies. On average, the overall travel and tourism industry's procurement expenditure is forecasted to increase by 7.20 percent over the next six months.

Why purchasing this study can help you?

- Key business priorities: examines travel and tourism organizations' crucial priorities for Dec 2017-May 2018

- Emerging and developed markets: offers info about top emerging and developed markets, which will offer the most growth over Dec 2017-May 2018

- Change in M&A activity: examines travel and tourism industry executives' opinion on changes in merger and acquisition activity globally

- Business concerns: distinguishes main business concerns that are likely to impact manufacturers and providers

- Change in capital expenditure: tracks the expected change in capital expenditure both globally and regionally

- Change in procurement activities: evaluates how procurement activities will change in the travel and tourism industry over the next six months

- Procurement budget outlook: projects procurement budget allocation together with changes in procurement objectives over Dec 2017-May 2018

- Supplier prices outlook: determines the expected change in supplier prices over Dec 2017-May 2018

- E-procurement: determines executives' perspective towards e-procurement implementation and deployment within the overall travel and tourism industry.

Overview

- Improving operational efficiency is expected to be a main priority for the overall travel and tourism industry over the next six months (Dec 2017-May 2018)

- Executives expect China (CN) to offer more growth in the six months of Dec 2017-May 2018

- Increased use of technology and internal operating cost reductions are the principal procurement objectives for overall travel and tourism organizations over the next six months

- Overall, 36.0 percent of executives anticipate their overall procurement budget to be up to US$100,000 over the next six months

- Of industry executives, 23.0 percent state that the deployment of e-procurement within their organization is limited.

Great reasons to purchase

- Travel and tourism companies can realign strategic management by comparing the business priorities over the next six months (Dec 2017-May 2018) compared to the previous six months (Jun-Nov 2017)

- Organizations can develop or adjust business expansion plans by knowing the meaningful growth offering emerging and developed markets highlighted in the market research

- Benefits organizations to adjust their procurement budget by providing information about procurement budget projections anticipated by executives for Dec 2017-May 2018

- Organizations can implement effective price management by viewing supplier price variations highlighted for Dec 2017-May 2018.

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