Tourism & leisure industry is one of the largest industries that comprises of recreational activities to improve overall well-being of an individual’s mind and body. It could be intended for business, education or vacation purposes. This industry comprises activities like travel, art, sports, lodging, dining, music, shopping, gambling and others. With limited leisure time and increasing travel costs, new-age travellers are harnessing information technology to make smart travel choices.
Demand in tourism & leisure market is expected to grow owing to the rise in disposable income, growing consumer awareness, booming hospitality industry, cultural attractions, launch of budgeted airlines, mobile technology as a travel tool and emergence of social media. Also citing the economic benefits, various governments are investing extensively in tourism development, making the visa process easier, tax free holidays and providing other travel-friendly facilities. Conversely, factors like heightened safety concerns due to terrorism, high fuel prices, uncertain economic and political environment are deterring the growth of the industry.
Business travel has evolved rapidly and it forms a huge part of the travel industry. Growth in business travel market is driven by maturation of key business travel markets. For such trips, the travel-related expenses are usually taken care by the traveller’s company. In terms of global business travel spending, China surpassed the U.S. as the largest business travel market. Apart from business travel, companies are also encouraging employees to go on leisure travels by sponsoring their trips. This is usually done to improve workforce productivity, reduce stress and improve overall health and wellness.
In a move to preserve the natural environment, reduce carbon footprint and encourage ecotourism, green travellers have emerged as the new generation of tourists. These tourists increasingly prefer low-impact nature tours & eco-friendly practices in their lodging facilities. From online booking agents to hoteliers everyone is upgrading their green ratings to make a positive impact on business sustainability and environment.
ASDReport.com provides extensive collection of reports on tourism & leisure market. The reports cover various topics like adventure tourism, wellness tourism, sustainability in the travel and tourism market and much more.