The global tourism industry is expected to attract 1.1 Billion world tourists by 2010 owing to opening of new tourist destinations and improving living standard of people in developing countries.
According to Travelmole, an Internet community for travel and tourism industry, the world tourism industry is expected to have 1.1 Billion global tourists by 2010, as reported by EssentialTravel.
Despite environmental concerns and problems in the global economy, the industry would continue to grow in future. It is expected that there will be a huge increase of around 600% to 2.1 Billion people living in developing countries and earning more than $16 000 by 2030. These large figures indicate that now traveling is emerging as a serious option in the rapidly growing social sections.
According to the industry experts, the global tourism industry is rapidly growing due to fast opening of new tourist destinations and slowing down of the old ones. This is providing more opportunities to the global tourism industry to expand its realms. Developing countries, particularly India, Latin America, Ex Soviet Union and China, are aggressively promoting their tourism industry on the back of strong economic growth and improving status of the people. People in these countries prefer to spend their leisure time in traveling which is boosting growth in the global tourism industry.
Moreover, sustainable growth sections of the tourism industry, like Lifestyles of Health and Sustainability (LOHAS), have shown impressive gains in terms of tourist traffic. This has emerged as a premier market and a natural partner for sustainable tourism. Apart from these, improving medical facilities and growing diseases worldwide also opened new growth avenues for the global tourism industry as increasing number of tourists are visiting in and out of their country.
However, the industry experts believe that two critical problems of rising fuel prices and inflating cost of food items might retard the growth of the industry. People worldwide could face financial difficulties as the essential commodities are getting costlier day-by-day.
According to a Senior Research Analyst at RNCOS, “The global tourism industry is rapidly growing with improving financial status of people worldwide. However, there are certain challenges before the industry in the form of inflating prices of fuel and food and environmental problems. Considering that these problems could not be resolved in short term, the industry players have to attract people by offering decent service and low priced traveling packages.”
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Indian Tourism Industry Analysis
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China Tourism Industry Analysis (2007-2011)
