Essay About International Travel Supplyvalue Chaininnovationtrends And International Travel Supplytravel Industry Structureattractiveness

International Travel Demand
International Travel DemandStatistics and SegmentationBy Origin and DestinationFfFfDemand TrendsDemand DriversTrends in Global DemandUncertainty – The Impact of Shocks on Demand (WEF)International Travel SupplyValue ChainInnovationTrends in Global SupplyDeveloping the international travel supplyTravel Industry StructureAttractiveness and Competitiveness FactorsValueGrowthRiskMarginOther factorsConcentrationKey Success FactorsStrategic GroupsStrategic Issues for the Travel IndustryProduct-MarketIntegrationInternationalisationDiversification and BrandingAlliancesFfFfExtraReaction to shocks (WEF)Responsible travelBehavioural approaches to demand upsurges – the case for destination popularityNational ReportInternational Travel DemandThe international travel market has continued to prosper over the years, both in volume and in monetary terms, mirroring wealth creation and income distribution. In fact, the correlation between income and propensity to travel is often referred to in the literature and is of structural importance for an understanding of international travel.On the other hand, the international travel industry has often become the subject of concerns with regards to uncertainty, instability, and demand-impacting shocks suffered by various socioeconomic agents. In fact, although regional turbulences have increasingly affected some specific areas of the global scenario, a generalised sense of riskiness related to travelling has frequently been spread over the international community. In particular, we shall analyse the cases of economic volatility, terrorism and political instability, and pandemics, and how these have impacted demand in the past and have been dealt with by economic agents.A detailed study of demand is therefore crucial for the understanding of the international business environment facing the travel industry and to conclude on how best to approach its specificities. Agents in the travel industry are advised to mind the demand-impacting factors approached in this report when taking business decisions, but also to seek further understanding of the industry – a framework on how to approach international business is presented in section 2.4.Statistics and SegmentationAnalysed by:OriginDestinationType of travel (including business and touristic products)Modes of travel (including car rentals)Modes of stayType of travellerDemand TrendsTravelling remains in an upward, growing trend, even in spite of recent war-related conflicts, terrorist events, and pandemics. In fact, the increase in outbound trips during the first eight months of 2014 (+4.5%) suggests that demand-creating factors still remain stronger than uncertainty and risk-related effects.