Day 8: Going international? Some travel statistics

Welcome back to BizLaunchBlog.com! Thanks for following me on my quest to launch and develop an online business as a gift for my wife. Share your advice, comment on a post and tell your friends... Peace, JMichael

Hola! Let

Thanks for your input thus far.  I have received some excellent information regarding travel-related businesses.  I am continuing to explore this area for possible business opportunities as I prepare to launch and develop a new online business as a gift for my wife.

Some people have claimed travel is not a good industry to enter into right now because of the present economic environment here in the US.  Yet the data seems to suggest that times are good for travel, especially when considering the global opportunities.  US travel may be slightly lower than it was in 2007 but it also appears that 2007 was an unusually strong year in the industry.  I have spent some extra time sorting through travel statistics in an effort to get a better feel for what is happening in the world of travel.  Here are some things I have come across.

The World Travel & Tourism Council (WTTC) estimates total world personal travel and tourism expenditures (that is, both direct and indirect spending) at $3.2 trillion for 2008 (growing to $5.4 trillion in 2018), with business travel an additional $843 billion on the same basis (growing to $1.4 trillion in 2019).

In the WTTC’s figures, the U.S. accounts for $1.4 trillion in direct plus indirect travel expenditures in 2008, followed by China at $508 billion and Japan at $438 billion. By 2018, the organization forecasts the U.S. number to grow to $2.4 trillion, with China surging to $2.0 trillion and Japan climbing to $637.8 billion. Obviously, China is the market to watch, with 100 million Chinese expected to travel to foreign lands in 2018.

E-commerce continues to play an extremely important role in the travel sector, making booking convenient for consumers and more cost-effective for travel providers.

The cruise line business has held up relatively well. For example, Carnival, the largest cruise company, managed to keep profits for the first half of 2008 equal to those of the same period in 2007, despite vastly higher fuel costs. Consumers see cruises as high-value package deals, and cruise ships are nearly full. Carnival is continuing its aggressive new ship construction schedule.

On a very positive note, economies in many parts of the world are much stronger today than they were in the 2001 through 2003 travel slowdown. Business travel to certain nations is absolutely booming, especially India, China and Dubai. Tourism has been extremely strong in New Zealand and parts of Eastern Europe, as well as in many new or alternative travel destinations around the world. Ecotourism and adventure tourism are booming. Spas are the hottest thing in fine hotels, bringing in much-needed additional hotel revenues. Tourists from Europe and Asia are flocking to U.S. cities to take advantage of bargain prices due to the relatively low value of the U.S. dollar.

source: Plunkett Research, Ltd.

It would seem that a travel business with an international marketing plan and a global reach could be quite successful given the present travel statistics.  According to the World Tourism Organization, from January through April 2008 international tourist arrivals grew by about 5% when compared to the same period in 2007.

It appears people are traveling both in the US and abroad.  I am guessing that people are looking for ways to ‘get away’ even in the present economy here in the US.  And it seems that people would be looking for ways to save even more money when they travel.

I am curious as to your thoughts on the travel industry, especially those of you who are in travel-related businesses.  What have you been experiencing?  Also, does your business have an international appeal or are most of your customers/clients/etc from the US?

Your input is very much appreciated as I continue to investigate the possibilities.

Speaking of international, I just learned from my website statistics that I have had visitors to this blog from the following countries: US, Canada, Denmark, Australia, Belgium, Finland, Austria, Sweden and Singapore!

How cool is that!  I would love to hear from any of you from countries other than the US, especially if you are involved in the travel industry. What are you experiencing?