Global Tourism Industry And The Importance Of Emerging Markets

Up until the second world war technological, social and other factors meant that international travel was not feasible for the average traveller. With the changes in society, technology and transportation this became increasingly popular from the early 1970s. Increased incomes in US. much of Europe and Japan meant that people were able to afford travel to distant places. US, Europe and Japan were the biggest benefactors of this boom period.

This scenario persisted up until about late nineties. From late nineties emerging countries such as China and India started to come on the global stage. These countries started their industrialization and globalization processes. This meant that average middle class of these countries had incomes that were high enough. However the nature and type of traveller is slightly different to the traditional western traveller – say some analysts.

China is currently one of the biggest outbound tourism markets. Marketing Western tourism products and destinations are challenging in China due to the cultural, economic and other differences. Such differences exist between most of the emerging markets. Western tourism professionals generally prefer to target particular countries through specific tourism initiatives. With globalization and improved global connectivity even small operators in western countries can put their product on the global map to attract visitors.

With increasing connectivity and disposable incomes emerging markets are starting dominate world tourism numbers. Analysts say that emerging markets are set to dominate global tourism market for a long time to come. They strongly recommend the need to tailor the particular product for a particular emerging market in order to attract visitors. They also caution against taking a general approach as visitors from emerging markets can be extremely choosy.

Leave a Reply

Your email address will not be published. Required fields are marked *