NEW YORK, March 23, 2017 /PRNewswire/ -- Travel and Tourism Industry Business Confidence Report H1 2017
The existing economic environment is stable for the travel and tourism industry during H1 2017 (February 2017-July 2017). Survey results reveal that executives operating in the Asia-Pacific and North America project a more favorable opinion about the economic prospects in these regions for H1 2017. Growing affluence, rising disposable income, high demand of internet and smartphones that increases the convenience of flight and car rental booking, affordable prices, and increasing demand for car rentals on a daily basis are contributing to positive expectations about consumer confidence over the next six months. Executives foresee an increase in expenditure on new product development over the next six months. Moreover, customer retention and improving operational efficiency are the main priorities for survey respondents in H1 2017.
GlobalData's Travel and Tourism Industry Business Confidence Report examines executives' opinion about the business environment during H1 2017. It also highlights existing economic conditions, supplier price variations, sales performance, industry and company growth outlook, spending patterns, and key priorities. Additionally, the report provides information categorized by region.
What else does this report offer?
- Current state of the global economy: examines prevailing economic conditions globally and across various regions
- Company and industry growth outlook: provides industry executives' expectations towards the growth prospects of their company and the industry over the next six months
- Change in customer confidence: analyzes travel and tourism industry executives' opinion about the change in customer confidence during H1 2017
- Supplier prices projection: determines expected change in supplier prices across various categories and their impact on business confidence
- Change in staff headcount and sales performance: tracks expected change in staff headcount and sales for H1 2017 among industry executives globally
- Significant investment activities: highlights various areas in which industry executives intend to invest over the next six months
- Business concerns: provides information about potential business concerns indicated by survey respondents for H1 2017
- Key priorities: identifies the top priorities of industry executives operating in various regions
- In total, 33% of survey respondents state that the current economic environment is stable, whereas 38% of respondents indicate that the economic condition is very favorable or favorable.
- Only 29% of respondents who operate in Europe have favorable or very favorable opinion about the region during H1 2017.
- The positive outlook towards company growth over the next six months is highest among executives with business operations in Rest of the World.
- The majority of respondents with business operations in Asia-Pacific anticipate a significant increase in consumer confidence during the next six months.
- Globally, 30% of Travel and Tourism industry executives expect an increase of 2% to 5.99% in the supplier prices of power and energy during the next six months.
Reasons to buy
- Helps organizations to make effective business strategy decisions by knowing the prevailing business conditions and sentiment within the travel and tourism industry
- Organizations will be supported in business expansion decisions by providing information about projected change in sales performance and supplier prices
- Helps to improve operational efficiency of the organization by knowing about key priorities and the main concerns of travel and tourism industry executives
- Helps to alter investment allocation by understanding key focus areas highlighted by survey respondents during H1 2017
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