Specialty Tourism: A Global Outlook
San Jose, California (PRWEB) February 10, 2012
Follow us on LinkedIn – Tourism industry dynamics are significantly influenced by the highs and lows of the global economy as it affects the level of consumer confidence. As travelers from the developed nations make up for a large proportion of total tourists, the industry was hit hard by the recession that engulfed the global economy. Rise in unemployment rates, salary cutbacks and reduction in travel-related programs by businesses led to a considerable decline in number of tourists, thereby affecting the overall revenues. The effect was also evident on various sectors including leisure and business tourism, incentive travel, cruise tourism and shopping tourism, all of which witnessed a significant decline. A large number of regular travelers reduced their traveling frequencies, while new and prospective travelers deferred their travel plans. However, some tourism segments, specifically medical tourism, continued to grow despite the financial crisis. The tourism sector recovered in 2010 and exhibited growth in 2011 with consumer confidence and enthusiasm heading back to pre-recession levels.
Over the years, Specialty Tourism has responded to public’s interest in educational, health and active tours. Changes in technology, society and economy have led to increased ease in traveling. Traveling has become cheaper and convenient with the availability of more airplanes, air routes, surface vehicles, and roads. In addition, abundant and easily accessible information is provided to travelers. The specialty tourism market is expected to exhibit continuous growth in the coming years and become the dominant segment of the overall tourism industry.
Medical tourism is one of the fastest growing sectors in the tourism industry. Increasing health awareness levels, low medical costs, less waiting time are driving medical tourism, with a significant portion of the tourists flow directed towards developing nations such as India, Brazil and Thailand, among others. Asia-Pacific medical tourism industry accounts for a significant portion of the worldwide medical tourism market, with the region attracting travelers from Europe, North America and Australia largely due to the cost factor. The availability of well-qualified and skilled medical professionals and advanced medical techniques favors the region’s growth as the hub of medical tourism. Adventure tourism is another key sector of the leisure travel market, which includes a variety of outbound activities such as such as scuba diving, rock climbing, canoeing or kayaking, paragliding, mountaineering and windsurfing. Growth in the sector is driven by an upsurge in the number of enthusiasts venturing into adventure sports.
The research report titled “Specialty Tourism: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers an aerial view of the global specialty tourism sector, identifies major short to medium term market challenges, and growth drivers. Market discussions in the report are punctuated with fact-rich market data tables. Regional markets elaborated upon include the US, Canada, Mexico, Japan, France, Germany, the UK, Russia, China, India, Brazil, Thailand and Malaysia among others. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.
For more details about this comprehensive industry report, please visit –
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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