MARKET RESEARCH
During the current period of strong economic growth, Fugitives can capitalize on the many significant opportunities in the travel industry. Spending on accommodation is the industry's biggest source of revenue. This component can be segments in a number of ways, including by star rating or by accommodation style (hotels, resorts, serviced apartments, guesthouses and bed and breakfasts). Visitors tend to demand different accommodation depending on the purpose of their trip, the length of their stay, their budget and size of their travel party.
Economic and Social Factors
Service industries represent the fastest growing sector of the national economy, and travel and tourism agencies are poised to flourish today.
These services are projected to grow at an average annual growth rate of 4.1 percent over the period from 1990 to 2010. The travel and tourism industry thrives in a vital economy.
Competitive Environment
Currently, the quality level of service and the number of providers in the travel industry constantly fluctuate broadly uneven, and providers enter and leave the field rapidly. Our competitive edge will be in attracting and retaining our customers with the most highly trained and well-informed individuals we can recruit. With our expertise in European adventure vacations, we will be able to provide the most accurate, up-to-date information possible.
Long-Term Opportunities
Tourism in general is on the rise, Europe looks like it will continue to be the major destination, and the Internet will be an important channel into this market. The state of the economy will be the most influential factor in how many people travel. Other driving forces for travel will include the cost of tickets, fuel prices, the threat of terrorism, and currency rates.
Market Size and Description
The Global Tourism industry is worth an estimated $1.4 trillion in 2013, with revenue rising at an annualized 2.5% over the past five years. However, this hides a...