This South America Tourism Spend Analytics Forecast market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving South America Tourism Spend Analytics Forecast market.
Tourism is one of the main pillars of the economies of the South America region. A rich culture and immense diversity, architectural wonders, natural and scenic beauty, lively and colourful cities, and beautiful landscapes are the main reasons due to which millions of tourists visit the South America region every year. The recently concluded Olympic Games and Football World Cup in Brazil also had a positive effect on the development of tourism in South America. The sectors that contribute to the tourism spend are the hotel industry, the food and beverages industry, the travel industry and the entertainment industry to name a few. The tourism industry contributes to the economic development of every region and helps by being the main employment generator.
South America Tourism Spend Analytics: Drivers and Restraints
Growing economic prosperity the world over, especially in the Asia-Pacific region is positively effecting the arrival of tourists in the South America region. Besides, the relative political stability in the South America region combined with it being safe for tourists is also driving the flow of visitors into the region. A growing disposable income and the increase in ageing population of the world who have both the time and monetary resources for travel also have a positive impact on the tourism industry in the South America region. However, the incidence of the spread of the Zika virus in the South America region, especially Brazil, had a negative effect on the tourist inflow to some extent in the region.
South America Tourism Spend Analytics: Key Statistics
As per the data provided by the World Travel and Tourism Council, in South America, the travel and tourism sector contributed US$ 152.3 Bn to the GDP of the region in the year 2014, which comprises 3.4% of the total GDP of the South America region. This is projected to rise by 3.6% per annum from 2015 to 2025, reaching US$ 221.1 Bn by the end of 2025, comprising 3.5% of the total GDP of this region in 2025. As per the World Travel and Tourism Council data, visitor exports amounted to 5.6% of the total exports in the year 2014 in the South America region, generating a total of US$ 43.5 Bn in revenues. These figures are foreseen to grow by 5.3% per annum from 2015 to 2025, generating US$ 74.1 Bn in revenues in the year 2025. Visitor exports is the money spent by foreign tourists in a particular country or region. As per the data from the same source, international tourist arrivals in the South America region are estimated to be 66,351,000 in the year 2025.
As per the World Travel and Tourism Council data, leisure travel spending comprising inbound and domestic tourists generated 82.1% of the travel and tourism GDP in the year 2014, amounting to US$ 231.3 Bn. On the other hand, business travel spends were 17.9% of the travel and tourism GDP in 2014, generating US$ 50.5 Bn. This segment is expected to grow by 3.5% per annum amounting to US$ 73 Bn in the year 2025. Side by side, spending on the leisure travel segment is expected to grow by 3.8% per annum to reach a figure of US$ 340.6 Bn in the year 2025.
This comprehensive report equips readers with lucid information and analysis on the sector. Future Market Insights’ experienced travel and tourism analysts bring to you accurate and unbiased information to help you make crucial decisions with confidence.
The report offers a 360° view – bringing to the fore key drivers, restraints, opportunities, and challenges prevailing in the sector. To offer readers actionable insights, detailed information on historical trends, current scenario, and future projections is provided in the report.
The report specifically focusses on the leading companies operating in this sector, highlighting their key developmental strategies. A holistic analysis of the leading players is highlighted to help decision makers understand the overall competitive landscape.
What Can Readers Expect from this Report?
- An overview of the sector, including the key factors that have shaped patterns and demand
- Not just data, but insights that you can incorporate in your strategic decision making
- Nuanced underlying factors that influence consumer behaviour
- Data points to understand the past, analyse the present, and project the future
- Trends that will impact the sector in the short- and long-term
- Deeper understanding of the target audience, their motivations, aspirations, and expectations from service providers
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South America Tourism Spend Analytics Forecast
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the South America Tourism Spend Analytics Forecast report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the South America Tourism Spend Analytics Forecast. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from South America Tourism Spend Analytics Forecast report?
In addition to up-to-date market figures and customized of the South America Tourism Spend Analytics Forecast, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.