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Albany, NY -- (SBWire) -- 10/20/2014 --Synopsis:

The report provides detailed market analysis, information and insights, including:

Historic and forecast tourist volumes covering the entire UK travel and tourism sector

Detailed analysis of tourist spending patterns in the UK for various categories in the travel and tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transport, retail, travel intermediaries and others

Detailed market classification across each category, with analysis using similar metrics

Detailed analysis of the airline, hotel, car rental and travel intermediaries industries

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Executive summary

The UK travel and tourism sector suffered from the global economic crisis in 2009 and 2010 but recovered, in part, due to the hosting of the Olympic and Paralympic games in London in 2012. The tourism sector performed well during the review period (2009–2013) and the government is making efforts to attract more tourists to visit and explore the country. The government-funded VisitEngland campaign is an example of the actions taken to increase domestic and international tourism.

Scope

This report provides an extensive analysis related to the tourism demands and flows in the UK:

It details historical values for the UK tourism sector for 2009–2013, along with forecast figures for 2014–2018

It provides comprehensive analysis of travel and tourism demand factors, with values for both the 2009–2013 review period and the 2014–2018 forecast period

The report provides a detailed analysis and forecast of domestic, inbound and outbound tourist flows in the UK.

It provides comprehensive analysis of the trends in the airline, hotel, car rental and travel intermediaries industries, with values for both the 2009–2013 review period and the 2014–2018 forecast period.

Reasons to buy

Take strategic business decisions using historic and forecast market data related to the travel and tourism sector in the UK.

Understand the demand-side dynamics in the UK's travel and tourism sector, along with key market trends and growth opportunities.

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Key highlights

Domestic tourism was the main contributor to UK tourism, with expenditure from domestic tourism valued at GBP80.5 billion (US$125.7 billion) in 2013, while inbound tourism expenditure totaled GBP22.9 billion (US$35.8 billion). Domestic tourist volumes were higher: 122.9 million tourists in 2013, compared to only 32.8 million international tourist arrivals in same year.

The national tourism authority of UK, VisitBritain, launched a tourism growth strategy in April 2013. The idea behind the strategy was to build on the success of the London 2012 Olympic Games and attract 40 million international arrivals per year, earning GBP31.3 billion (US$48.9 billion) by 2020.

A number of events of national and international importance took place in the country during the review period such as the London 2012 Olympic and Paralympics games, and the week-long celebration of Queen’s Diamond Jubilee. These events provided the UK with an opportunity to advertise itself as a key tourist destination.

Business tourism remains a major contributor to international arrivals in the UK. According to VisitBritain, the event tourism market was valued at GBP36 billion (US$57.1 billion) in 2012, which is expected to increase to GBP48 billion (US$76.2 billion) by 2020.

The UK is perceived as one of the most expensive destinations in the world. The WEFTT competitiveness index ranks the UK as 138th of 140 countries in terms of price competitiveness.

UK inbound tourism grew during the review period, as the number of international arrivals rose from 29.9 million in 2009 to 32.8 million in 2013, at a CAGR of 2.36%. The growth in international arrivals and expenditure can be attributed to international events such as the 2012 Olympic and Paralympic Games and the Queen’s Diamond Jubilee; the government’s tourism promotion efforts (such as the GREAT Britain campaign launched in 2012) and the rise in business-related tourism.

International departures from the UK decreased slightly during the review period from 58.6 million in 2009 to 58.5 million in 2013. Decreases in household incomes due to high inflation rates had a negative impact on residents’ preference for outbound travel.

Countries that gained popularity in 2013 (Mexico, Tunisia and Morocco) are all countries where beach and culture holidays can be combined. UK trips to Mexico, Morocco and Tunisia recorded a sharp increase in 2013, at respective rates of 54.0%, 28.6%, and 17.1%.

The UK’s aviation market performed well during the review period, with total revenue increasing from GBP25.4 billion (US$39.6 billion) in 2009 to GBP28.3 billion (US$43.9 billion) in 2013, at a CAGR of 2.72%. Fluctuations in the aviation market during the review period have been affected by a mix of factors, such as fuel cost, the ‘volcanic ash’ crisis in 2010 and the London 2012 Olympics.

The UK’s hotel market profited from an increase in the number of domestic and international visitors during the review period. Total hotel revenue increased at a CAGR of 7.54% from GBP20.1 billion (US$31.5 billion) in 2009 to GBP26.9 billion (US$42.1 billion) in 2013. Room occupancy rates increased from 67.2% in 2009 to 73.5% in 2013.

The UK’s car rental market value rose at a review-period CAGR of 2.61%, from GBP2.2 billion (US$3.5 billion) in 2009 to GBP2.5 billion (US$3.9 billion) in 2013. Growth was fueled by an increase in international visitors and domestic tourists, as well as a rising number of business events.

The UK’s travel intermediaries’ industry value increased at a review-period CAGR of 4.04%, from GBP30.4 billion (US$47.4 billion) in 2009 to GBP35.6 billion (US$55.4 billion) in 2013. This growth will be driven by increases in leisure and business travel, and the associated rise in online bookings.

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