Published Date : May 16, 2016
Albany, New York, May 16, 2016: MarketResearchReports.biz has recently added a new research report to its ever-expanding database. The research report titled, “United Kingdom Outbound Travel Market - Trips & Spending To 2020,” evaluates the spending patterns of consumers in this market and examines the progressive nature of revenues. The report has been collated using primary and secondary research methodologies in order to explain to its readers the various trends and dynamics governing it. Furthermore, the United Kingdom outbound travel market has also been studied from the political, social, economic, and legal point of view to gain a holistic outlook of the upcoming developments.
Currently, United Kingdom is one of the top five spenders in the international tourism industry. According to the research report, the country’s outbound tourism market is set to reach a revenue figure of US$70 bn by the end of 2020. This positive trend will be fueled by the growing per capita income of travelers of the United Kingdom along with a strong currency. In terms of volume, the outbound travel market will touch 80 mn by 2020. Due to the cultural similarities and lesser distances, the frequented destinations by UK travelers are France and Spain, followed closely by the United States.
Out of all the popular destinations frequented by tourists, the United States emerged as the most popular one. This destination is expected to remain a popular choice for the UK travelers all through 2020. The second most traveled destination in the coming years will be India, followed by Australia in the third place. The 10 countries covered in the United Kingdom outbound travel market are the United States, Australia, India, Japan, Singapore, Cambodia, New Zealand, South Africa, Korea, and China. The report provides a thorough explanation of the spending habits of tourists in these countries along with analyzing the purpose of visit to these places such as leisure, holiday, business, and others.
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Analysts estimate that the attractive advertising campaigns, strong passport, rising disposable income, and love for travel will be the prime growth drivers for the United Kingdom outbound travel market. However, despite the rosy picture, this market will have to tackle challenges such as limited destinations of interest for UK bound travelers and strict travel laws being implemented by the US, which will create visa issues in the near future.
With the understanding of the historical data and a fair assessment of the current market situation, the research report maps a trajectory for the United Kingdom outbound travel market. The report is an excellent tool for all its readers to make strategic business decisions to maximize profits. The data has been gathered from several surveys, questionnaires, and through telephonic interviews with industry experts. Furthermore, the research report also includes opinions of expert industry leaders to provide a unique insight to all its readers.
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