March 2005
|
||||||||||||||||
National News World tourism growth fastest in 20 years The number of people visiting a foreign country rose 10 percent in 2004, the fastest rate in 20 years, as tourism picked up in the wake of the war in Iraq and the containment of SARS, according to the World Tourism Organization. About 760 million people took a foreign vacation last year, and tourism visits are predicted to gain about 5 percent this year. Worldwide tourism receipts from international travelers were about $474 billion in 2002, with the U.S., Spain and France the world’s biggest tourism markets. Driving Chicago’s motorcoach business A new study conducted for the American Bus Association Foundation and the Chicago Convention and Visitors Bureau finds that the motorcoach industry contributes more than $357 million annually to Chicago’s economy. A day-trip to the Windy City provides $7,667 to the city’s economy, while an overnight trip contributes about $11,673. The study, conducted by George Washington University, was released during the ABA Marketplace in Chicago. Business travel: Report signals recovery Business travel has reversed a seven-year slump, according to a new report. The Travel Industry Association, the National Business Travel Association and the Institute of Business Travel Management together said business and convention travel rose 3.8 percent in the first half of last year and showed even stronger gains in the third quarter. “We believe that U.S. business travel is finally in recovery and expect reasonably healthy growth over the next several years,” said Suzanne Cook, TIA senior vice president of research and technology. Business travel generated nearly one-third of domestic travel spending in 2003, or $153.2 billion, according to the joint report. The top convention destinations were Chicago, Las Vegas, Washington, D.C., Orlando and Atlanta. Top cities for general business travel were Chicago, Los Angeles/Long Beach, Washington, D.C., New York and Atlanta. Leisure travel: Catering to Generation X Generation X now spends more per trip than the wealthier baby boomer — and the travel industry is taking note. Last year, Xers — the 60 million Americans aged 25 to 40 — spent an estimated $2,140 per capita on overall travel involving a hotel stay, vs. boomers’ $2,016, according to a preliminary estimate from travel researcher D.K. Shifflet & Associates. The larger boomer population still dominates on a total dollar basis at about $157 billion last year, vs. $130 billion for Xers. Vacation spending by Xers has soared 66 percent per trip in the past five years, vs. 25 percent among boomers ages 41 to 59. The generational change has significant implications for the travel industry. Compared with the 78 million boomers, Gen Xers are less brand loyal, less likely to call a travel agent and less likely to plan far in advance. |
