Industry Growth Data on Paper | Teplis Travel

Amadeus Report: Global travel industry set for period of sustained growth

The global travel industry is set for a period of sustained growth over the next decade, driven in part by China’s share of global outbound travel reaching as much as 20% by 2023. A global travel trends study predicts an optimistic macro-economic outlook for global travel over the next 10 years, with the industry projected to outstrip global GDP by some 2% – growing 5.4% a year. China’s growth in outbound travel, which as recently as 2005 stood at just 1%, will enable it to overtake the U.S to become the world’s largest outbound travel market this year, with the number of Chinese households able to afford overseas travel set to more than double in the next 10 years. China will also become the biggest domestic travel market by 2017, driven largely by rapidly increasing GDP, rising employment levels and higher consumer spending. However, other large emerging markets such as Russia, Brazil, India, Indonesia and Turkey will each also average more than 5% annual growth over the next decade. (