Published on : May 20, 2016
ALBANY, New York, May 20, 2016: The study, titled “United Kingdom Outbound Travel Market - Trips & Spending to 2020,” offers a comprehensive analysis of the outbound travel market in the United Kingdom (U.K.), focusing on the product segmentation, challenges and opportunities, and overall spending. The statistics related to the outbound travel market in the U.K. have also been included in the scope of the research study.
The research report studies the market data and offers a clear understanding of the tourism flows and overall travel expenditure. The report further entails an in-depth study of the key growth drivers, barriers, and challenges of the outbound travel market in the U.K. In addition, the study has further included recommendations and inputs given by industry experts to guide readers and decision-makers in formulating effective strategies and policies.
The U.K. passport is ranked amongst the top most powerful passports across the globe, which is one of the key factors driving the outbound travel market in the U.K. In addition, the residents in this region love leisure travelling and the advertisements by tourism boards attract foreign tourists – these are projected to be the major factors fuelling the growth of the market throughout the forecast period. On the other hand, U.K. travelers are facing visa-related issues in the U.S. as the country has tightened its travel laws, which is anticipated to hamper the growth of the outbound travel market in the U.K. In addition, falling popularity of destinations is also restraining the growth of the outbound travel market in the next few years.
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According to the research study, the U.K. is among the major tourist generating regions across the globe. The outbound travel market in the U.K. is anticipated to reach a valuation of US$70 bn by the end of 2020. The U.K. is listed in the top five spenders, owing to the strong currency and comparatively high income per capita. Furthermore, on the basis of volume, the outbound travel market in the U.K. is projected to reach around 80 mn by the end of 2020.
Furthermore, the research report has included ten different geographical regions, such as Australia, Cambodia, Singapore, New Zealand, India, the U.S., Korea, China, Japan, and South Africa to provide a detailed analysis of the spending and tourist visits by U.K. travelers. In 2015, Europe accounted for the largest market share in terms of total outbound trips made by U.K. travelers, owing to the cultural similarities and proximity. In the same year, France and Spain were among the most favorite destinations for travelers in the U.K., followed by the U.S.
The U.S. has emerged as one of the popular destinations for the U.K. travelers and is projected to remain in the top position in the next few years. India and Australia are also expected to gain popularity among U.K. travelers in the near future.
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