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Regional Tourism - US - April 2017

Published By :

Mintel

Published Date : Apr 2017

Category :

Travel Services

No. of Pages : N/A

The travel market remains strong as tourism spending by both Americans and international travelers grew by 8% from 2011-16 to reach an estimated $944.2 billion. The market is forecast to grow by an additional 20% over the next five years, to surpass $1 trillion by 2021. While transportation accounts for about four in 10 dollars, costs have declined due to low fuel prices, and travelers have reallocated funds toward accommodations, food drinking places, and entertainment and recreation, all of which drive market increases. As travel – particularly leisure travel – is often a discretionary expense, the future of the travel market will rely on the strength of economic conditions.

Table of Content

OVERVIEW
What you need to know
Definition
Figure 1: Map of the US, by nine US Census divisions

EXECUTIVE SUMMARY
The issues
Majority of domestic vacationers stay within region
Figure 2: Visited own region in the last 12 months, by region of residence, January 2017
Lower-income regions are most limited by their vacation budgets
Figure 3: Vacation barriers and concerns, by region of residence, January 2017
Older adults have fewer vacation interests
Figure 4: Attitudes toward vacation experiences, by age, January 2017
Women are less likely to vacation solo
Figure 5: Domestic travel companions – Solo traveler, by gender and age, January 2017
The opportunities
Pacific residents prioritize authentic and unique experiences
Figure 6: Influencers for domestic vacation destinations, by region of residence, January 2017
Young vacationers look to digital sources and friends for advice
Figure 7: Domestic travel planning resources, by age, January 2017
Attractions and authentic experiences entice young vacationers
Figure 8: Influencers for domestic vacation destinations, by age, January 2017
What it means

THE MARKET – WHAT YOU NEED TO KNOW
Tourism-related expenditures expected to grow
Transportation is largest expense for travelers
Strength of the economy drives travel – perhaps out of the country?
States boost tourism budgets in a bid to draw domestic travelers

MARKET SIZE AND FORECAST
Tourism-related expenditures forecast to grow through 2021
Figure 9: Expenditures on tourism-related goods and services and fan chart forecast, at current prices, 2011-21
Figure 10: Expenditures on tourism-related goods and services, at inflation-adjusted prices, 2011-21

MARKET BREAKDOWN
Transportation is largest but declining expense
Growth among accommodations, food/drink, and entertainment
Figure 11: Expenditures by on tourism-related goods and services, by segment, at current prices, 2014 and 2016

MARKET PERSPECTIVE
Millennials’ desire for experiences leads to more travel – and spending
Figure 12: Best- and worst-case forecast value sales of vacations and tourism, at current prices, 2011-21
Travel is a top goal for half of families in the near future
Vacationers perceive their travel spending as holding steady
Figure 13: Perceived change in spend on vacations and tourism, January 2013-17

MARKET FACTORS
Consumer sentiment remains at highest level in more than a decade
Figure 14: Consumer sentiment index, January 2007-February 2017
Most domestic travelers drive to their destination
Figure 15: Domestic travel transportation in the last 12 months, October 2010-November 2016
Road trippers benefit from low gas prices
Figure 16: US gasoline and diesel retail prices, January 2007-March 2017
Increasing household incomes is good news for domestic travel…
Figure 17: Median household income, in inflation-adjusted dollars, 2005-15
but differences in regional household incomes impact travel likelihood
Figure 18: Median household income, by region, 2015
Millennials provide current and future growth for domestic travel market
Figure 19: Population, by generation share, 2017
State tourism budgets grow overall
Figure 20: Average state tourism budgets, FY 2005-06 to FY 2015-16

KEY PLAYERS – WHAT YOU NEED TO KNOW
Parks, sports, and tourism marketing budgets help state economies
Legislative policies, health concerns may dissuade travelers
Experience still is king
Tourism campaigns highlight unique offerings

WHAT’S SUPPORTING THE MARKET?
California Dreams Big
National parks attendance grows in 2016
Native American areas see spike in overseas visitors
Attracting visitors through sport
Accommodations as a part of the experience
Less-popular destinations can benefit from festivals

WHAT’S CHALLENGING THE MARKET?
Americans need a vacation, badly
Travel ban may keep some international visitors away
Legislative changes might give potential travelers some pause
Health concerns may deter visitation to some areas

WHAT’S NEW AND WHAT’S NEXT?
Dirt-cheap airfares may persuade travelers to fly rather than drive
Examples of 2016 state-level tourism campaigns
Oregon “We Like it Here. You Might Too”
Figure 21: Forest Park, March 2016
Figure 22: Bandon, March 2016
Wyoming “That’s WY”
Figure 23: Career Choices – Travel Wyoming, March 2016
Figure 24: Life – Travel Wyoming, February 2016
Minnesota “Only in MN”
Figure 25: #OnlyinMN Measure Your Moments, March 2016

THE CONSUMER – WHAT YOU NEED TO KNOW
Most Americans have taken a domestic leisure trip in the last year
Florida and California remain the most visited states
Area attractions are the most influential destination decision factor
Each region boasts unique and varied offerings for vacationers
Researching for a vacation is typical for most vacationers
Traveling with a romantic partner is most common
Social or health issues may deter vacationers from certain destinations

WHO IS THE DOMESTIC VACATIONER?
Region of residency influences in-state and out-of-state travel
Figure 26: Past 12 month vacation travel, and in-state travel, by region of residence, January 2017
Marrieds and 25-44-year-olds are most likely domestic travelers
Figure 27: Past 12 month vacation travel, and in-state travel, by gender, age, and marital status, January 2017
Parents and higher earning households are more likely to vacation
Figure 28: Past 12 month vacation travel, and in-state travel, by parent status and gender, and household income, January 2017
White, non-Hispanics are most likely to have vacationed in the last year
Figure 29: Past 12 month vacation travel, and in-state travel, by race/Hispanic origin and area, January 2017

WHERE ARE THEY GOING?
Florida and California lead with most visitors
Figure 30: States visited in the last 12 months, January 2017
Figure 31: Top most visited cities, corresponding city population, and ratio of visitors to city population, November 2016
South Atlantic states are most visited
Figure 32: Regions visited in the last 12 months, January 2017
Pacific residents tend to stay within their region, Middle Atlantic least likely
Figure 33: Regions visited in the last 12 months, by region of residence, January 2017

WHY DO THEY CHOOSE THEIR DESTINATIONS?
Area attractions beat out price when selecting destination
Figure 34: Influencers for domestic vacation destinations, January 2017
Pacific residents prioritize authentic and unique experiences most
Figure 35: Influencers for domestic vacation destinations, by region of residence, January 2017
Reasons to visit a region reflected by its residents
Figure 36: Influencers for domestic vacation destinations, by regions visited, January 2017
Young vacationers are enticed by attractions and authentic experiences
Figure 37: Influencers for domestic vacation destinations, by age, January 2017

WHAT DO THEY DO ON VACATION?
Visiting family and friends is top vacation type
Packaged tours and all-inclusive resorts are trips of most interest
The great outdoors likely causes a great divide for vacationers
Figure 38: Vacation types, activities, and attractions, January 2017
Vacationers desire simplicity
Figure 39: Vacation types, activities, and attractions, by region of residence, January 2017
Each region has specific claims for vacation fame
Figure 40: Vacation types, activities, and attractions – Have done/visited, by regions visited, January 2017
Outdoor activities are most participated in by young vacationers
Figure 41: Vacation types, activities, and attractions, by age, January 2017

HOW DO THEY PLAN THEIR VACATION?
83% of adults use at least one type of planning resource
Recommendations, reviews, and social media are influential
Accommodations may benefit by promoting local attractions
Tourism bureaus are less likely to be used for research
Figure 42: Domestic travel planning resources, January 2017
New England and Pacific residents are most likely to research
Figure 43: Domestic travel planning resources, by region of residence, January 2017
Promoting the uniqueness of a region helps with differentiation
Figure 44: Domestic travel planning resources, by regions visited, January 2017
Young vacationers look to digital sources and friends for advice
Figure 45: Domestic travel planning resources, by age, January 2017

WHO DO THEY TRAVEL WITH?
Spouse/partner is the most common travel companion for leisure trips
Figure 46: Domestic travel companions, January 2017
Vacationing with children is most common among 35-44 year old adults
Figure 47: Domestic travel companions – Children, by age, January 2017
Higher-earning households most likely to vacation with spouse/partner
Figure 48: Domestic travel companions – Select companions, by household income, January 2017
Young women are least likely to vacation solo
Figure 49: Domestic travel companions – Solo traveler, by gender and age, January 2017

ATTITUDES TOWARD VACATION EXPERIENCES
Vacationers are torn between new and tried-and-true destinations
Figure 50: Attitudes toward vacation experiences, January 2017
Highlighting truly unique experiences may attract interest
Figure 51: Texas, San Antonio, print advertisement, March 2017
Figure 52: Attitudes toward vacation experiences – Select items, by region of residence, January 2017
Young vacationers are eager for unique travel experiences
Figure 53: Attitudes toward vacation experiences, by age, January 2017

VACATION BARRIERS AND CONCERNS
Health concerns and budgets equally inform destination choice
Figure 54: Vacation barriers and concerns, January 2017
Lower-income regions are most limited by their vacation budgets
Figure 55: Vacation barriers and concerns, by region of residence, January 2017
Young, eager, and concerned about safety
Figure 56: Vacation barriers and concerns, by age, January 2017
Multicultural adults are most concerned about health and social issues
Figure 57: Vacation barriers and concerns, by race/Hispanic origin, January 2017

VACATION PERCEPTIONS AND PREFERENCES
Experiencing a destination before travel may stir up interest for a visit
Figure 58: Vacation perceptions and preferences, January 2017
East South Central residents likely need most persuading to travel
Figure 59: Vacation perceptions and preferences – Select items, by region of residence, January 2017
18-34-year-olds are less familiar with domestic destinations
Figure 60: Vacation perceptions and preferences, by age, January 2017

APPENDIX – DATA SOURCES AND ABBREVIATIONS
Data sources
Sales and supporting data
Fan chart forecast
Consumer survey data
Direct marketing creative
Abbreviations and terms
Abbreviations
Terms

APPENDIX – MARKET
Figure 61: Expenditures on tourism-related goods and services, at current prices, 2011-21
Figure 62: Expenditures on tourism-related accommodations, at current prices, 2011-16
Figure 63: Expenditures on tourism-related transportation (including gasoline), at current prices, 2011-16
Figure 64: Expenditures on tourism-related food services and drinking places, at current prices, 2011-16
Figure 65: Expenditures on tourism-related entertainment and recreation, at current prices, 2011-16
Figure 66: Expenditures on other tourism-related goods and services, at current prices, 2011-16
Figure 67: Travel [domestic] in the last 12 months, by domestic travelers, Oct 2010-Nov 2016

APPENDIX – US CENSUS DIVISION DATA
Figure 68: Share of US population, housing units, median age, by nine US Census divisions, 2015
Figure 69: Race and Hispanic origin, by nine US Census divisions, 2015
Figure 70: US Census divisions (regions) population rank estimates and median household income, by region, 2016
Figure 71: US Census divisions by total area, rank, and share

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