Summary The existing economic environment is stable for the travel and tourism industry and consumer confidence will change positively in H1 2016 (January 2016-June 2016). Moreover, companies are optimistic about growth prospects during the next six months owing to expectations of higher expenditure on IT infrastructure, and marketing and advertising, and renewed focus on customer retention and improving operational efficiency. Sales will be higher in North America and Europe during H1 2016, whereas spend will increase slightly on research and analysis over the next six months.
Key Findings - Overall, 44% of travel and tourism industry executives indicate that the current global economic environment is stable
- The majority of survey respondents expect an optimistic outlook for both company and industry growth during the next six months
- Over one-quarter of survey respondents anticipate an increase of 0.1% to 3.99% in supplier prices of equipment during the next six months
- Expenditure will increase on marketing and advertising, and IT infrastructure over the next six months
- Executives operating in Asia-Pacific and the Rest of the World view social unrest as the top concern for the next six months
- Over three-quarters of executives operating in North America and Asia-Pacific indicate customer retention as the top priority for the next six months
Synopsis Canadean's Travel and Tourism Industry Business Confidence Survey H1 2016 presents executives' opinion on the business environment over January 2016-June 2016. Organizations can understand the market by analyzing existing economic conditions, supplier price variations, sales performance, industry and company growth outlook, spending patterns, and key priorities. Additionally, organizations will have access to information categorized by region wherever applicable.
What else does this report offer?
- Current state of the global economy: examine prevailing economic conditions globally and across various regions
- Company and industry growth outlook: know industry executives' expectations towards their company's growth prospects and that of the industry over the next six months
- Change in consumer confidence: analyze travel and tourism industry executives' opinion about the change in consumer confidence during H1 2016
- Supplier prices projection: determine expected changes in supplier prices across various categories and their impact on business confidence
- Change in staff headcount and sales performance: track expected changes in staff headcount and sales for H1 2016 among industry executives globally
- Significant investment activities: know about various areas in which industry executives intend to invest over the next six months
- Business concerns: access information about potential business concerns indicated by survey respondents for H1 2016
- Key priorities: examine the top priorities for industry executives operating in various regions
Reasons To Buy - Organizations can make effective business strategy decisions by knowing the prevailing business conditions and sentiment within the travel and tourism industry
- Organizations will be supported in business expansion decisions by providing information about projected changes in sales performance and supplier prices
- Helps to improve the operational efficiency of the organization by knowing about key priorities and the main concerns of travel and tourism industry executives
- Helps to alter investment allocation by understanding key focus areas highlighted by survey respondents during H1 2016
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