Tourism 2015

TOURISM 2020
2015
TOURISM AND TRAVEL
TRENDS REPORT
2 | Tourism 2020
ABOUT US
2015 Resonance Consultancy Ltd.
RESONANCE CONSULTANCY IS AN INTERNATIONAL LEADER IN DESTINATION DEVELOPMENT,

BRANDING AND MARKETING. OUR TEAM HAS ADVISED PRIVATE AND PUBLIC SECTOR
ORGANIZATIONS IN MORE THAN 70 COUNTRIES AROUND THE WORLD. OUR INTEGRATED
APPROACH TO RESEARCH, STRATEGY AND BRANDING HELPS COMMUNITIES, CITIES AND
COUNTRIES IDENTIFY NEW MARKET OPPORTUNITIES, CREATE PLANS FOR THE FUTURE, AND
COMMUNICATE THEIR STORIES TO REALIZE THE FULL POTENTIAL OF THEIR DESTINATIONS.
3 | Tourism 2020
ABOUT US
RECENT RESONANCE CONSULTANCY PROJECTS INCLUDE:
International Market Development Strategy for Republic of Ireland
Strategic Plan for Aruba Tourism Authority
Tourism Master Plan for City of Vancouver
Destination Assessment for the Canadian Tourism Commission
Destination Development Strategy for Cincinnati USA
To learn more about Resonance Consultancy, please visit www.resonanceco.com.
4 | Tourism 2020
ABOUT US
IN ADDITION TO CONDUCTING RESEARCH FOR OUR CLIENTS
IN NORTH AMERICA AND EUROPE, RESONANCE CONSULTANCY
CONDUCTED A SURVEY OF MORE THAN 3,300 U.S. TRAVELERS IN
NOVEMBER 2014 TO UNDERSTAND THE PREFERENCES, ASPIRATIONS
AND INTENTIONS OF THE WORLDS LARGEST TOURISM ECONOMY.
FORTHCOMING REPORTS INCLUDE:
2015 Portrait of the U.S. International Leisure Traveler
2015 Portrait of the U.S. Millennial Traveler (March 2015)
2015 Portrait of the U.S. Senior Traveler (April 2015)
2015 U.S. Luxury Travel & Leisure Report (May 2015)
5 | Tourism 2020
01.
CONSPICUOUS
LEISURE
6 | Tourism 2020
1. CONSPICUOUS LEISURE
Signaling social status through consumption of experiences rather than material goods.
Technology, Travel & Leisure experiences the most coveted luxuries of U.S. households.1
Travel is the #1 leisure pursuit for Chinese HNWIs.2
2015 Resonance Report: Luxury Travel & Leisure Trends

Hurun Report Chinese Luxury Consumer Survey 2014
The rise of social media enhances the value of experiences as they become social currency
used to define and communicate status.
7 | Tourism 2020
02.
GLOBAL
GROWTH
8 | Tourism 2020
2. GLOBAL GROWTH
1.1 billion tourists traveled abroad in 2014, a 4.7% increase over the previous year.3
For 2015, UNWTO forecasts international tourism to grow by 3% to 4%.
At current pace, international travel will double from 1 to 2 billion between 2013 and 2035.
UNWTO World Tourism Barometer
Europe is the most visited region in the world but North America grew the most in 2014 at 8%.
9 | Tourism 2020
03.
CHINA
10 | Tourism 2020
3. CHINA
China has consolidated its position as the number one tourism source market in the
world, with more than 100 million travelers spending USD $129 billion on international
tourism in 2013.4
Hong Kong, Macau and Taiwan accounted for 70% of outbound travel, and 89% of
Chinese travelers stayed within Asia in first 11 months of 2014.
U.S. and France are the only countries outside Asia that are top 10 destinations.
Approximately 2/3 of Chinese travelers prefer to travel independently, up 5% over 2013.5
UNWTO Tourism Highlights, 2014 Edition

Hotels.com Chinese International Travel Monitor 2014
6
Euromonitor International Top 100 City Destination Rankings
4
5
While China is the largest outbound market, inbound travel to major Chinese cities
declined as much as 10% in 2013.6
11 | Tourism 2020
04.
SHOPPING
SAFARIS
12 | Tourism 2020
4. SHOPPING SAFARIS
The most popular shopping destinations are China and the U.S. Domestic and international
tourists spent more than USD $170 billion in China and USD $110 billion in the U.S. in 2014.7
27% of Chinese tourists abroad spend more on shopping when traveling than on anything else.8
Euromonitor International
China Outbound Tourism Research Institute
9
2015 Resonance Report: Portrait of the U.S. International Leisure Traveler
7
8
Global expansion and commodification of brands will increase desirability and demand for goods
of local provenance only 54% of U.S. international travelers shop at luxury brand stores while
on vacation vs. 86% who want to shop at stores featuring locally made goods.9
13 | Tourism 2020
05.
MILLIONS OF
MILLENNIALS
14 | Tourism 2020
5. MILLIONS OF MILLENNIALS
1.8 billion out of 7 billion people worldwide belong to the Millennial generation (age 18-34).
Experiencing everyday life in another country and increasing their knowledge are top
travel motivations for Millennial travelers.10
54% of U.S. Millennials that traveled last year have children living at home.11
WYSE Travel Confederation Millennial Traveller Report

2015 Resonance Report: Portrait of the Millennial Traveler
12
U.S. Census
10
11
11.2 million households with children in U.S. are Millennials.12
15 | Tourism 2020
06.
WIRED AND
WIRELESS
16 | Tourism 2020
6. WIRED AND WIRELESS

By 2017, more than 3 billion people will have mobile internet access.13
Internet access is the most important hotel amenity for both leisure and business travelers.
Hyatt is first major global full-service brand to offer free WiFi to all guests across all properties.
PwC Global Entertainment & Media Outlook: 2013-2017
13
Mobile internet affects not only the way travel is distributed and sold, but how we consume
and experience the destination itself.
17 | Tourism 2020
07.
SERIOUSLY
SOCIAL
18 | Tourism 2020
7. SERIOUSLY SOCIAL
Travel reviews have a significant influence on travel decisions of Millennials as almost 80% of
Millennials said their travel decisions were influenced by reviews either often or sometimes.14
57% of U.S. Millennial travelers take and post pictures on social media networks hourly or daily
while on vacation vs. 29% of all U.S. travelers.15
51% of U.S. Millennial travelers post comments and updates on Facebook, Twitter or other
social media networks hourly or daily while on vacation vs. 24% of all U.S. travelers.
Trip Advisor acquisition of Viator and La Forchette and Priceline acquisition of OpenTable are
first steps by OTAs towards directing and managing visitor purchases both before and during
their vacation.
14
15
WYSE Travel Confederation Millennial Traveller Report

2015 Resonance Report: Portrait of the U.S. Millennial Traveler
Free WiFi throughout city centers and tourist corridors will be key to enhancing visitor experience
while leveraging potential of social media as a marketing channel.
19 | Tourism 2020
08.
SHARING
ECONOMY
20 | Tourism 2020
8. SHARING ECONOMY
Airbnb surpassed 800,000 listings and hosted more than 10 million people in 2014.
Despite this new entrant, global hotel occupancy rates and ADR have recovered to
pre-recession/pre Airbnb levels.
40% of U.S. Millennials use Airbnb or other sharing service versus 23% of all U.S. travelers.16
16, 17
However, a full service hotel/resort is the #1 choice of Millennials (58%) vs Airbnb or other
room/home sharing services which is last at 11%.17
21 | Tourism 2020
09.
ATHLETIC
EVENTS
22 | Tourism 2020
9. ATHLETIC EVENTS
USA Triathlon membership grew from roughly 100,000 members in 1998 to over 550,000
members in 2014.
Non-traditional endurance races like Tough Mudder have grown rapidly to more than 4
million participants in U.S. alone versus 2.5 million for marathon and half-marathon races.
53% of U.S. Millennial travelers regularly or occasionally participate in athletic competitions
on vacation vs. 31% of all U.S. travelers (and 20% more would like to try).18
18
Participation in athletic competitions is higher among more affluent households.
23 | Tourism 2020
10.
BLEISURE
24 | Tourism 2020
10. BLEISURE
94% of younger travelers are more than or equally likely to take a bleisure trip in
the next five years significantly higher than the worldwide average.19
Hotwire.com survey of U.S. travelers found Millennials (18-34) were more likely to mix
business with pleasure compared to their older counterparts (aged 35 to 44) at 56%
vs. 37%.
U.S. Millennials are most likely to combine a business trip with a leisure vacation at 32%
vs. 19% of travelers aged 35-64 and just 5% of travelers 65+.20
Bridgestreet Global Hospitality Bleisure Report 2014

19
20
For meetings and conventions, the city itself becomes the venue and quality of place is
a potential competitive advantage.
25 | Tourism 2020
11.
GROWING
GRAY
26 | Tourism 2020
11. GROWING GRAY

World population of 65+ will rise from 600 million in 2015 to more than 1 billion by 2030.21
17% of Europes population is now 65+, 10% in North America and 7% in Asia.22
In 2013, 360,000 Americans received their Social Security abroad 48% more than in 2003.
In the U.S., 66% of Senior Travelers define retirement as a time to travel and explore new places.23
Travel closer to home less likely to travel overseas.
Retirees are an attractive market in non-peak seasons most likely to take longer vacations.
United Nations, Department of Economic and Social Affairs, World Population Prospects: 2012 Revision, June 2013
2015 Resonance Report: Portrait of the U.S. Senior Traveler
24
World Health Organization
21, 22
23
Accessibility is key as 1/3 of market has some form of physical disability.24
27 | Tourism 2020
12.
ACCESSIBLE
ADVENTURE
PHOTO: FLICKR - TIM GILLIN
28 | Tourism 2020
12. ACCESSIBLE ADVENTURE

Adventure travel is defined as any tourist activity that includes two of the following three
components: a physical activity, a cultural exchange, or interaction and engagement with nature.25
71% of U.S. Millennials want to participate in adventure activities that take me out of my comfort
zone when on vacation. 26
25% of U.S. international travelers are Active Adventurers.27
Engaging with nature is one of the most popular vacation activities for U.S. Seniors (73%)
Adventure Travel Trade Association

27
25
26
Chinese and South Asian travelers are more likely to sit back and enjoy rather than immerse
themselves in outdoor activities.
29 | Tourism 2020
13.
MEDICAL
TOURISM
30 | Tourism 2020
13. MEDICAL TOURISM

Patients Beyond Borders estimates 11 million cross-border patients will spend
USD $38.5-$55 billion worldwide.
Worldwide medical tourism market is growing at a rate of 15-25%, with rates highest in
North, Southeast and South Asia.28
Top destinations are Costa Rica, India, Israel, Malaysia, Mexico, Singapore, South
Korea, Taiwan, Thailand, Turkey, and United States.
1.2 million Americans will travel outside U.S. for medical care.
Patients Without Borders

28
29
In the U.S., Millennial travelers are the most receptive/interested in receiving medical
treatments while on vacation.29
31 | Tourism 2020
14.
MILLIONS OF
MILLIONAIRES
32 | Tourism 2020
14. MILLIONS OF MILLIONAIRES

There are 34.8 million millionaires in the world, an increase of 12.4% over 2013.30
The average global growth between 2014 and 2019 in the number of millionaires is
expected to be 53%.
North America has 15 million (44% of the total) compared to 11.7 million (34%) in Europe.
The U.S. has 41% of the worlds millionaires and nearly 35% of all the worlds wealth.31
Asia-Pacific countries, excluding China and India, have 5.6 million millionaires (16%), and
there are now 1.2 million millionaires in China (3.4% of the global total).
The number of Chinese millionaires is set to double to more than 2 million by 2019.32
After Dining & Sightseeing, Learning New Things is the most popular activity for U.S.
millionaires, with 91% regularly or occasionally participating on vacation.
2014 Credit Suisse Global Wealth Report

The Resonance Report: 2015 Affluent Traveler Report
30, 31, 32
33
U.S. millionaires most interested in visiting Europe (49%) in next 12-24 months and Italy
is the most popular country in the world at 24%.33
33 | Tourism 2020
15.
FRONTIERISM
34 | Tourism 2020
15. FRONTIERISM
26% of U.S. travelers enjoy visiting rare and remote landscapes like Antarctica,
Galapagos islands or the Arctic on vacation and 54% would like to try.34
37,405 tourists visited Antarctica in 2013-14, which was a 9% increase from the
previous year.35

Association of Antarctica Tour Operators (IAATO)
34
35, 36
Most travelers to Antarctica are from the U.S. (33%). Others from Australia (11%), China
(9%), U.K. (8%), Germany (8%), Canada (5%), France (3%) and Switzerland (2%). 36
35 | Tourism 2020
16.
RESIDENTIAL
TOURISM
36 | Tourism 2020
16. RESIDENTIAL TOURISM

Shift in vacation home ownership from sun/resort destinations to top global cities.
47% of Chinese millionaires plan to emigrate.37
There are 22,300 foreign multimillionaires those worth USD $10 million or morewho own
second homes in London.38
In Miami, 90% of all new condominium sales are to foreign buyers.39
In downtown Vancouver, 5.8% of all condominiums are owned by foreign residents.40
Barclays Wealth Insights Volume 18

New World Wealth Report
39
Integra Realty Resources
40
Canada Mortgage and Housing Corp
37
38
Foreign demand in lifestyle cities increases land values and discourages hotel investment
37 | Tourism 2020
17.
GAY ON
THE GO
38 | Tourism 2020
17. GAY ON THE GO

Global LGBT spending on travel estimated to be more than USD $200 billion per year. 41
17 countries have legalized same-sex marriage and two, Mexico and the U.S., allow it
in some jurisdictions.
In July 2012, NYC & Company reported that the total economic impact of same-sex
weddings in New York City alone for one year was USD $259.5 million.
Out Now Business Class
41
Russia anti-gay law passed in advance of Sochi Olympics spawned global protests,
negative publicity and state department travel warnings.
39 | Tourism 2020
18.
CULTURE 3.0
40 | Tourism 2020
18. CULTURE 3.0

Traditional cultural tourism is centered on built heritage, but there is growing interest in
intangible heritage popular culture, traditions and storytelling.42
Higher levels of interest in active/creative cultural participation rather then passive observation.
Cities with a creative class population and culture attract travelers from developed markets
while built heritage continues to resonate with emerging markets.
27% of U.S. international travelers are Sophisticated Explorers for whom Exploring new
cultures and their traditions while on vacation is their #1 vacation motivation.43
Greg Richards, 2014

42
43, 44
Most interested in Visiting Cultural Attractions (95%) and Learning New Things (94%).44
41 | Tourism 2020
19.
BRAND
ATTRACTIONS
42 | Tourism 2020
19. BRAND ATTRACTIONS

There are more than 500 branded attractions around the world from Ferrari World to
the Coca-Cola Experience.
Reduced reach and influence of traditional media is motivating global brands to create
attractions and experiences to engender brand loyalty and engage consumers.
LVMH invested USD $143 million in Paris new Fondation Louis Vutton art museum.
Herseys Chocolate World in Pennsylvania the #1 brand attraction in the world with 4.1
million visitors annually.
Guinness Storehouse in Dublin the most visited attraction in Ireland with more than
1 million visitors per year.
Merlin now has 9 LEGOLAND Parks around the world with plans to grow to 20.
43 | Tourism 2020
20.
SUSTAINABILITY
44 | Tourism 2020
20. SUSTAINABILITY
The tourism sector accounts for about 5% of global emissions - 40% of which come from air travel
but only 2% of international travelers choose to purchase carbon offset credits for their flight.
Visits to Beijing decline again down 10% in 2014 due to air pollution.
Residents in Barcelona protested against tourism in August.
Growth of industry in decade ahead more likely to be impacted by issues related to carrying
capacity and impact of tourism on quality of life for local residents.
As global tourism demand doubles over the next 15 years, emphasis for many destinations will shift
from marketing to management of the destination and balancing the interests of locals and visitors.
45 | Tourism 2020
THANK YOU!
TO LEARN MORE ABOUT OUR RESEARCH, PLEASE VISIT RESONANCEREPORT.COM FOR INFORMATION
ON CURRENT AND FORTHCOMING REPORTS:
2015 Portrait of the U.S. International Leisure Traveler
2015 Portrait of the U.S. Millennial Traveler (March 2015)
2015 Portrait of the U.S. Senior Traveler (April 2015)
2015 U.S. Luxury Travel & Leisure Report (May 2015)
cfair@resonanceco.com
+1.604.681.0804
@resonanceco @crfair
CONTACT
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P +1.604.681.0804
E info@resonanceco.com
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New York, NY 10120
P +1.646.233.1383
E info@resonanceco.com
resonanceco.com
The Resonance Report is produced for general interest only; it is not definitive. It must not be relied upon in any way. Although high standards have been used in the preparation ofthe information and analysis presented
in this report, no responsibility or liability whatsoever can be accepted by Resonance Consultancy Ltd. for any loss or damage resultant fromany use of, reliance on, or reference to the contents of this document. We make
no express or implied guarantee of its accuracy. Please be advised that your use of The ResonanceReport document constitutes your agreement to (i) use the content under a limited license only for your own internal
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remains at all times theexclusive intellectual property of Resonance Consultancy Ltd. Copyright 2015 Resonance Consultancy Ltd.

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TOURISM 2020

2015 Resonance Consultancy Ltd.

RESONANCE CONSULTANCY IS AN INTERNATIONAL LEADER IN DESTINATION DEVELOPMENT,

2015 Resonance Consultancy Ltd.

To learn more about Resonance Consultancy, please visit www.resonanceco.com.

2015 Resonance Consultancy Ltd.

2015 U.S. Luxury Travel & Leisure Report (May 2015)

2015 Resonance Consultancy Ltd.

2015 Resonance Report: Luxury Travel & Leisure Trends

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

UNWTO World Tourism Barometer

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

UNWTO Tourism Highlights, 2014 Edition

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

WYSE Travel Confederation Millennial Traveller Report

2015 Resonance Consultancy Ltd.

11.2 million households with children in U.S. are Millennials.12

2015 Resonance Consultancy Ltd.

6. WIRED AND WIRELESS

PwC Global Entertainment & Media Outlook: 2013-2017

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

WYSE Travel Confederation Millennial Traveller Report

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

2015 Resonance Report: Portrait of the U.S. Millennial Traveler

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

2015 Resonance Report: Portrait of the U.S. Millennial Traveler

2015 Resonance Consultancy Ltd.

Participation in athletic competitions is higher among more affluent households.

2015 Resonance Consultancy Ltd.

Bridgestreet Global Hospitality Bleisure Report 2014

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

11. GROWING GRAY

2015 Resonance Consultancy Ltd.

Accessibility is key as 1/3 of market has some form of physical disability.24

2015 Resonance Consultancy Ltd.

PHOTO: FLICKR - TIM GILLIN

12. ACCESSIBLE ADVENTURE

Adventure Travel Trade Association

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

13. MEDICAL TOURISM

Patients Without Borders

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

14. MILLIONS OF MILLIONAIRES

2014 Credit Suisse Global Wealth Report

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

2015 Resonance Report: Portrait of the U.S. International Leisure Traveler

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.

16. RESIDENTIAL TOURISM

Barclays Wealth Insights Volume 18

2015 Resonance Consultancy Ltd.

2015 Resonance Consultancy Ltd.