The UK Travel and Tourism Market Research, Survey and Forecast to 2019: ResearchMoz

Albany, NY -- (SBWire) -- 11/03/2015 --Domestic trips decreased during 2009-2014, due to rising inflation, which led to economic uncertainty among domestic travelers. Outbound trips are projected to grow at a CAGR of 3.2% over 2015-2019, driven by the stronger economy forecast and stronger Pound Sterling against the weaker Euro. However, the appreciation of the pound is expected to limit the growth of inbound tourism, particularly from EU travelers

Domestic trips decreased from 122.5 million in 2009 to 115.8 million in 2014. However, multiple factors, including the forecast stronger economy and lower inflation, are expected to boost domestic trips, which will grow at a CAGR of 0.85% over the forecast period (2015-2019).

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Inbound tourism increased from 28.3 million in 2009 to 33.1 million in 2014, mainly driven by arrivals from France, Germany, the US, and Ireland, together accounting for 35.6% of total inbound arrivals. With different contributing factors, such as the countrys growing popularity as a wine tourism hub and a decrease in tourism tax, inbound trips are expected to increase at a CAGR of 3.3% over the forecast period.

Outbound trips witnessed moderate growth during the historic period, increasing from 56.9 million in 2009 to 59.6 million in 2014. With a stronger forecast for the economy, outbound trips are expected to increase further, by approximately 3.2% over the forecast period, and will reach 69.6 million by 2019.

As Scotland hosted the Commonwealth Games, the Ryder Cup, and celebrated the year of Homecoming in 2014, the Scottish hotel industry had a room occupancy rate of 70% in 2014, as per VisitScotlands report, released in August 2015.

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Due to the decline of the Euro, the GBP became overvalued by 18% in September 2015. Eventually this will increase outbound trips by UK residents to EU countries, as they will be able to buy more Euros for their Sterling. However, this relative appreciation of the GBP also increases inbound expenditure for travelers, especially those from the EU.

Norwegian Airlines has launched almost 20 new routes between the UK and the US. Operating from Gatwick airport, the airline carried almost 2,00,000 passengers between July 2014 and July 2015, with a 93% load factor.

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