Recent Study: United States Tourism Report Q4 2013
Recently published research from Business Monitor International, "United States Tourism Report Q4 2013", is now available at Fast Market Research
Boston, MA -- (SBWire) -- 10/23/2013 --International air traffic in the US in the first four months of the year indicates that the industry is performing well so far in 2013. In the year to April, international air traffic to and from the US totalled 57.3mn passengers, representing annual growth of 3%. While travel by US citizens grew by 1%, travel by non-US citizens grew by 5%, indicating that international tourism is picking up strongly. This bodes well for our full-year forecast of 4.3% growth in US inbound tourism, up from 3.9% growth in 2012.
We anticipate this tourism arrivals growth to boost tourist expenditure totals for the year. This should help bolster the hotel and hospitality sector, with BMI forecasting the industry value of domestic hotels and restaurants to total US$451.05bn in 2013, up by 3.65% from 2012, when annual growth was only 0.45%.
Improving fortunes for the sector will encourage ongoing expansion by major hotel chains, with groups such as Marriott, Hilton and Wyndham looking to increase their already strong presence in the country.
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- BMI has expanded its Tourism Risk/Rewards Ratings tables to include more countries in Latin America, creating a broader field of comparison. The US continues to be ranked first in the region, with an overall rating of 69.58, just ahead of Canada.
- Arrivals from Europe will remain sluggish in 2013, growing by only 1.2%, down from 3.44% in 2012. We expect this trend to continue into 2014, when we are forecasting 1.54% growth.
- BMI forecasts that the number of hotels and establishments in the US will grow by 1.66% in 2013, up from 0.04% growth in 2012.
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