New Consumer Goods market report from Business Monitor International: "United States Tourism Report Q1 2014"
Boston, MA -- (SBWIRE) -- 12/26/2013 -- The US Tourism Report examines the long-term potential offered by the tourism industry, but highlights that the weakness of the European economies may put downward pressure on arrivals in the short term. In 2013 we forecast arrivals to reach 57.5mn, and to rise to 68.4mn by 2017.
As expected, arrivals from Europe have been sluggish so far in 2013, reflecting weak economic growth in this region. Of the eight European countries in the top 20 nationalities visiting the US, only two (Italy and Sweden) registered growth in the first four months of the year, albeit of only 0.6% year-on-year (y-o-y) each. On the other hand, arrivals from Latin America (excluding Mexico) were up strongly, with high arrivals growth from Brazil (18%), Argentina (19.8%), Venezuela (25.7%) and Colombia (29.1%). This indicates that Latin America will be an expanding source market for US tourism over the medium term, in line with our forecast for arrivals from Latin America to total almost 40mn by 2017.
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- BMI has raised its forecast for hotels and establishments growth over the forecast period. We are now forecasting hotels and establishments to total 55,570 by 2017, up from 52,530 in 2012.
- Arrivals from Europe will remain sluggish in 2013, growing by only 1.20%, down from 3.44% in 2012. We expect this trend to continue into 2014, when we are forecasting 1.54% growth.
- BMI has raised its forecast for air transport passengers over the forecast period, targeting passengers to reach 799.02mn by 2017, up from 736.62mn in 2012.
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