Boston, MA -- (ReleaseWire) -- 06/16/2014 -- Our US tourism report examines the long-term potential offered by the tourism industry but highlights that weakness in European economies may put downward pressure on arrivals in the short term. In 2014, we forecast tourist arrivals to reach 59.9mn, representing year-on-year (y-o-y) growth of 4.1%. Growth is forecast to remain around this rate throughout the rest of the forecast period to 2018.
The US authorities, such as the US Office of Travel and Tourism Industries, are more optimistic. In April 2014, the US Department of Commerce (DOC) released its forecast for international travel to the US between 2014 and 2014. The DOC is forecasting arrivals growth of 3.5% in 2014, with the growth rate set to remain at 3.4-4.1% over the period to 2018. The DOC is also forecasting strong arrivals growth from countries such as China (139%), Colombia (56%), India (54%), Taiwan (52%), Brazil (50%) and Argentina (48%). If this forecast is borne out, by 2018 China would become the US's fourth-largest source of visitors, up from seventh at present.
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- BMI has revised down its estimate for transport services receipts in 2013, to USD37.8bn. We expect growth to pick up slightly in 2014, by 2.1% y-o-y to USD38.7bn.
- BMI has revised down its forecast for hotel growth over the forecast period, targeting 55,790 hotels by 2018, down from previous projections of 55,960.
- BMI is forecasting outbound tourism to grow by 3.2% in 2014, to 68.1mn.
The United States Tourism Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for tourist expenditure; government expenditure on tourism; passenger arrivals and departures by mode of transport, reason for travel, origin and destination; and the accommodation market.
BMI's United States Tourism Report provides industry professionals and strategists, corporate analysts, associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the American tourism industry.
- Benchmark BMI's independent tourism industry forecasts for United States to test other views - a key input for successful budgetary and planning in the American tourism market.
- Target business opportunities and risks in the American tourism sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in United States.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
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