Published on : Tuesday, December 10, 2019
The annual travel trend and forecast survey of the association’s active tour operator members by the United States Tour Operators Association predicts a positive outlook for the industry in the year ahead.
It is anticipated by almost 82% of the USTOA tour operator members that the growth in sales for the year ending in 2020 is about 45% optimistic and a ‘boom year’ has been forecasted. There will be growth anywhere from seven to 10% or higher.
More than two thirds of the responding members said that there was an increase in sales for 2019 and half of them cited an increase of 10% or more.
As per the survey more than a survey attributed the growth in sales to ‘better and improved marketing’.
Another third (37%) listed “other” as the top attributor with added capacity through expanded portfolio of products, while two thirds (67%) of membership cited a growth in the number of passengers for 2019, with half (52%) reporting passenger growth 10% or higher.
Terry Dale, president and CEO for USTOA said that member confidence levels for the year ahead are high with roughly three quarters of our tour operator members ‘confident’ or ‘highly confident’ that revenues will increase in the coming year.This is particularly encouraging, especially as they approach an election year, where historically consumer spending is more conservative.
The potential threats to traveller confidence in the year ahead was the presidential election that topped the list and recession was named the second global risk that could impact potential growth in 2020 which was followed by global financial instability.