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U.S. Puts in Place Plans to Increase
Share of Global Travel Market
W
ith its goal to strengthen the tourism industry, the U.S. has introduced visa program reforms—especially in emerging BRIC
markets (Brazil, Russia, India and China)—to allow the middle
class with disposable income in these developing countries to travel in
the U.S.
According to the U.S. Department of Commerce, there were
approximately 70 million global travelers in the U.S. in 2011. Data
published by NYC & Company estimates that each Brazilian traveler to the U.S. spends on average US$10,000 while Chinese
travelers spend around US$12,000.
Brand USA, a dedicated agency responsible for marketing the
U.S. to the world, estimates that for every 35 travelers to the U.S.,
one American job is created.
This renewed commitment to strengthen the tourism sector is positive news to hotels and resorts, as well as spas within these properties, as
stronger tourism means better business for this sector.
Australian’s Interest in Pilates and Yoga
is Growing Amid Economic Concerns
ccording to the latest IBISWorld
Market Research, there are
strong indications that the
Australian market’s interest in Pilates and yoga is growing,
despite some economic concerns in
the market.
The research highlights the
industry’s growth from “a highly
specialized niche to an established
part of the health and fitness industry
over the past 15 years.” One reason for
its maturity is the Australian market’s
increasing health-consciousness and interest in
the active or sports lifestyle.
In contrast though, despite an evident interest, there has only
been a compound annual revenue growth rate of 0.6 percent over
A
the past five years. The industry’s services,
according to the research, are discretionary.
Amid economic sentiments, consumers
cut back on discretionary spending.
But data from the research points
to a silver lining. In its press release,
the firm notes that “due to widespread existence of basic industry
products, specialization and the targeting of new markets is likely to drive
growth.” The development of services
for specific markets such as prenatal and
postnatal yoga and Pilates will likely help to
expand the industry’s market. It is also projected
that in the next five years, the market for services targeted toward seniors will help to broaden the industry’s revenue
base.
December 2012
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PULSE 13