Global tourism exceeded growth expectations in the first half of 2013, with nearly 25 million more international arrivals than the previous year. Asia, Europe, and South Asia led this growth. China is now the largest source of outbound tourists. International tourism spending is also expected to grow faster than previously estimated. In Latin America, travel and tourism directly contributed over $138 billion to GDP in 2012 and supported over 5.8 million jobs. Key trends include the rising importance of millennials, seniors, social media, luxury travel, eco-friendliness, and multigenerational travel. Quality is valued over savings, and health is a top factor influencing travel decisions.

3.
Global Tourism Trends
Global
World tourism has exceeded all the growth expectations put forth for 2013, as reported
by the World Tourism Barometer OT in one of its most recent publications. The
number of international tourist arrivals grew by 5 % during the first half of 2013 when
compared to the same period in 2012. Close to 494 million tourists arrivals were
recorded in this period, over 25 million more international visitors than in the same
period of 2012. This figure exceeds the forecasts made earlier this year, which
predicted between +3 % and +4 % growth (WTO, 2013). Asia, the Pacific and Europe
led this growth. Europe had an increase of 5%, Asia-Pacific grew by 7% and South
Asia exceeded all expectations and recorded a 12% increase.
China is the main source of outbound tourists.
Asia remains the leading global region for economic growth. In 2012, the number of
outbound tourists totals 83,182,700, up 18.41% comparing with 2011.The China
Tourism Academy expects the Chinese outbound market to reach 94 million trips this
year, up 15 percent from 2012. China surpassed the U.S. and Germany in 2012 to
become largest source of outbound travelers in the world. International tourism
expenditure exceeded WTTC (World Travel and Tourism Council) expectations with
estimated growth of 4.0% in 2013, more than the previous estimate of 3.1%. The total
contribution from Travel & Tourism to the world economy will be 2.9% in 2013. The
IMF predicts global GDP to rise by 3.8% in 2014 thanks to steady growth in the
Eurozone. Global tourist arrivals and inbound spending will continue to be vital for
the 2012-2017 period.
Latin America
The direct contribution of Travel & Tourism to GDP was USD138.8bn (3.2% of total
GDP) in 2012, and is forecast to rise by 4.7% in 2013, and to rise by 4.8% to
USD232.4bn in 2023 (in constant 2012 prices). (World Travel and Tourism Council)
In 2012 Travel & Tourism directly supported 5,849,000 jobs (2.9% of total
employment). This is expected to rise by 3.1% in 2013 and rise by 2.7% to 7,895,000
jobs (3.3% of total employment) in 2023. (World Travel and Tourism Council)
Visitor exports generated USD38.3bn (4.7% of total exports) in 2012. This is forecast to
grow by 5.1% in 2013, and grow by 7.8% to USD85.3bn in 2023 (6.1% of total).
(World Travel and Tourism Council)
Travel & Tourism investment in 2012 was USD49.7bn, or 5.7% of total investment. It
should rise by 7.3% in 2013, and rise by 6.1% over the next ten years to USD96.7bn
in 2023 (6.6% of total). (World Travel and Tourism Council)
Ecuador
The direct contribution of Travel & Tourism to GDP was US$1,439.1mn (2.0% of total

4.
GDP) in 2012, and is forecast to rise by 5.3% in 2013, and to rise by 4.6% to
US$2,384.9mn in 2023 (in constant 2012 prices). (World Travel and Tourism Council)
In 2012 Travel & Tourism directly supported 110,000 jobs (1.7% of total employment).
This is expected to rise by 2.4% in 2013 and rise by 3.3% to 156,000 jobs (2.0% of
total employment) in 2023. (World Travel and Tourism Council)
Visitor exports generated US$918.0mn (3.6% of total exports) in 2012. This is forecast
to grow by 1.1% in 2013, and grow by 5.3 to US$1,557.4mn in 2023. (4.9% of total)
(World Travel and Tourism Council)
Travel & Tourism investment in 2012 was US$704.1mn, or 3.9% of total investment. It
should rise by 7.2% in 2013, and rise by 4.5% over the next ten years to
US$1,174.9mn in 2023 (4.3% of total). (World Travel and Tourism Council)
Opportunities and Trends
The imminent growth of the Travel and Tourism sector and the predicted growth of
global GDP present an opportunity for the growth of the Economic impact of tourism
in Latin America and Ecuador.
Given the favorable circumstances, it is vital to pay attention to the Travel trends in
2014 in order to maximize the economic benefit of tourism. 2014 will be an important
year for tourism and travel and the Travel Trends are as follows:
• The importance of Millennials and seniors keeps on rising.
• Social Media and virtual presence is vital.
• Luxury and Eco Friendliness become bigger factors.
• Travelers have started to value quality over savings.
• Health is biggest factor in travel decisions.
• The Americas should focus on PANKS (Professional Aunt, No Kids)
• More multi-generational travel.
Health condition is biggest factor in travel decisions.
According to Emerging Lifestyle & Travel Trends American tourists name their reasons
to travel as follows:
1. Health (58%)
2. Financial Stability (45%)
3. Get to know the World (37%)
4. Spend more time with Family (37%)
5. Spend more time with friends (29%)

5.
The importance of Social Media.
Blogs are very influential tools when deciding where and when to travel. A few
examples include About Tourism, Where I've Been, and DownTown Traveler.
Additionally, travel destinations and hotels with a social media presence such as
Facebook or twitter tend to have a wider reach when trying to captivate an audience.
Visual tools like Instagram can serve to further advertise the visual appeal of a
destination.
Millennials and Technology
Millennials (people born between the early 1980s to the early 2000s) are starting top
lay a large role in tourism, especially when it relates to social media and technology:
• Millennials are far more interested in international travel than non-Millennials,
Millennials are more interested in urban rather than resort destinations
• Millennials are more likely to travel for leisure in organized groups, with
extended family, or with friends.
• Millennials are twice as likely as non-Millennials to use their mobile phones to
show travel pictures to friends, share travel photos on social media, blog or
recount travel experiences online, and post travel reviews, according to a survey
by BCG.
• 8 in 10 Millennials consider online travel reviews either “somewhat” or “very
important.” Wired & Wireless.
• More than 40% of all online research for travel came from a mobile device.
• Millennials are more likely than their older colleagues to book their business
travel on their mobile phones (32 percent) or tablets (20 percent), a habit that’s
slow to catch on among 46- to 65-year-olds. (Expedia.com)
• Internet access is the MOST important hotel amenity for affluent U.S. travelers.
• Mobile apps are replacing the hotel concierge (Resonance Consulting)
Luxury and Eco-friendliness.
Many travelers prefer luxury. In 2013, 26% of travelers preferred luxury hotels and
accommodations, compared to 15% in 2011. Luxury travelers are seeking out ways to
stay active and healthy on the road. Luxury travel continues to be a robust segment of
the industry. There are millions of millionaires, and the number of affluent U.S.
households is projected to increase from 10.5 million in 2012 to 20.5 million in 2020.
Growth in adventure travel has accelerated at a 65% yearly rate since 2009. The value
of the global outbound adventure travel sector was more than $345 billion in 2012.
Tourists spend approximately one-third of their total tourism expenditures on retail
purchases. Tourism shopping includes: pre-trip shopping, add-on function of the
attraction or destination, shopping experience, and experience local culture.
Even though just 16% of affluent U.S. travelers rate eco-friendliness an important
factor, visits to Beijing have dropped by roughly 50% so far this year, which many
attribute to the city’s notorious pollution. Showing that eco-consciousness is in fact a
factor in tourists decision process. (Resonance Consulting)

6.
The top five goods and experiences desired by the affluent are:
• Owning a smartphone
• Owning a vacation home
• Having the freedom to work from home
• Taking vacations to exotic destinations
• Taking extended time off from work
Quality over Savings.
American travelers value “Quality over Savings” regardless of annual household
income. Figures show that 34% of travelers choose destination first, and 33% choose
type of travel first, before setting a budget (18%) and finding deals (8%).
Americas: PANKS - A new Demographic
According to Euromonitor, the US travel industry is targeting PANKs - 'Professional
Aunt, No Kids' - who collectively spend billions on travelling with nieces and
nephews. These women have children later in life or choose not to have children at
all. Travel firms aware of the power of PANKs' spending can adjust to this trend and
reap the benefits.
Rising importance of seniors.
Seniors are estimated to comprise 1.3 billion to 1.6 billion people
worldwide. Customer service is crucial to this group, and they show lower levels of
tolerance for poor service, seniors end up being the most demanding travellers. This
group travels primarily for rest and relaxation they favor calmer, quieter, less congested
destinations.
Multigenerational travel
Another important trend is multigenerational travel; A lot of multigenerational travel is
planned around milestone events. This market is about trading memories, convenience
and value. Suppliers have had a slow time adjusting to this trend, destinations have
lagged when it comes to providing services and amenities that appeal to kids,
Millennials and seniors but some cruise lines have taken a leadership position in taking
advantage of this market.