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TripAdvisor survey shows economic optimism in emerging markets

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September 13, 2013

TripAdvisor survey shows economic optimism in emerging markets

Economic OptimismOne theme from the latest TripBarometer by TripAdvisor is that travelers vary considerably in their economic outlook, with those from emerging markets far more optimistic about the global economy.

The twice-yearly survey, which is analyzed independently by Edelman Berland, reveals travel and hospitality industry trends based on responses from more than 19,000 travelers and more than 10,000 accommodation business owners around the world.

Highlights from the survey include:

  • 61% of global travelers plan to spend the same amount or less on travel in 2014.
  • Hotelier confidence is highest in the Americas, Asia and the Middle East. Central America leads the pack in terms of hotelier confidence, with 79% of hoteliers optimistic about making a profit in 2014.
  • 65% of U.S. hoteliers plan to increase room rates in 2013, an increase of 16% compared to 2012.
  • Globally, hoteliers in Asia, Europe and South America are most bullish about new development, with 34%, 21% and 10%, respectively, making plans in this area.

?Despite not being overly optimistic about the economy, people seem to have adapted; many are planning to take more trips this year and they are willing to make sacrifices in other aspects of their lives in order to have a holiday,? said Julio Bruno, global VP sales, TripAdvisor for Business. ?Hoteliers are clearly encouraged by travelers? plans to take more trips, demonstrating rising confidence with plans to increase room rates and invest more in their businesses. The TripBarometer highlights how the travel economy and people?s perception of travel can affect the industry in a big way ? and the results all point to a very good year ahead.?

Click here to read more.

Source HotelsMag.com and TripAdvisor

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