Travel is fun for most people. However, this activity has facts that most people don’t know. Here are essential points that you should know about trips.
The Travel Industry Grows Faster than Other Sectors
The world has undoubtedly an increasing number of travelers every year. Ideally, traveling is a priority for some people. For this reason, many people across the world cut back on non-essential expenses and save money for travel. Even when the economy was enduring difficult moments, the travel industry has shown remarkable resilience. Compared to the financial services and construction industry, travel has always exhibited the highest growth rate.
Travel Accounts for Around 10% of Jobs Globally
The travel industry is the reason why the airlines, transportation, and hospitality sectors thrive. And many people are working in these economic sectors. Today, millions of people work in these sectors globally. What’s more, most countries have jobs that support the people working in the travel industry. And most importantly, some of these workers are in developing countries, and others are semi-skilled. Thus, the travel industry provides livelihoods in places with no other employments.
Many People Travel to Seal Deals
In the past, some people thought that business travel was the primary reason for traveling. Consequently, the inception of video conferencing and other technologies for holding virtual meetings prompted some individuals to believe the travel industry wouldn’t grow further. But this didn’t happen as more people still travel for business. Business travel is growing in emerging and developing markets. This travel is the trailblazer for industry growth, with companies focusing on exploiting new markets.
Many People Travel Domestically
Up to 70% of the travel industry income comes from domestic travel. That means domestic tourism is a significant contributor to industry growth. Ideally, local travel is about double the international visitors value. Perhaps, that’s because not everybody can afford the cost of traveling internationally.
While most people love traveling for fun, this activity contributes to economic growth in many ways. These essential facts about travel should prompt you to go on trips more often.