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Travel & Outdoor
Overview of the travel and outdoor industry
The travel and outdoor industries are among the leading sectors of the global economy. It is due to the segment's extensiveness, significance, and high value. For example, it has extended to become the most extensive service-related industry. It is due to the popularity of travelling from one destination to another. Likewise, it is due to the value of the services needed for the travel. Examples include transportation services, accommodations, F&B, and entertainment. This results in the industry being among the high-value sectors. For example, the travel and tourism segments have reached a value of 4.8 trillion USD.
Is the industry extensive?
As aforementioned, the segment features extensive interconnectedness. For example, it is linked to the tourism, HoReCa, transport, and financial sectors. This results in the industry featuring over 621,600 enterprises. They directly and indirectly engage more than 10 million specialists.
Is the industry innovative?
The travel industry features a prime focus on innovation. This is due to the emphasis on allowing it to adapt to the latest challenges and market trends. Generally, the sector presents its most recent innovations during trade expos. It includes annual, biannual, and triennial events in diverse countries. They attract millions of attendees to states such as Germany, Finland, the UAE, and the UK.