Much attention has been paid recently to emerging tourism source markets, particularly the BRIC countries. While these markets represent a shiny new opportunity for tourism marketing investment, the cost of effectively penetrating them can be quite high.
When evaluating how to best spend, particularly with limited budgets, resist the urge to shift funds from attracting North American visitors: these markets are not as mature as they appear.
According to a report released this week by the UNWTO, “traditional source markets show renewed dynamism.” In fact, the US and Canada both grew as a source market by 7% in 2012. Predictions for 2013 show a continued growth path for these markets.
There is little doubt that the growth of the BRIC countries is one of the most influential trends of our time. Yet, in all of the hype surrounding this global phenomenon, it is easy to lose sight of a very simple fact. The developed world still, by far, holds the bulk of the world’s wealth and the population of these countries are still, by far, the most inclined to take a yearly, expensive holiday. Rome did not fall in a day, and if I had to wager a guess, we will not see the end of the affluent Western traveler anytime in the foreseeable future.
For more information on North America travel trends in 2013 click here.