Travel, Tourism and Economic Development

If ever there was a consumer decision with plentiful choices and beyond-appealing options, it would have to be in the travel and tourism industry.

With an estimated $740 billion annual spending in the U.S. alone, consumers’ choices in destinations, transportation, lodging, attractions, and products and travel services have never been greater. The communications clutter is pervasive and everyone is ponying up for consumers’ loyalty. At the end of the day, if your product or service is not on the itinerary or in the suitcase, it’s waiting “standby,” a consideration for the next trip. What’s more, shifting trends, economic influences and word-of-mouth persuasion all impact the travel and tourism industry significantly more than others.