The number of International departures of travelers on Leisure trips, attained a global value of 280,013.01 Thousand in 2020
The indicator recorded a historical decline (CAGR) of 29% between 2017 to 2020, and is expected to grow by ...
GlobalData projects the indicator to grow ...
Global leisure attractions overview
Global number of international departures of travelers on leisure trips experienced a notable decline between 2017-2020.
The leisure attractions sector is unique as it combines two different strands. Theme parks are generally established outside of city areas due to the large area required to operate a successful one. This must also be balanced with accessibility for an adequate population.
Impact of COVID-19 on the global leisure attractions
The coronavirus pandemic is having widespread implications for a range of markets and industries across the globe. With many countries implementing social distancing measures and nationwide lockdowns, many leisure attractions have been forced to close down. Early 2020, saw Disney close its parks in Shanghai, Hong Kong and Tokyo to protect against coronavirus spread. Disney Parks announced in 2020 that Disney World and Disneyland in California would also remain closed until further notice.
Disney is the most exposed major media company during the coronavirus pandemic, because most of its revenue comes from parks, movies, and advertising. The company will lose a significant amount of revenue because of the closures. The companies have been tapping the debt market or drawing down on revolving credit facilities as a nest egg against the harsh economic impact and unknown duration of the coronavirus. However, raising funds may be difficult as investors become increasingly concerned that a recession could prevent a return to business as usual, as leisure spending is discretionary and households will have less income for such extras.
Buyers in the travel intermediaries
Buyers in the travel intermediaries market are end users, who might be either individuals or businesses and families, schools on trips, or other groups such as non-professional sports teams and scouts. In this respect, buyers are a broad category. Leisure end users are people on holiday or leisure trips. They are travelling out of choice and so to this type of user, the services offered by airlines, hotels and travel intermediaries are not essential. This means that during times of economic hardship, it is easy to cut back and not engage in this form of discretionary spending. This boosts buyer power for this type of buyer.
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