As per newly released data by Future Market Insights (FMI), the Destination Marketing Sector is estimated at USD 120 Billion in 2022 and is projected to reach USD 407.35 Billion by 2032, at a CAGR of 13% from 2022 to 2032.
| Attribute | Details |
|---|---|
| Destination Marketing Sector Estimated Size (2022) | USD 120 Billion |
| Destination Marketing Sector Projected Size (2032) | USD 407.35 Billion |
| Destination Marketing Sector Value-based CAGR (2022 to 2032) | 13% |
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From 2018 to 2019, the tourism industry did well across the board. New tours were being created by travel agencies and offered to travelers from throughout the world. Tourists have a strong demand for destination trips.
Tourists were drawn to destinations that are well-known for a cause or that are featured in films. The tour operators planned numerous trips that would visit both these and uncharted locales, whetting travelers’ appetites for more.
Due to travel restrictions brought on by the COVID-19 epidemic, there was a significant fall in tourists visiting well-known locations around the world. These had a significant impact on destination tourism, but as tourism is regaining its reputation, it will be revived.
Tourists all around the world want to make their tours memorable and enjoyable. Tourists are wishing that their journey will be a good memory and they will remember the tour forever. To give tourists such an experience, travel agencies are planning trips to popular destinations around the globe.
While planning these tours, organizers are making sure that there will be minimum problems during the tour and that tourists will enjoy their time. For ensuring smooth trips, tour organizers are constantly in contact with authorities and other businesses related to the trip.
While advertising the tours for attracting tourists, organizers are making sure that they are not promoting something that is not included in the tour, and that all other factors are according to the tourist’s interests. Through such advertisements, there are chances that tourists with similar interests come together and form a ‘family’ for the rest of the tour.
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Tourists nowadays are preferring experiences over materials, and if the travels seem like they will be worthwhile and provide them with priceless memories, they're willing to spend the money anyway. For selling the tours to such an audience, tourism agencies are advertising them using experience marketing.
Experienced marketing uses visual means for giving a glimpse of what tourists can experience on tour. The films used may feature locals discussing the region's specialties, hotels, and landmarks that are part of the tour. The use of Virtual Reality and POV videos are the best examples of experiential marketing.
Such experience marketing helps build excitement among the tourists and make sure they book the tour after knowing what they are getting by traveling with particular tour organizers.
Long-standing misconceptions about India in the West include extensive poverty, a lack of modern sanitation, and daily conflicts over religion and ethnicity. To remove such misconceptions about India, The Indian Ministry of Tourism launched the Incredible! India's marketing campaign to highlight to western audiences the country's culture, historic monuments, tourist attractions, and the excitement and energy filled in locals.
Tourism is an ever-growing and bankable market, so India as a developing country is trying to enhance this market and capitalize on its basis for boosting the economy. By promoting positive aspects through tourism, India will work to win the support of western nations on a global scale.
The Bahamas promotes itself as the main destination for luxurious and relaxing vacations in the Caribbean. The Government had launched a tourism campaign, with the slogan it’s better in the Bahamas, which suggested the relaxing nature of tours in the country.
The Government of the Bahamas introduced television advertisements and websites, specifically to establish the image of the islands providing a relaxing, carefree, full of cultural experience for travelers. In contrast to that, high crime rates are indicating that the actual situation is worse.
The tourism marketing agencies are trying to keep tourists focusing on beaches and azure waters and tropical weather and lifestyle in the Bahamas keeping the drawbacks and unnoticed bad parts away. This managing perception is commonly seen in advertising, as the whole purpose is the sale of the product.
In order to change common public political and social perceptions of Mexico, including those of poverty, government and law enforcement corruption, petty and organized crime, and drug trafficking, the Tourism Board of Mexico, launched a tourism advertisement campaign in 2010.
This campaign was focused on the USA and Canada, which are Mexico’s North American Free Trade Agreement partners and key customers from a tourism point of view. But this campaign was shut down in 2019 due to the development of train systems connecting destinations in the country.
Currently, in order to revive tourism in the region, the authorities are promoting Mexico's beaches, natural beauties, cultural celebrations, and historical monuments like Mayan pyramids and Spanish churches, with its marketing slogan Visit Mexico. Under these promotional activities, Mexican tourism is set to undergo a radical transformation.
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Social Media and Search Engines are powerful advertising channels for Destination Marketing.
Destination marketing involves the promotion of a place or attraction based in a country, and this promotion is usually done using a widespread medium, available in every region in the world. As the internet and smartphones are commonly used in all countries, tourism agencies and government authorities are preferring social media and internet websites for destination marketing.
Natural and Cultural attractions are commonly promoted in advertisements
Destination marketing is focused on the promotion of specific locations in a region, which attract international and local tourists. To make sure that people will remember the places and that the advertisement will leave a positive impression on the target audience, nature, and cultural attractions are usually promoted in destination-specific advertisements.
All around the world, there are many cultural and natural heritages, and they serve as the distinctive characteristics that separate places from one another. Destination marketing promotes both the countries and tourism by concentrating on these particular attractions.
For the promotion of tourism at a specific location, there are Destination Marketing Organisations, performing multiple operations with the help of local Government authorities. These DMOs get funds from taxes paid by tourists and subsidies provided by Government.
However, these DMOs are seeing a fall in sales since private tour operators along with marketing companies are promoting these excursions more successfully and offering travelers a wide range of options.
For Instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania & the Middle East; and Africa. |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, The United Kingdon, France, Spain, Italy, Russia, Benelux, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia & New Zealand. |
| Key Segments Covered | Advertisement Media, Attraction Type, Tourist Type, Tour Type, and Region |
| Key Companies Profiled | Amadeus travel advertising; Accord; MMGY Global; DANA; DCI; Digitalcoconut; OP Worldwide; LLC; Sagittarius; VERB; OnlyTravel |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Destination Marketing market is currently valued at USD 120 Billion in 2022.
The Destination Marketing market is currently forecasted to grow at a rate of 13% CAGR during the forecast period.
Amadeus Destination Marketing, Accord, MMGY Global, DANA, DCI, Digitalcoconut, OP Worldwide, LLC, EchoVME, D BOX Technologies, TheBeGlobal, etc. are the major participants in the destination marketing industry.
1. Executive Summary | Destination Market 2. Market Introduction 3. Global Tourism Industry Analysis 4. Global Marketing Market Dynamics 5. Market Background 6. Categorizing of Global Marketing Sector 2021 6.1. Current Market Analysis By Advertisement Media (% of Demand) 6.1.1. Magazines 6.1.2. Newspapers 6.1.3. Television 6.1.4. Emails 6.1.5. Others 6.2. Current Market Analysis By Attraction Type (% of Demand) 6.2.1. Natural 6.2.2. Festivals 6.2.3. Cultural 6.2.4. Artificial 6.2.5. Others 6.3. Current Market Analysis By Tourist Type (% of Demand) 6.3.1. Domestic 6.3.2. International 6.4. Current Market Analysis By Tour Type (% of Demand) 6.4.1. Independent Traveller 6.4.2. Tour Group & Package Traveller 6.5. Current Market Analysis By Region (% of Demand) 6.5.1. North America 6.5.2. Latin America 6.5.3. Europe 6.5.4. East Asia 6.5.5. South Asia 6.5.6. Oceania 6.5.7. Middle East and Africa 7. Categorizing of North America Marketing Sector 2021 8. Categorizing of Latin America Marketing Sector 2021 9. Categorizing of Europe Marketing Sector 2021 10. Categorizing of East Asia Marketing Sector 2021 11. Categorizing of South Asia Marketing Sector 2021 12. Categorizing of Oceania Marketing Sector 2021 13. Categorizing of Middle East and Africa Marketing Sector 2021 14. Competition Analysis 14.1. Amadeus Marketing 14.2. Accord 14.3. MMGY Global 14.4. DANA 14.5. DCI 14.6. Digital Coconut 14.7. OP Worldwide 14.8. LLC 14.9. Sagittarius 14.10. VERB 14.11. Only Travel 14.12. Others (As Per Request) 15. Social Media Sentimental Analysis 16. Assumptions and Acronyms Used 17. Research Methodology
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