The lesbian, gay, bi-sexual and transgender sector is creating a dynamic and influential contribution to the worldwide tourism industry, based on World Travel & Tourism Council president David Scowsill.
Addressing the International Gay & Lesbian Travel Association, Scowsill explained the LGBT market within the U.s. alone is estimated to be over US $55 billion and around US$165 billion globally.
Significantly, the LGBT sector is growing faster than the wider tourism economy, growing by almost ten per cent in 2012 year-on-year, against global growth of the industry of around three per cent.
Scowsill explained: “This is because travel is a life-style for many people on this world, whatever their sexuality.
“Even inside the toughest times, it is still a concern for populations worldwide.
“Travel drives economies and creates jobs.
“Even in challenging economic times, it still has the capability to grow, as consumer appetite for travel beyond national borders remains undimmed.”
Despite the upper growth among LGBT travellers and the undeniable fact that the arena is viewed by marketers, tour operators, product development specialists and advertisers as a gap market, the sphere faces the similar challenges because the remainder of the industry – restrictions on personal movement, high taxes and the long-term sustainability of the industry.
These are the 3 strategic priorities that underpin the work of WTTC because it seeks to realize global understanding of the commercial and social contribution of an industry which represents nine per cent of worldwide GDP and supports one in 11 of all jobs on the earth.